Richmond Automotive Industrial
For Sale
Contact for pricing
2323 Nevin Ave, Richmond, CA 94804
Industrial automotive property with secured parking and income potential.
Property Size12,390 SF
Lot Size0.21 Acres
Price / SF$213.88
Days on Market150
Property Features for 2323 Nevin Ave
General Information
Standard status
Active
Size
12,390 SF
Lot size
0.21 Acres
Property subtype
Industrial
Investment Type
Owner/User
Building Details
Buildings
1
Stories
2
Units
2
Listing Agency:
HL Commercial Real Estate
(415) 454-2030
Listed By:
Joe Morrison · License #02067309
Source:
Crexi
Added: Mar 17
Changed: Aug 11
Last Checked: Aug 12 at 4:53AM
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 HL Commercial Real Estate
Investment Insights
Based on property information with market context.
The property at 2323 Nevin Avenue is an industrial automotive property located in Richmond, California, situated within Contra Costa County’s established industrial and service corridor. It is suitable for auto repair, specialty automotive, and light industrial uses. The site includes an approximately 9,000 square foot gated parking lot and five roll-up doors. The property has three-phase power with approximately 200 amps, and a spray booth preparation station. The interior features a large showroom/retail area with vehicle-accessible double-door entry and a separate service entrance. There is approximately 2,000 square feet of bonus mezzanine space, along with four restrooms. Additionally, the property includes a separate 1,200 square foot unit within the gated parking area, currently leased to an auto repair tenant and equipped with two roll-up doors, providing supplemental income and operational flexibility for an owner-user or investor. The total property size is 12,390 square feet.
Key Highlights
- 9,000± SF gated parking lot ideal for automotive use.
- Includes a separate 1,200± SF leased unit with two roll‑up doors, providing income.
- Features five (5) roll‑up doors and three‑phase power (200 amps).
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
$166,652
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
6.29%
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%
$3,333,040
$3.3M
Cap Rate 7%
$2,380,743
$2.4M
Cap Rate 9%
$1,851,689
$1.9M
Market Conditions
NOI Build-Up for 12,390 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
$260.2K $21.00/SF
− Vacancy
−$22.1K −$1.79/SF
EGI
$238.1K $19.22/SF
− OpEx
−$71.4K −$5.76/SF
NOI
$166.7K $13.45/SF
Area
Richmond, CA
Vacancy
8.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,333,040
Cap Rate 7%
$2,380,743
Cap Rate 9%
$1,851,689
Alternative Uses
Best Use
Retail
$2.38M
$2.08M – $2.78M
NOI $166,652 @ 7.0% cap · market cap 6.29%
Second Best
Flex RnD
$2.16M
$1.89M – $2.52M
NOI $151,148 @ 7.0% cap · market cap 5.70%
Theoretical Best
Multifamily LT 5
$2.96M
$2.59M – $3.45M
NOI $207,195 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,167
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94804, CA
45,108
Population
16,659
Households
2.7
Avg Household Size
37
Median Age
32%
College-Educated
78%
High-School Grad
6.5 sq mi
ZIP Area
6,940
Density / Sq Mi
$86,430
Median Household Income
$46,473
Median Earnings
$1,825
Median Rent
$618,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- R&D Auto Electric — 110 S 23rd St, Richmond, CA 94804
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- Rigoberto Flatbed Truck Inc. — 2429 Maine Ave, Richmond, CA 94804
- Collision Craft — 2400 Florida Ave, Richmond, CA 94804
- Diesel mechanic & heavy equipment repair service — 2915 Florida Ave, Richmond, CA 94804
Frequently Asked Questions
What type of property is this?
Auto shop - Industrial automotive property with secured parking and income potential.
Where is this auto shop located?
The property is located at 2323 Nevin Ave Richmond, CA.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 9,000± SF gated parking lot ideal for automotive use.; Includes a separate 1,200± SF leased unit with two roll‑up doors, providing income.; Features five (5) roll‑up doors and three‑phase power (200 amps).
