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    Mixed-Use Student Housing Opportunity Title is generated by Realmo AI

    2171 Allston Way, Berkeley, CA 94704

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    For Sale
    $16,800,000

    Premier mixed-use property near UC Berkeley with retail and residential.

    Type:Commercial
    Property size:
    31,802 SF
    Lot size:
    0.28 Acres
    Price / SF:
    $528/SF
    Added:
    Jan 22, 2026
    Days on Market:
    132
    Last Refresh:
    Apr 5 at 8:17 pm

    Property Features for 2171 Allston Way

    General Information

    Standard status
    Active
    Size
    31,802 SF
    Lot size
    0.28 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1900

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    Listing Contact
    PHILIP BATLIN
    PHILIP BATLIN

    Listing agent PHILIP BATLIN

    Listing office MARCUS & MILLICHAP

    Listing date Jan 22, 2026

    Source Corcoran

    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 MARCUS & MILLICHAP

    HighLights

    • Prime location directly across from UC Berkeley's main entrance.
    • High‑performing mixed‑use asset with diversified income from student housing and retail.
    • Located in a supply‑constrained student housing market with strong occupancy and rental growth potential.
    • 47 residential units (singles, studios, 1‑BR, 2‑BR) with utilities included, tailored for students/faculty.
    • Six retail suites with existing tenants and one vacant suite offering repositioning opportunity.
    • Excellent long‑term appreciation potential in the high‑barrier Berkeley market.

    Overview

    This mixed-use property, known as Oxford Hall, is located across from the main entrance to UC Berkeley in Downtown Berkeley. The building has a total area of approximately 31,802 square feet, with approximately 23,072 square feet dedicated to residential space and approximately 8,730 square feet for commercial use. The lot size is approximately 12,250 square feet, which is 0.28 acres. The three-story building includes ground-floor retail space and residential units on the upper floors. It features 47 units, including singles, studios, one-bedroom, and two-bedroom layouts, with utilities included. These units are designed for students and faculty. The property also includes six retail suites, currently occupied by tenants such as Replica Copy, Alborz Persian Restaurant, Spice, Sumo Roll Sushi, and Domingo Property Management, with one vacant suite representing a repositioning opportunity. The property is located one block from the Downtown Berkeley BART station and is surrounded by over 200 restaurants, shops, and theaters, as well as the Berkeley Art Museum and Pacific Film Archive. This location benefits from high foot traffic. The property offers diversified income through its student housing and retail components. It is located in a high-barrier Berkeley market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Domingo Property Management Real Estate Agency Blueprint LSAT Preparation Tutoring Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Berkeley
    County
    Alameda
    State
    California
    Longitude
    -122.266
    Latitude
    37.8699

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    FAQs

    What type of property is this?
    Mixed-use property - Premier mixed-use property near UC Berkeley with retail and residential.
    Where is this mixed-use property located?
    The property is located at 2171 Allston Way Berkeley, CA.
    What is the asking price?
    The asking price for this property is $16,800,000.
    What are key features of this property?
    This property features: Prime location directly across from UC Berkeley's main entrance.; High‑performing mixed‑use asset with diversified income from student housing and retail.; Located in a supply‑constrained student housing market with strong occupancy and rental growth potential.
    (650) 391-1700
    We can help!
    Listing Contact
    PHILIP BATLIN
    PHILIP BATLIN
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2171 Allston Way, BERKELEY, CA 94704
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