Turn-Key Two-Story Office Corner
For Sale
Contact for pricing
2221-2239 Harbor Bay Pkwy, Alameda, CA 94502
Furnished two-story corner office suite with panoramic views, outdoor seating areas, and reserved and unreserved parking.
Property Size1,703 SF
Price / SF$378.74
Days on Market87
Property Features for 2221-2239 Harbor Bay Pkwy
General Information
Standard status
Active
Size
1,703 SF
Property subtype
OFFICE
Additional Details
Furnished
Yes
Business Included
No
Amenities
outdoor seating areas
walking/bike paths
bay views
Building Details
Stories
2
Listing Agency:
Newmark | Oakland
(510) 923-6200
Listed By:
Shawn Klein
(510) 923-6209
Source:
Moodyscre
Added: Jun 19
Changed: Sep 3
Last Checked: Sep 12 at 11:00AM
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 Newmark | Oakland
Investment Insights
Based on property information with market context.
This turn-key, furnished two-story office suite totals 1,703 square feet and is positioned as a corner unit with panoramic views. The space includes outdoor seating areas and is supported by generous reserved and unreserved parking, offering convenient on-site access for tenants and visitors.
The property is described as being within walking distance to the San Francisco Ferry Terminal and minutes to Oakland International Airport. The listing also notes San Francisco Bay views along with walking and bike paths.
The buyer should note the monthly HOA dues of $709. The remarks indicate flexible zoning permitting office, R&D, retail, distribution, medical, light manufacturing, and gym uses, subject to applicable regulations. Availability is scheduled for September 1, 2026. Sale price is listed at $645,000.
The property is described as being within walking distance to the San Francisco Ferry Terminal and minutes to Oakland International Airport. The listing also notes San Francisco Bay views along with walking and bike paths.
The buyer should note the monthly HOA dues of $709. The remarks indicate flexible zoning permitting office, R&D, retail, distribution, medical, light manufacturing, and gym uses, subject to applicable regulations. Availability is scheduled for September 1, 2026. Sale price is listed at $645,000.
Key Highlights
- 1,703 SF two‑story office suite in a furnished turn‑key presentation
- Corner unit with panoramic views and San Francisco Bay views
- Outdoor seating areas included
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
$34,416
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
5.34%
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%
$688,320
$688.3K
Cap Rate 7%
$491,657
$491.7K
Cap Rate 9%
$382,400
$382.4K
Market Conditions
NOI Build-Up for 1,703 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
$61.5K $36.12/SF
− Vacancy
−$15.6K −$9.17/SF
EGI
$45.9K $26.95/SF
− OpEx
−$11.5K −$6.74/SF
NOI
$34.4K $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%
$688,320
Cap Rate 7%
$491,657
Cap Rate 9%
$382,400
Alternative Uses
Best Use
Office B
$491.7K
$430.2K – $573.6K
NOI $34,416 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$7.76M
$6.79M – $9.06M
NOI $543,472 @ 7.0% cap · market cap 84.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
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Business Placement
Demographics for 94502, CA
14,164
Population
5,012
Households
2.8
Avg Household Size
45
Median Age
71%
College-Educated
95%
High-School Grad
2.5 sq mi
ZIP Area
5,666
Density / Sq Mi
$194,821
Median Household Income
$101,193
Median Earnings
$3,501
Median Rent
$1,182,600
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 units - Furnished two-story corner office suite with panoramic views, outdoor seating areas, and reserved and unreserved parking.
Where is this office units located?
The property is located at 2221-2239 Harbor Bay Pkwy Alameda, CA.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 1,703 SF two‑story office suite in a furnished turn‑key presentation; Corner unit with panoramic views and San Francisco Bay views; Outdoor seating areas included
