Historic Office
For Sale
$749,000
2131 San Pablo Avenue, Pinole, CA 94564
Commercial Sale, Pinole, CA
Property Size2,652 SF
Lot Size0.14 Acres
Price / SF$282.43
Days on Market1102
Property Features for 2131 San Pablo Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
Call/text Kelly 415-619-1728, or Derren 909-905-5114, derren@minchenteam.com
Subdivision
Pinole
Standard status
Active
APN
4011610088
Size
2,652 SF
Lot size
0.14 Acres
Amenities
high ceilings
large stained glass windows
grand spiral staircase
classical fixtures
vintage-inspired kitchen
charming stove
office and conference rooms
reception area
two bathrooms
Listing Agency:
Compass
(415) 660-9955
Listed By:
Kelly D Minchen
(415) 619-1728
Added: Sep 22, 2023
Changed: Aug 27
Last Checked: Sep 27 at 1:06PM
MLS# 423912532
Copyright © 2026 San Francisco Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,652-square-foot office property occupies a 0.1354-acre parcel at 2131 San Pablo Avenue. Constructed in the late 1800s as one of the area’s early churches, the building retains distinctive period elements, including tall ceilings, stained glass windows, a spiral staircase, and classical fixtures. A vintage-style kitchen adds another functional amenity.
The interior is arranged for commercial office use, with dedicated office and conference rooms, a reception area, and two bathrooms. The property is located in Old Town Pinole, near cafes, shopping, and the coastline, providing a walkable surrounding setting for an office environment.
The interior is arranged for commercial office use, with dedicated office and conference rooms, a reception area, and two bathrooms. The property is located in Old Town Pinole, near cafes, shopping, and the coastline, providing a walkable surrounding setting for an office environment.
Key Highlights
- 2,652‑square‑foot office building on a 0.1354‑acre parcel
- Constructed in the late 1800s as one of the area’s early churches
- Stained glass windows, high ceilings, classical fixtures, and a spiral staircase
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
$47,951
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
6.40%
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%
$959,020
$959.0K
Cap Rate 7%
$685,014
$685.0K
Cap Rate 9%
$532,789
$532.8K
Market Conditions
NOI Build-Up for 2,652 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
$78.0K $29.40/SF
− Vacancy
−$14.0K −$5.29/SF
EGI
$63.9K $24.11/SF
− OpEx
−$16.0K −$6.03/SF
NOI
$48.0K $18.08/SF
Area
Contra Costa County, CA
Vacancy
18.00%
Lease Rate
$29.40 /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%
$959,020
Cap Rate 7%
$685,014
Cap Rate 9%
$532,789
Alternative Uses
Best Use
Office B
$685.0K
$599.4K – $799.2K
NOI $47,951 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$877.2K – $1.17M
NOI $70,172 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Explore this area
Business Placement
Demographics for 94564, CA
19,024
Population
7,285
Households
2.6
Avg Household Size
44
Median Age
39%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
2,798
Density / Sq Mi
$120,833
Median Household Income
$55,841
Median Earnings
$2,738
Median Rent
$697,100
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Period architectural details complement a flexible office layout with conference rooms, reception space, and two bathrooms.
Where is this office building located?
The property is located at 2131 San Pablo Avenue Pinole, CA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2,652‑square‑foot office building on a 0.1354‑acre parcel; Constructed in the late 1800s as one of the area’s early churches; Stained glass windows, high ceilings, classical fixtures, and a spiral staircase
