Ground-Floor Retail
For Sale
$599,999
1515 14th Ave #c1, Oakland, CA 94606
Flexible commercial condominium with separate rooms, secured parking, and interior garage access in Oakland’s Eastlake district.
Property Size2,076 SF
Price / SF$289.02
Days on Market38
Property Features for 1515 14th Ave #c1
General Information
Standard status
Active
Size
2,076 SF
Total Parking Spaces
4
Additional Details
Floor
Ground
Public Transit
Yes
Amenities
secured garage
storage room
Building Details
Year Built
2004
Listing Agency:
CT Square, Inc
(415) 238-8630
Listed By:
Catherine Lee · License #01937003
Source:
Myfabuloushome
Added: Jul 25
Changed: Aug 30
Last Checked: Aug 31 at 7:22PM
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 CT Square, Inc
Investment Insights
Based on property information with market context.
This approximately 2,076-square-foot ground-floor commercial condominium was built in 2004 and offers a versatile interior arrangement. The floor plan combines an open customer-facing area with several enclosed rooms that can function as offices, storage, or treatment rooms. The property is suitable for retail, office, or service-oriented use subject to applicable CC&Rs, with adaptability for an owner-user or investor.
The unit is part of a mixed-use development in Oakland’s Eastlake district, near Lake Merritt. Public transit, major thoroughfares, and area amenities are accessible from the property. Four assigned parking spaces and an additional storage room are located in a secured garage with interior access.
The unit is part of a mixed-use development in Oakland’s Eastlake district, near Lake Merritt. Public transit, major thoroughfares, and area amenities are accessible from the property. Four assigned parking spaces and an additional storage room are located in a secured garage with interior access.
Key Highlights
- Approximately 2,076 square feet of ground‑floor commercial space
- Built in 2004 with an open retail area and multiple partitioned rooms
- Retail, office, and service‑oriented uses subject to CC&Rs
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
$36,154
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
6.03%
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%
$723,080
$723.1K
Cap Rate 7%
$516,486
$516.5K
Cap Rate 9%
$401,711
$401.7K
Market Conditions
NOI Build-Up for 2,076 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
$62.3K $30.00/SF
− Vacancy
−$14.1K −$6.78/SF
EGI
$48.2K $23.22/SF
− OpEx
−$12.1K −$5.81/SF
NOI
$36.2K $17.42/SF
Area
ZIP 94606
Vacancy
22.60%
Lease Rate
$30.00 /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%
$723,080
Cap Rate 7%
$516,486
Cap Rate 9%
$401,711
Alternative Uses
Best Use
Office B
$516.5K
$451.9K – $602.6K
NOI $36,154 @ 7.0% cap · market cap 6.03%
Second Best
Retail
$422.4K
$369.6K – $492.8K
NOI $29,569 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$945.7K
$827.5K – $1.10M
NOI $66,198 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,518
Businesses Nearby
Explore this area
Business Placement
Demographics for 94606, CA
40,768
Population
17,457
Households
2.3
Avg Household Size
37
Median Age
40%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
17,725
Density / Sq Mi
$70,769
Median Household Income
$47,558
Median Earnings
$1,775
Median Rent
$747,600
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?
Retail space - Flexible commercial condominium with separate rooms, secured parking, and interior garage access in Oakland’s Eastlake district.
Where is this retail space located?
The property is located at 1515 14th Ave #c1 Oakland, CA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Approximately 2,076 square feet of ground‑floor commercial space; Built in 2004 with an open retail area and multiple partitioned rooms; Retail, office, and service‑oriented uses subject to CC&Rs
