San Leandro Industrial
For Sale
$1,195,000
2982 Teagarden St, San Leandro, CA 94577
Industrial condo with warehouse and office space for sale.
Property Size4,020 SF
Price / SF$297.26
Days on Market121
Property Features for 2982 Teagarden St
General Information
Standard status
Active
Size
4,020 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,166
Building Details
Year Built
1973
Listing Agency:
MICHAEL TANZILLO R.E. BRKR
(510) 206-3156
Listed By:
Paul Mader · License #00795784
Source:
Elliman
Added: Apr 24
Changed: Aug 21
Last Checked: Aug 22 at 11:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MICHAEL TANZILLO R.E. BRKR
Investment Insights
Based on property information with market context.
This industrial condominium unit offers a total area of 4,020 square feet, comprising approximately 3,524 square feet of warehouse space and 486 square feet of office area. The warehouse features a 16-foot clear height, a 14' x 14' drive-in door, and two skylights, along with a mezzanine area situated above the front office. The 486-square-foot office space includes a reception/work area, a private office, and a restroom. The office has been remodeled, and the property is in good condition overall. The property is part of the 23-unit Teagarden Business Center, located just east of I-880 and Marina Blvd. This property is suitable for a wide variety of users.
Key Highlights
- 4,020+\/- sq ft industrial condominium suitable for a wide variety of users
- 3,524+\/- sq ft of warehouse space with 16' clear height and 14' x 14' drive‑in door**
- Remodeled 486+\/- sq ft office space including reception/work area, private office, and restroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,441
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,128,820
$1.1M
Cap Rate 7%
$806,300
$806.3K
Cap Rate 9%
$627,122
$627.1K
Market Conditions
NOI Build-Up for 4,020 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$96.5K $24.00/SF
− Vacancy
−$9.6K −$2.40/SF
EGI
$86.8K $21.60/SF
− OpEx
−$30.4K −$7.56/SF
NOI
$56.4K $14.04/SF
Area
Alameda County, CA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,128,820
Cap Rate 7%
$806,300
Cap Rate 9%
$627,122
Alternative Uses
Best Use
Flex RnD
$806.3K
$705.5K – $940.7K
NOI $56,441 @ 7.0% cap · market cap 4.72%
Second Best
Industrial
$687.4K
$601.5K – $802.0K
NOI $48,119 @ 7.0% cap · market cap 4.03%
Theoretical Best
Retail
$18.33M
$16.04M – $21.38M
NOI $1,282,889 @ 7.0% cap · market cap 107.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,226
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94577, CA
48,868
Population
17,681
Households
2.8
Avg Household Size
41
Median Age
39%
College-Educated
86%
High-School Grad
8.1 sq mi
ZIP Area
6,033
Density / Sq Mi
$110,989
Median Household Income
$56,382
Median Earnings
$2,199
Median Rent
$824,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pop Up Gelato — 1650 Abram Ct, San Leandro, CA 94577
- Curb Dogz — 14345 Acacia St, San Leandro, CA 94579
- Angelic Taste Catering — 1119 Coburn Ct, San Leandro, CA 94578
- SARAPe´ — 1304 Purdue St, San Leandro, CA 94579
- Blocko Vegan Tacos — 800 oak street, Oakland, CA 94607
Frequently Asked Questions
What type of property is this?
Flex space - Industrial condo with warehouse and office space for sale.
Where is this flex space located?
The property is located at 2982 Teagarden St San Leandro, CA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 4,020+\/- sq ft industrial condominium suitable for a wide variety of users; 3,524+\/- sq ft of warehouse space with 16' clear height and 14' x 14' drive‑in door**; Remodeled 486+\/- sq ft office space including reception/work area, private office, and restroom
