Mixed-Use Property in Central
For Sale
$870,000
2109 Lincoln Ave, Alameda, CA 94501
Duplex with commercial space in central Alameda location.
Property Size1,968 SF
Lot Size0.06 Acres
Days on Market368
Property Features for 2109 Lincoln Ave
General Information
Standard status
Active
Size
1,968 SF
Lot size
0.06 Acres
Property subtype
Duplex
Amenities
Wall Furnace
No Air Conditioning
Gas Water Heater
Building Details
Building Size
1,968 SF
Year Built
1950
Listing Agency:
Oakland
(510) 913-1600
Listed By:
Ringo Liu · License #01106012
(510) 913-1600
Source:
Kw
Added: Aug 24, 2025
Changed: Aug 26
Last Checked: Aug 26 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 Oakland
Investment Insights
Based on property information with market context.
This property in central Alameda presents an investment opportunity, featuring a duplex with a commercial space. The property includes one ground-floor commercial space and two residential units located above. Unit A, situated on the upper level, is a sunny and spacious one-bedroom, one-bathroom apartment. Unit B offers two bedrooms and one bathroom and has been recently renovated. The property has separate meters for each unit. Outdoor space is available. The central location provides excellent street visibility for the commercial unit, with comfortable living spaces above. The property is in close proximity to schools, transportation, and Park Street.
Key Highlights
- Central Alameda location
- Duplex with one commercial space offering excellent street visibility
- Separate meters for each unit
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
$66,056
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
7.59%
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%
$1,321,120
$1.3M
Cap Rate 7%
$943,657
$943.7K
Cap Rate 9%
$733,956
$734.0K
Market Conditions
NOI Build-Up for 1,968 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
$100.4K $51.00/SF
− Vacancy
−$6.0K −$3.05/SF
EGI
$94.4K $47.95/SF
− OpEx
−$28.3K −$14.39/SF
NOI
$66.1K $33.57/SF
Area
Alameda County, CA
Vacancy
5.98%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,321,120
Cap Rate 7%
$943,657
Cap Rate 9%
$733,956
Alternative Uses
Best Use
Multifamily LT 5
$943.7K
$825.7K – $1.10M
NOI $66,056 @ 7.0% cap · market cap 7.59%
Second Best
Mixed Use
$569.3K
$498.2K – $664.2K
NOI $39,852 @ 7.0% cap · market cap 4.58%
Theoretical Best
Retail
$8.97M
$7.85M – $10.47M
NOI $628,041 @ 7.0% cap · market cap 72.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,426
Businesses Nearby
Explore this area
Business Placement
Demographics for 94501, CA
64,116
Population
27,117
Households
2.4
Avg Household Size
41
Median Age
58%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
8,015
Density / Sq Mi
$119,500
Median Household Income
$75,514
Median Earnings
$2,362
Median Rent
$1,213,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Duplex with commercial space in central Alameda location.
Where is this mixed-use property located?
The property is located at 2109 Lincoln Ave Alameda, CA.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Central Alameda location; Duplex with one commercial space offering **excellent street visibility**; Separate meters for each unit
