Multi-Unit Office
For Sale
$1,385,000
16378 E 14th St, San Leandro, CA 94578
Well-maintained office building with ground-floor vacancy for an owner-user and upstairs units that are mostly leased.
Property Size6,225 SF
Price / SF$222.49
Days on Market269
Property Features for 16378 E 14th St
General Information
Standard status
Active
Size
6,225 SF
Total Parking Spaces
10
Property subtype
Commercial/Industrial
Additional Details
Highway Access
Yes
Office Units
8
Building Details
Year Built
1958
Listing Agency:
Adams Adams & Morris
(510) 537-4314
Listed By:
Max Morris · License #00885544
(510) 537-4314
Source:
Exitrealty
Added: Nov 15, 2025
Changed: Aug 8
Last Checked: Aug 11 at 7:28AM
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 Adams Adams & Morris
Investment Insights
Based on property information with market context.
This well-maintained multi-unit office building contains a total of eight office units. The entire ground floor is currently vacant, which can work well for an owner-user looking to occupy their own space. The upstairs level is mostly leased, with one unit currently vacant.
The property is positioned on a high-visibility corridor in central San Leandro, on E. 14th Street, a major arterial road. It offers excellent transit access, with minutes to Bay Fair BART and the I-580/I-880 freeways. The surrounding area includes retail amenities such as Bayfair Center, Starbucks, and Safeway, along with local eateries, supported by strong foot and vehicle traffic.
With 10 on-site parking spaces, the building is practical for daily employee and client access. The current ground-floor availability may help support an owner-occupant’s plans while retaining income potential from the mostly leased upstairs units, offering a straightforward path for buyers seeking to combine occupancy and leasing within the same professional office asset.
The property is positioned on a high-visibility corridor in central San Leandro, on E. 14th Street, a major arterial road. It offers excellent transit access, with minutes to Bay Fair BART and the I-580/I-880 freeways. The surrounding area includes retail amenities such as Bayfair Center, Starbucks, and Safeway, along with local eateries, supported by strong foot and vehicle traffic.
With 10 on-site parking spaces, the building is practical for daily employee and client access. The current ground-floor availability may help support an owner-occupant’s plans while retaining income potential from the mostly leased upstairs units, offering a straightforward path for buyers seeking to combine occupancy and leasing within the same professional office asset.
Key Highlights
- Well‑maintained office building built in 1958 with 8 total office units.
- Entire ground floor is currently vacant, offering space for an owner‑user.
- Upstairs is mostly leased, with 1 unit currently vacant for potential additional income.
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
$125,802
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
9.08%
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%
$2,516,040
$2.5M
Cap Rate 7%
$1,797,171
$1.8M
Cap Rate 9%
$1,397,800
$1.4M
Market Conditions
NOI Build-Up for 6,225 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
$224.8K $36.12/SF
− Vacancy
−$57.1K −$9.17/SF
EGI
$167.7K $26.95/SF
− OpEx
−$41.9K −$6.74/SF
NOI
$125.8K $20.21/SF
Area
Alameda County, CA
Vacancy
25.40%
Lease Rate
$36.12 /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%
$2,516,040
Cap Rate 7%
$1,797,171
Cap Rate 9%
$1,397,800
Alternative Uses
Best Use
Office B
$1.80M
$1.57M – $2.10M
NOI $125,802 @ 7.0% cap · market cap 9.08%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$28.38M
$24.83M – $33.11M
NOI $1,986,562 @ 7.0% cap · market cap 143.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
Explore this area
Business Placement
Demographics for 94578, CA
40,957
Population
14,819
Households
2.8
Avg Household Size
37
Median Age
25%
College-Educated
82%
High-School Grad
4.6 sq mi
ZIP Area
8,904
Density / Sq Mi
$89,149
Median Household Income
$47,672
Median Earnings
$2,077
Median Rent
$793,500
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 building - Well-maintained office building with ground-floor vacancy for an owner-user and upstairs units that are mostly leased.
Where is this office building located?
The property is located at 16378 E 14th St San Leandro, CA.
What is the asking price?
The asking price for this property is $1,385,000.
What are key features of this property?
This property features: Well‑maintained office building built in 1958 with 8 total office units.; Entire ground floor is currently vacant, offering space for an owner‑user.; Upstairs is mostly leased, with 1 unit currently vacant for potential additional income.
