Six-Parcel Retail Office
For Sale
$8,500,000
601 99 E 14th St, San Leandro, CA 94577
Six contiguous retail and office parcels with mixed tenants, including vacant and month-to-month suites.
Property Size26,150 SF
Lot Size0.90 Acres
Price / SF$325.05
Days on Market17
Property Features for 601 99 E 14th St
General Information
Standard status
Active
Size
26,150 SF
Lot size
0.90 Acres
Property subtype
Commercial
Building Details
Year Built
1940
Listing Agency:
Notable Real Estate
(925) 819-2109
Listed By:
Raelene Sprague · License #00577360
(925) 819-2109
Source:
Elliman
Added: Jul 24
Changed: Jul 25
Last Checked: Aug 8 at 10:45AM
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 Notable Real Estate
Investment Insights
Based on property information with market context.
This offering includes six contiguous commercial parcels at 601–699 East 14th Street, providing a combined platform of retail and office space. The portfolio totals approximately 26,150 square feet of rental building area on a footprint of roughly 0.90 acres. Tenancy includes long-standing retail and office tenants, with certain suites currently vacant or on month-to-month terms.
The asset is positioned along an established San Leandro retail and office corridor. Bike, walk, and transit scores are reported as 36 (Somewhat Bikeable), 58 (Somewhat Walkable), and 47 (Some Transit), respectively.
For a buyer, the near-term composition offers both continuing in-place cash flow from occupied leases and flexibility for re-leasing of select suites, as well as potential redevelopment consideration under the parcel’s downtown zoning, while maintaining income from remaining tenants.
The asset is positioned along an established San Leandro retail and office corridor. Bike, walk, and transit scores are reported as 36 (Somewhat Bikeable), 58 (Somewhat Walkable), and 47 (Some Transit), respectively.
For a buyer, the near-term composition offers both continuing in-place cash flow from occupied leases and flexibility for re-leasing of select suites, as well as potential redevelopment consideration under the parcel’s downtown zoning, while maintaining income from remaining tenants.
Key Highlights
- Six contiguous commercial parcels on East 14th Street in San Leandro (601–699 E 14th St).
- Approx. 26,150 SF of rental building area across about 0.90 acres.
- Mixed retail and office tenancy, including some vacant and month‑to‑month suites.
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
$529,538
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
6.23%
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%
$10,590,760
$10.6M
Cap Rate 7%
$7,564,829
$7.6M
Cap Rate 9%
$5,883,756
$5.9M
Market Conditions
NOI Build-Up for 26,150 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
$941.4K $36.00/SF
− Vacancy
−$94.1K −$3.60/SF
EGI
$847.3K $32.40/SF
− OpEx
−$317.7K −$12.15/SF
NOI
$529.5K $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%
$10,590,760
Cap Rate 7%
$7,564,829
Cap Rate 9%
$5,883,756
Alternative Uses
Best Use
Retail
$119.22M
$104.31M – $139.09M
NOI $8,345,158 @ 7.0% cap · market cap 98.18%
Second Best
Mixed Use
$7.56M
$6.62M – $8.83M
NOI $529,538 @ 7.0% cap · market cap 6.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,817
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Six contiguous retail and office parcels with mixed tenants, including vacant and month-to-month suites.
Where is this mixed-use property located?
The property is located at 601 99 E 14th St San Leandro, CA.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Six contiguous commercial parcels on East 14th Street in San Leandro (601–699 E 14th St).; Approx. 26,150 SF of rental building area across about 0.90 acres.; Mixed retail and office tenancy, including some vacant and month‑to‑month suites.
