Renovated Mixed-Use
New
For Sale
Contact for pricing
2520 Milvia Street, Berkeley, CA 94704
Vacant rooms, shared areas, secured rear parking, and basement storage accommodate multiple commercial configurations.
Property Size2,339 SF
Price / SF$619.92
Days on Market5
Property Features for 2520 Milvia Street
General Information
Standard status
Active
Size
2,339 SF
Property subtype
Multifamily, Office
Zoning
R-4 Multi-Family Residential
Building Details
Year Built
1940
Stories
2
Units
2
Listing Agency:
COMPASS
(916) 698-9954
Listed By:
Brian von Lackum · License #01527235
Source:
Crexi
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 3:40AM
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 COMPASS
Investment Insights
Based on property information with market context.
This mixed-use property at 2520 Milvia Street in Berkeley was built in 1940 and has undergone substantial renovation over several years. Its dormitory-style room arrangement, generous shared areas, and current vacancy provide a flexible physical layout that can also function as medical or professional office space.
The building is zoned R-4 Multi-Family Residential and includes a secured surface parking lot behind the structure. Basement storage adds supporting utility below the main floor. The property is positioned within a university housing market of 45,882 students, while the university houses 24 percent of that population.
The building is zoned R-4 Multi-Family Residential and includes a secured surface parking lot behind the structure. Basement storage adds supporting utility below the main floor. The property is positioned within a university housing market of 45,882 students, while the university houses 24 percent of that population.
Key Highlights
- Substantially renovated over several years
- Dormitory‑style layout with generous common areas
- Vacant rooms allow the next owner to establish the use
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
$46,490
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
3.21%
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%
$929,800
$929.8K
Cap Rate 7%
$664,143
$664.1K
Cap Rate 9%
$516,556
$516.6K
Market Conditions
NOI Build-Up for 2,339 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
$89.0K $38.04/SF
− Vacancy
−$4.4K −$1.90/SF
EGI
$84.5K $36.14/SF
− OpEx
−$38.0K −$16.26/SF
NOI
$46.5K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
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%
$929,800
Cap Rate 7%
$664,143
Cap Rate 9%
$516,556
Alternative Uses
Best Use
Apartment 5plus
$664.1K
$581.1K – $774.8K
NOI $46,490 @ 7.0% cap · market cap 3.21%
Second Best
Mixed Use
$622.5K
$544.7K – $726.3K
NOI $43,576 @ 7.0% cap · market cap 3.01%
Theoretical Best
Specialty Retail
$904.6K
$791.5K – $1.06M
NOI $63,321 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,672
Businesses Nearby
Explore this area
Business Placement
Demographics for 94704, CA
25,259
Population
9,722
Households
2.6
Avg Household Size
26
Median Age
72%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
28,066
Density / Sq Mi
$52,105
Median Household Income
$17,509
Median Earnings
$1,987
Median Rent
$918,500
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?
Mixed-use property - Vacant rooms, shared areas, secured rear parking, and basement storage accommodate multiple commercial configurations.
Where is this mixed-use property located?
The property is located at 2520 Milvia Street Berkeley, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Substantially renovated over several years; Dormitory‑style layout with generous common areas; Vacant rooms allow the next owner to establish the use
