Ground-Level Condo with Street
For Sale
$275,000
1515 14th Avenue #C2, Oakland, CA 94606
Versatile condo ideal for office, retail, or creative use.
Property Size520 SF
Price / SF$528.85
Days on Market417
Property Features for 1515 14th Avenue #C2
General Information
Standard status
Active
Size
520 SF
Property subtype
Commercial
Amenities
Handicapped Bathroom Features
On Street
Rolled Composition Roof
Building Details
Year Built
2004
Listing Agency:
REILLIST
(415) 900-9469
Listed By:
PEDRO GARCIA · License #01798480
Source:
Corcoran
Added: Jun 19, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:45AM
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 REILLIST
Investment Insights
Based on property information with market context.
This ground-level condo offers excellent street visibility and is suitable for office, retail, professional services, or creative purposes. The well-maintained unit features a private full bathroom with a shower. Its location provides quick access to freeways, facilitating convenient commuting. The property has a size of 520 square feet.
Key Highlights
- Ground‑level condo with excellent street visibility, ideal for business or creative use.
- Features a private full bathroom with shower.
- Quick access to freeways.
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
$9,056
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
3.29%
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%
$181,120
$181.1K
Cap Rate 7%
$129,371
$129.4K
Cap Rate 9%
$100,622
$100.6K
Market Conditions
NOI Build-Up for 520 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
$15.6K $30.00/SF
− Vacancy
−$3.5K −$6.78/SF
EGI
$12.1K $23.22/SF
− OpEx
−$3.0K −$5.81/SF
NOI
$9.1K $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%
$181,120
Cap Rate 7%
$129,371
Cap Rate 9%
$100,622
Alternative Uses
Best Use
Office B
$129.4K
$113.2K – $150.9K
NOI $9,056 @ 7.0% cap · market cap 3.29%
Second Best
Retail
$105.8K
$92.6K – $123.4K
NOI $7,406 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$236.9K
$207.3K – $276.4K
NOI $16,581 @ 7.0% cap · market cap 6.03%
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?
Office units - Versatile condo ideal for office, retail, or creative use.
Where is this office units located?
The property is located at 1515 14th Avenue #C2 Oakland, CA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Ground‑level condo with excellent street visibility, ideal for business or creative use.; Features a private full bathroom with shower.; Quick access to freeways.
