Mixed-Use Office and Restaurant
151-157 Park Pl Richmond, CA 94801
For Sale
Contact for pricing
Contiguous building with elevator and HVAC service, featuring ground-floor pizzeria space and abundant gated parking.
Property Size19,491 SF
Price / SF$157.77
Days on Market377
Property Features for 151-157 Park Pl
General Information
Standard status
Active
Size
19,491 SF
Property subtype
OFFICE
Listing Agency:
Newmark | San Rafael
(415) 526-7649
Listed By:
Haden Ongaro · License #00916960
Source:
Moodyscre
Added: Jul 18, 2025
Changed: Jul 27
Last Checked: Jul 28 at 3:50PM
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 Newmark | San Rafael
Investment Insights
Based on property information with market context.
This offering is a combined, contiguous office and restaurant building originally comprised of two structures, consolidated in 2017. The property is elevator and HVAC served and is handicapped accessible, with high-end finishes throughout. The ground floor includes an established pizzeria, and the remainder of the building is scheduled to be delivered vacant as of January 1, 2026. Kitchenette facilities are located on the first floor of 157, with a balcony/deck off the back. Balconies are also present on the second floors of both 157 and 155.
The building is located in the heart of Point Richmond’s historical district at the corner of Park Place and W. Richmond Avenue, just off the Castro exit of I-580. An enclosed, finished alley connection runs at the rear of the building toward Railroad Avenue. Parking includes seven gated and enclosed spaces below the building, plus gravel parking in the rear with eight additional spaces, along with street parking in front on Park Place. Access to the parking and garage is handled through an agreement with neighboring ownership.
The configuration supports use as a single-tenant building or a split arrangement for a multi-tenant investment property, depending on how the available space is arranged after delivery.
The building is located in the heart of Point Richmond’s historical district at the corner of Park Place and W. Richmond Avenue, just off the Castro exit of I-580. An enclosed, finished alley connection runs at the rear of the building toward Railroad Avenue. Parking includes seven gated and enclosed spaces below the building, plus gravel parking in the rear with eight additional spaces, along with street parking in front on Park Place. Access to the parking and garage is handled through an agreement with neighboring ownership.
The configuration supports use as a single-tenant building or a split arrangement for a multi-tenant investment property, depending on how the available space is arranged after delivery.
Key Highlights
- Contiguous property formed in 2017 by combining two original buildings into one building and parcel
- Ground‑floor pizzeria space included; property will be delivered vacant as of January 1, 2026 (per remarks)
- Elevator and HVAC served; handicapped accessible
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $385.9k | $19.80 |
| − Vacancy | −$63.7k | −$3.27 |
| EGI | $322.2k | $16.53 |
| − OpEx | −$80.6k | −$4.13 |
| NOI | $241.7k | $12.40 |
19,491 SF · lease $19.80/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$4.20M
$3.67M – $4.89M
NOI $293,651 @ 7.0% cap · market cap 9.55%
Second Best
Office B
$3.45M
$3.02M – $4.03M
NOI $241,684 @ 7.0% cap · market cap 7.86%
Theoretical Best
Multifamily LT 5
$4.66M
$4.07M – $5.43M
NOI $325,943 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Contiguous building with elevator and HVAC service, featuring ground-floor pizzeria space and abundant gated parking.
Where is this office units located?
The property is located at 151-157 Park Pl Richmond, CA.
What is the asking price?
The asking price for this property is $3,075,000.
What are key features of this property?
This property features: Contiguous property formed in 2017 by combining two original buildings into one building and parcel; Ground‑floor pizzeria space included; property will be delivered vacant as of January 1, 2026 (per remarks); Elevator and HVAC served; handicapped accessible
