Gated Office Building with
For Sale
$650,000
2275 Washington Ave, San Leandro, CA 94577
Well-maintained office property with updated finishes, a full bath, kitchenette, and gated outdoor space.
Property Size1,696 SF
Lot Size0.14 Acres
Price / SF$383.25
Days on Market61
Property Features for 2275 Washington Ave
General Information
Standard status
Active
Size
1,696 SF
Total Parking Spaces
6
Lot size
0.14 Acres
Property subtype
Commercial/Industrial
Amenities
garden
gated access
air conditioning
kitchenette
Building Details
Year Built
1951
Listing Agency:
MASON MA, BROKER
(415) 812-5153
Listed By:
Mason Ma · License #01460324
(415) 812-5153
Source:
Exitrealty
Added: Jul 2
Changed: Aug 29
Last Checked: Aug 30 at 2:09PM
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 MASON MA, BROKER
Investment Insights
Based on property information with market context.
This office building offers approximately 1,696 square feet arranged across six rooms, with a full bathroom and a compact kitchenette. Recent property improvements include a newer roof, updated flooring, windows, interior paint, and lighting. The space also has an AC unit and is complemented by a small garden within a fully gated setting.
A rear parking area provides six spaces, while the property occupies a 5,900-square-foot lot. The rear gate shares an easement with the neighboring property. Built in 1951, the building is near downtown San Leandro and provides a quiet setting for office use.
A rear parking area provides six spaces, while the property occupies a 5,900-square-foot lot. The rear gate shares an easement with the neighboring property. Built in 1951, the building is near downtown San Leandro and provides a quiet setting for office use.
Key Highlights
- Approximately 1,696 square feet of office space across 6 rooms
- 5,900‑square‑foot lot with a small garden and full perimeter gating
- Rear parking lot with space for 6 cars
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
$34,275
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
5.27%
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%
$685,500
$685.5K
Cap Rate 7%
$489,643
$489.6K
Cap Rate 9%
$380,833
$380.8K
Market Conditions
NOI Build-Up for 1,696 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
$61.3K $36.12/SF
− Vacancy
−$15.6K −$9.17/SF
EGI
$45.7K $26.95/SF
− OpEx
−$11.4K −$6.74/SF
NOI
$34.3K $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%
$685,500
Cap Rate 7%
$489,643
Cap Rate 9%
$380,833
Alternative Uses
Best Use
Office B
$489.6K
$428.4K – $571.3K
NOI $34,275 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$7.73M
$6.77M – $9.02M
NOI $541,239 @ 7.0% cap · market cap 83.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 94577, CA
48,868
Population
17,681
Households
2.8
Avg Household Size
41
Median Age
39%
College-Educated
86%
High-School Grad
8.1 sq mi
ZIP Area
6,033
Density / Sq Mi
$110,989
Median Household Income
$56,382
Median Earnings
$2,199
Median Rent
$824,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office property with updated finishes, a full bath, kitchenette, and gated outdoor space.
Where is this office building located?
The property is located at 2275 Washington Ave San Leandro, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 1,696 square feet of office space across 6 rooms; 5,900‑square‑foot lot with a small garden and full perimeter gating; Rear parking lot with space for 6 cars
