Boutique Creative Office
For Sale
Contact for pricing
1451 Leimert Blvd, Oakland, CA 94602
Boutique creative office building offered for sale at 1451 Leimert Blvd.
Property Size5,000 SF
Price / SF$390
Days on Market51
Property Features for 1451 Leimert Blvd
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Office
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
Wells & Bennett Realtors - Oakland
Listed By:
Kelly Klingler · License #CA 01052191
(925) 550-9540
Source:
Crexi
Added: Jul 18
Changed: Aug 31
Last Checked: Sep 5 at 9:28PM
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 Wells & Bennett Realtors - Oakland
Investment Insights
Based on property information with market context.
This boutique office/creative commercial building is offered for sale with an emphasis on character and flexibility for owner-users. The property is positioned as a smaller, non-commodity office option relative to large downtown tower competition.
The building is located at 1451 Leimert Blvd in Oakland, with Oakland Hills proximity noted in the property description.
Additional operational details such as unit mix, layout, or improvements are not provided in the available information.
The building is located at 1451 Leimert Blvd in Oakland, with Oakland Hills proximity noted in the property description.
Additional operational details such as unit mix, layout, or improvements are not provided in the available information.
Key Highlights
- Boutique creative office building for sale at 1451 Leimert Blvd.
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
$67,032
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
3.44%
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%
$1,340,640
$1.3M
Cap Rate 7%
$957,600
$957.6K
Cap Rate 9%
$744,800
$744.8K
Market Conditions
NOI Build-Up for 5,000 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
$117.6K $23.52/SF
− Vacancy
−$28.2K −$5.64/SF
EGI
$89.4K $17.88/SF
− OpEx
−$22.3K −$4.47/SF
NOI
$67.0K $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%
$1,340,640
Cap Rate 7%
$957,600
Cap Rate 9%
$744,800
Alternative Uses
Best Use
Office B
$957.6K
$837.9K – $1.12M
NOI $67,032 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.64M
$1.43M – $1.91M
NOI $114,589 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Explore this area
Business Placement
Demographics for 94602, CA
29,702
Population
13,072
Households
2.3
Avg Household Size
42
Median Age
58%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
8,251
Density / Sq Mi
$124,744
Median Household Income
$65,401
Median Earnings
$1,924
Median Rent
$1,111,800
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?
Creative space - Boutique creative office building offered for sale at 1451 Leimert Blvd.
Where is this creative space located?
The property is located at 1451 Leimert Blvd Oakland, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Boutique creative office building for sale at 1451 Leimert Blvd.
