Mixed-Use Redevelopment
For Sale
$1,750,000
15950 E 14th St, San Leandro, CA 94578
Fully entitled redevelopment with 36 residential units and about 5,017 SF of street-level retail space.
Property Size37,492 SF
Price / SF$348.81
Days on Market124
Property Features for 15950 E 14th St
General Information
Standard status
Active
Size
37,492 SF
Property subtype
Investment
Lease Term
Call to inquire
Additional Details
Multifamily Units
36
Building Details
Building Size
37,492 SF
Year Built
1947
Stories
5
Listing Agency:
BellStreet
(650) 282-0477
Listed By:
Amit Urban · License #01998926
(650) 282-0477
Source:
Elliman
Added: Apr 22
Changed: Aug 7
Last Checked: Aug 23 at 6:47AM
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 BellStreet
Investment Insights
Based on property information with market context.
Offered for sale is a fully entitled mixed-use redevelopment project presented as a dual-parcel assemblage. Plans are finalized to deliver 36 residential units across a defined unit mix of 11 studios, 15 one-bedroom homes, and 10 two-bedroom residences, paired with approximately 5,017 SF of street-level retail space.
The project is positioned in the heart of San Leandro, with reported walkScore of 86 (very walkable), bikeScore of 54 (bikeable), and transitScore of 52 (good transit). The development is described as shovel-ready, with entitlements secured so the work can move forward without the lengthy approval process.
The project is positioned in the heart of San Leandro, with reported walkScore of 86 (very walkable), bikeScore of 54 (bikeable), and transitScore of 52 (good transit). The development is described as shovel-ready, with entitlements secured so the work can move forward without the lengthy approval process.
Key Highlights
- Fully entitled redevelopment project: 36 residential units plus 5,017 SF of street‑level retail space
- Unit mix includes 11 studios, 15 one‑bedroom, and 10 two‑bedroom homes
- Street‑level retail totals approximately 5,017 SF to support additional income alongside residential units
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
$101,594
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
5.81%
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%
$2,031,880
$2.0M
Cap Rate 7%
$1,451,343
$1.5M
Cap Rate 9%
$1,128,822
$1.1M
Market Conditions
NOI Build-Up for 5,017 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
$180.6K $36.00/SF
− Vacancy
−$18.1K −$3.60/SF
EGI
$162.6K $32.40/SF
− OpEx
−$61.0K −$12.15/SF
NOI
$101.6K $20.25/SF
Area
Alameda County, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,031,880
Cap Rate 7%
$1,451,343
Cap Rate 9%
$1,128,822
Alternative Uses
Best Use
Retail
$22.87M
$20.01M – $26.68M
NOI $1,601,058 @ 7.0% cap · market cap 91.49%
Second Best
Mixed Use
$1.45M
$1.27M – $1.69M
NOI $101,594 @ 7.0% cap · market cap 5.81%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36
Residential units
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 94578, CA
40,957
Population
14,819
Households
2.8
Avg Household Size
37
Median Age
25%
College-Educated
82%
High-School Grad
4.6 sq mi
ZIP Area
8,904
Density / Sq Mi
$89,149
Median Household Income
$47,672
Median Earnings
$2,077
Median Rent
$793,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully entitled redevelopment with 36 residential units and about 5,017 SF of street-level retail space.
Where is this mixed-use property located?
The property is located at 15950 E 14th St San Leandro, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Fully entitled redevelopment project: 36 residential units plus 5,017 SF of street‑level retail space; Unit mix includes 11 studios, 15 one‑bedroom, and 10 two‑bedroom homes; Street‑level retail totals approximately 5,017 SF to support additional income alongside residential units
