Office Building with Elevator
New
For Sale
$2,950,000
638 Webster St, Oakland, CA 94607
Office suites feature high ceilings, natural light, HVAC, and shared common-area amenities.
Property Size13,972 SF
Price / SF$211.14
Days on Market2
Property Features for 638 Webster St
General Information
Standard status
Active
Size
13,972 SF
Elevators
Yes
Property subtype
Office
Additional Details
Public Transit
Yes
Amenities
large windows
high ceilings
natural light
HVAC
shared common-area amenities
Approximately 20,000 SF Gross Multi-Tenant Office Building situated in the heart of Oakland's Chinatown and Downtown district.
Prime Transit-Oriented Location with convenient access to BART, Amtrak, AC Transit, SF Ferry, Interstate 880, and Interstate 980.
Value-Add Leasing Upside through the lease-up of currently available office and medical suites.
Flexible Suite Configurations featuring large windows, natural light, high ceilings, HVAC, elevator service, and shared common-area amenities.
The property has demonstrated rooftop leasing demand from telecommunications and technology users seeking equipment installations, creating potential supplemental income opportunities.
Investors have the opportunity to acquire a centrally located urban office asset at a fraction of current replacement costs in the Bay Area office market.
The property is situated in a dense commercial corridor surrounded by restaurants, retail services, professional offices, and cultural destinations.
Building Details
Building Size
13,972 SF
Year Built
1986
Listed By:
David Ching · License #License(s): CA: 01136661, NV: BS.0146396
(510) 379-1233
Source:
Marcusmillichap
Added: Sep 24
Last Checked: Sep 24 at 2:49PM
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 David Ching
Investment Insights
Based on property information with market context.
The 13,972-square-foot office building was constructed in 1986. Its suites have large windows, high ceilings, natural light, elevator access, and HVAC, with shared common-area amenities serving the building.
At 638 Webster St in Oakland, the property is within walking distance of BART, Amtrak, AC Transit, and the Oakland Ferry Terminal.
At 638 Webster St in Oakland, the property is within walking distance of BART, Amtrak, AC Transit, and the Oakland Ferry Terminal.
Key Highlights
- 13,972‑square‑foot office building constructed in 1986
- Suites feature large windows, high ceilings, natural light, HVAC, and elevator access
- Shared common‑area amenities
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
$187,314
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
6.35%
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%
$3,746,280
$3.7M
Cap Rate 7%
$2,675,914
$2.7M
Cap Rate 9%
$2,081,267
$2.1M
Market Conditions
NOI Build-Up for 13,972 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
$328.6K $23.52/SF
− Vacancy
−$78.9K −$5.64/SF
EGI
$249.8K $17.88/SF
− OpEx
−$62.4K −$4.47/SF
NOI
$187.3K $13.41/SF
Area
Oakland, CA
Vacancy
24.00%
Lease Rate
$23.52 /SF/Yr
Expense Ratio
25.00%
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%
$3,746,280
Cap Rate 7%
$2,675,914
Cap Rate 9%
$2,081,267
Alternative Uses
Best Use
Office B
$2.68M
$2.34M – $3.12M
NOI $187,314 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$4.57M
$4.00M – $5.34M
NOI $320,207 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,751
Businesses Nearby
Explore this area
Business Placement
Demographics for 94607, CA
31,067
Population
14,362
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
5,266
Density / Sq Mi
$87,937
Median Household Income
$67,107
Median Earnings
$1,875
Median Rent
$744,600
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Office suites feature high ceilings, natural light, HVAC, and shared common-area amenities.
Where is this office building located?
The property is located at 638 Webster St Oakland, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 13,972‑square‑foot office building constructed in 1986; Suites feature large windows, high ceilings, natural light, HVAC, and elevator access; Shared common‑area amenities
