Mixed-Use Building with Renovated
For Sale
$3,985,000
147 W Richmond Ave, Richmond, CA 94801
Income-producing mixed-use property with renovated residential and commercial spaces.
Property Size12,000 SF
Price / SF$332.08
Days on Market524
Property Features for 147 W Richmond Ave
General Information
Standard status
Active
Size
12,000 SF
Building Details
Year Built
1914
Listing Agency:
NAI NORTHERN CALIFORNIA
Listed By:
ETHAN BERGER
Source:
Corcoran
Added: May 10, 2025
Changed: Mar 16
Last Checked: Oct 14 at 10:51PM
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 NAI NORTHERN CALIFORNIA
Investment Insights
Based on property information with market context.
Located in a thriving East Bay waterfront community, this 12,000 square foot, three-story mixed-use building features five ground-floor commercial suites totaling 3,120 square feet, suitable for retail or office use. The second and third floors house 14 fully renovated residential units, including 10 one-bedroom/one-bath units and 4 two-bedroom/one-bath units. The property also has a partial basement. The residential units have been comprehensively modernized while preserving character-rich details such as exposed brick walls. Interior upgrades include new flooring, shaker cabinetry, solid surface countertops, updated appliance packages, contemporary bathrooms with new walk-in showers, sinks, and toilets, dual-pane windows, new entry doors, and upgraded electrical sub-panels in each unit. Common areas have been improved with new carpeting, lighting, and windows, along with amenities such as an indoor bike rack and a refreshed on-site coin-operated laundry room. Each unit is individually metered for gas and electricity, and tenants are billed back for shared utilities.
Key Highlights
- Income‑producing mixed‑use property with 5 commercial suites and 14 renovated residential units.
- Fully renovated residential units featuring modern upgrades such as new flooring, shaker cabinetry, solid surface countertops, updated appliances, and contemporary bathrooms.
- Located in a thriving East Bay waterfront community.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$173,833
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,476,660
$3.5M
Cap Rate 7%
$2,483,329
$2.5M
Cap Rate 9%
$1,931,478
$1.9M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$335.5K $27.96/SF
− Vacancy
−$19.5K −$1.62/SF
EGI
$316.1K $26.34/SF
− OpEx
−$142.2K −$11.85/SF
NOI
$173.8K $14.49/SF
Area
Richmond, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,476,660
Cap Rate 7%
$2,483,329
Cap Rate 9%
$1,931,478
Alternative Uses
Best Use
Apartment 5plus
$2.48M
$2.17M – $2.90M
NOI $173,833 @ 7.0% cap · market cap 4.36%
Second Best
Retail
$2.31M
$2.02M – $2.69M
NOI $161,406 @ 7.0% cap · market cap 4.05%
Theoretical Best
Multifamily LT 5
$2.87M
$2.51M – $3.34M
NOI $200,673 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
Explore this area
Business Placement
Demographics for 94801, CA
33,486
Population
11,012
Households
3
Avg Household Size
34
Median Age
19%
College-Educated
69%
High-School Grad
11.5 sq mi
ZIP Area
2,912
Density / Sq Mi
$75,786
Median Household Income
$40,435
Median Earnings
$1,608
Median Rent
$593,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing mixed-use property with renovated residential and commercial spaces.
Where is this mixed-use property located?
The property is located at 147 W Richmond Ave Richmond, CA.
What is the asking price?
The asking price for this property is $3,985,000.
What are key features of this property?
This property features: Income‑producing mixed‑use property with 5 commercial suites and 14 renovated residential units.; Fully renovated residential units featuring modern upgrades such as new flooring, shaker cabinetry, solid surface countertops, updated appliances, and contemporary bathrooms.; Located in a thriving East Bay waterfront community.
