Corner Office End Unit with Bay
For Sale
$685,000
2229 Harbor Bay Pkwy, Alameda, CA 94502
Good-condition office end unit with panoramic bay views, featuring separated office and conference space.
Property Size1,855 SF
Days on Market104
Property Features for 2229 Harbor Bay Pkwy
General Information
Standard status
Active
Size
1,855 SF
Property subtype
Comm Ind For Sale
Building Details
Building Size
1,855 SF
Year Built
2007
Listing Agency:
Hannah Investment, Inc.
Listed By:
Gary Tang,
(510) 525-0073
Source:
Coastandcore
Added: May 28
Changed: Sep 6
Last Checked: Sep 8 at 11:05AM
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 Hannah Investment, Inc.
Investment Insights
Based on property information with market context.
This good-condition corner end office unit offers a panoramic view of the bay. The interior is arranged to support both focused work and collaboration, with divided office space along with a dedicated conference room.
Located at 2229 Harbor Bay Pkwy in Alameda, the property benefits from an active pedestrian environment across the street, including a running and walking path. The unit is a corner end placement, which can be particularly useful for tenants seeking a more distinct office layout.
With its separation between office and meeting space, the unit is well suited for professional teams that need a practical work area plus a dedicated room for client discussions, internal meetings, or training. The bay view and corner end configuration add an appealing day-to-day work experience for occupants, whether used as a primary office or a satellite location.
Located at 2229 Harbor Bay Pkwy in Alameda, the property benefits from an active pedestrian environment across the street, including a running and walking path. The unit is a corner end placement, which can be particularly useful for tenants seeking a more distinct office layout.
With its separation between office and meeting space, the unit is well suited for professional teams that need a practical work area plus a dedicated room for client discussions, internal meetings, or training. The bay view and corner end configuration add an appealing day-to-day work experience for occupants, whether used as a primary office or a satellite location.
Key Highlights
- Good‑condition office end unit built in 2007
- Panoramic bay views from the office
- Corner end unit layout
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
$37,488
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
5.47%
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%
$749,760
$749.8K
Cap Rate 7%
$535,543
$535.5K
Cap Rate 9%
$416,533
$416.5K
Market Conditions
NOI Build-Up for 1,855 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
$67.0K $36.12/SF
− Vacancy
−$17.0K −$9.17/SF
EGI
$50.0K $26.95/SF
− OpEx
−$12.5K −$6.74/SF
NOI
$37.5K $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%
$749,760
Cap Rate 7%
$535,543
Cap Rate 9%
$416,533
Alternative Uses
Best Use
Office B
$535.5K
$468.6K – $624.8K
NOI $37,488 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$8.46M
$7.40M – $9.87M
NOI $591,980 @ 7.0% cap · market cap 86.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Good-condition office end unit with panoramic bay views, featuring separated office and conference space.
Where is this office units located?
The property is located at 2229 Harbor Bay Pkwy Alameda, CA.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Good‑condition office end unit built in 2007; Panoramic bay views from the office; Corner end unit layout
