Berkeley Mixed-Use Investment
For Sale
Contact for pricing
2110 Ashby Ave, Berkeley, CA 94705
Mixed-use commercial building in Berkeley's Elmwood neighborhood.
Property Size6,600 SF
Price / SF$318.18
Days on Market586
Property Features for 2110 Ashby Ave
General Information
Standard status
Active
Size
6,600 SF
Property subtype
Mixed Use, Multifamily
Zoning
Commercial / Office / Residential / Mixed Use
Occupancy
100%
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$129,175
Building Details
Year Built
1904
Year Renovated
2018
Buildings
1
Stories
3
Units
12
Tenancy
Multi
Listing Agency:
Better Home and Gardens Real Estate Reliance Company
Listed By:
Anna Li · License #CA 21350045
(510) 853-8810
Source:
Crexi
Added: Jan 27, 2025
Changed: Sep 3
Last Checked: Sep 3 at 12:47AM
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 Better Home and Gardens Real Estate Reliance Company
Investment Insights
Based on property information with market context.
Located in Berkeley's Elmwood neighborhood, this mixed-use commercial building presents an investment opportunity with potential for income and long-term tenants. The property is fully occupied and most units are well-maintained. On-site laundry and garden areas contribute to tenant satisfaction. Seismic upgrades and dual-pane windows have been implemented. A detached storage unit offers versatile usage options and potential for conversion into an Accessory Dwelling Unit (ADU), further increasing income potential. The property is near the Ashby BART station and offers easy freeway access. Proximity to Berkeley Bowl, Whole Foods, local shops, dining, and UC Berkeley ensures a steady flow of potential tenants and business clients. The current actual cap rate is 5.9%. The property size is 6,600 square feet.
Key Highlights
- Prime location in Berkeley's Elmwood neighborhood, near Ashby BART, freeway access, Berkeley Bowl, Whole Foods, local shops/dining, and UC Berkeley.
- Current actual cap rate of 5.9% with upside potential and stable income from long‑term tenants.
- Mix‑used commercial building that is fully occupied with well‑maintained units.
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
$131,181
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
6.25%
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%
$2,623,620
$2.6M
Cap Rate 7%
$1,874,014
$1.9M
Cap Rate 9%
$1,457,567
$1.5M
Market Conditions
NOI Build-Up for 6,600 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
$251.1K $38.04/SF
− Vacancy
−$12.6K −$1.90/SF
EGI
$238.5K $36.14/SF
− OpEx
−$107.3K −$16.26/SF
NOI
$131.2K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
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%
$2,623,620
Cap Rate 7%
$1,874,014
Cap Rate 9%
$1,457,567
Alternative Uses
Best Use
Apartment 5plus
$1.87M
$1.64M – $2.19M
NOI $131,181 @ 7.0% cap · market cap 6.25%
Second Best
Mixed Use
$1.76M
$1.54M – $2.05M
NOI $122,958 @ 7.0% cap · market cap 5.86%
Theoretical Best
Specialty Retail
$2.55M
$2.23M – $2.98M
NOI $178,675 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 94705, CA
13,591
Population
6,335
Households
2.1
Avg Household Size
42
Median Age
79%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
3,997
Density / Sq Mi
$163,254
Median Household Income
$75,864
Median Earnings
$2,330
Median Rent
$1,892,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use commercial building in Berkeley's Elmwood neighborhood.
Where is this mixed-use property located?
The property is located at 2110 Ashby Ave Berkeley, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Prime location in Berkeley's Elmwood neighborhood, near Ashby BART, freeway access, Berkeley Bowl, Whole Foods, local shops/dining, and UC Berkeley.; Current actual cap rate of 5.9% with upside potential and stable income from long‑term tenants.; Mix‑used commercial building that is fully occupied with well‑maintained units.
