Two Adjoining Warehouse
For Sale
Contact for pricing
2303-2311 Martin Luther King Jr Way, Oakland, CA 94612
Hard-corner industrial property with two adjoining warehouses, roll-up doors, and built-out offices with ADA restrooms.
Property Size10,000 SF
Price / SF$160
Days on Market494
Property Features for 2303-2311 Martin Luther King Jr Way
General Information
Standard status
Active
Size
10,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
Lee & Associates | San Francisco
(415) 523-1080
Listed By:
Jeffrey Ida · License #01826381
(415) 828-7679
Source:
Moodyscre
Added: May 8, 2025
Changed: Aug 16
Last Checked: Sep 12 at 7:41AM
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 Lee & Associates | San Francisco
Investment Insights
Based on property information with market context.
The property consists of two adjoining ±15,000 SF warehouse buildings, totaling 10,000 SF across two separate parcels. Each building is a standalone hard-corner structure with two roll-up doors and 16’ clear height. Interior improvements include fully built-out offices and ADA restrooms. Security features include secure windows and security cameras.
Convenient access to area freeways and the Bay Bridge is highlighted for connectivity.
With two roll-up doors, built-out office space, and on-site ADA restrooms, the configuration supports combined warehouse and office use within a secure, self-contained setup.
Convenient access to area freeways and the Bay Bridge is highlighted for connectivity.
With two roll-up doors, built-out office space, and on-site ADA restrooms, the configuration supports combined warehouse and office use within a secure, self-contained setup.
Key Highlights
- Two adjoining ±10,000 SF warehouses on two separate parcels (total ±10,000 SF)
- Hard‑corner standalone industrial building with convenient access to freeways and the Bay Bridge
- Two roll‑up doors for warehouse access and operations
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
$140,400
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
8.77%
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%
$2,808,000
$2.8M
Cap Rate 7%
$2,005,714
$2.0M
Cap Rate 9%
$1,560,000
$1.6M
Market Conditions
NOI Build-Up for 10,000 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
$240.0K $24.00/SF
− Vacancy
−$24.0K −$2.40/SF
EGI
$216.0K $21.60/SF
− OpEx
−$75.6K −$7.56/SF
NOI
$140.4K $14.04/SF
Area
Oakland, 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%
$2,808,000
Cap Rate 7%
$2,005,714
Cap Rate 9%
$1,560,000
Alternative Uses
Best Use
Warehouse
$2.12M
$1.86M – $2.48M
NOI $148,557 @ 7.0% cap · market cap 9.28%
Second Best
Flex RnD
$2.01M
$1.76M – $2.34M
NOI $140,400 @ 7.0% cap · market cap 8.77%
Theoretical Best
Multifamily LT 5
$3.27M
$2.86M – $3.82M
NOI $229,178 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,202
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94612, CA
19,773
Population
11,928
Households
1.7
Avg Household Size
38
Median Age
54%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
19,773
Density / Sq Mi
$77,069
Median Household Income
$70,221
Median Earnings
$1,936
Median Rent
$814,000
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Hard-corner industrial property with two adjoining warehouses, roll-up doors, and built-out offices with ADA restrooms.
Where is this warehouse located?
The property is located at 2303-2311 Martin Luther King Jr Way Oakland, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two adjoining ±10,000 SF warehouses on two separate parcels (total ±10,000 SF); Hard‑corner standalone industrial building with convenient access to freeways and the Bay Bridge; Two roll‑up doors for warehouse access and operations
