Versatile Commercial Building in
For Sale
$849,000
2809 Macdonald AVE, Richmond, CA 94804
6,312 Sq ft building with three units and parking.
Property Size6,312 SF
Lot Size0.23 Acres
Price / SF$134.51
Days on Market155
Property Features for 2809 Macdonald AVE
General Information
Standard status
Active
Size
6,312 SF
Lot size
0.23 Acres
Property subtype
Commercial
Building Details
Year Built
1937
Listing Agency:
COLDWELL BANKER REALTY
(510) 486-1495
Listed By:
HAILI LIANG · License #01513871
Source:
Corcoran
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This versatile commercial building offers 6,312 square feet of space on a 10,000 square foot lot. The property is comprised of three separate units, each featuring its own entrance. Previously occupied by a dental office, a CPA office, and a cell phone retailer, the building is now vacant and available for a new owner. Included in the sale is a 40-foot walk-in metal storage container. The property also features a gated private parking lot with 17 spaces. Centrally located in Richmond's downtown and civic center district, the property is situated just a few blocks from City Hall and the Richmond Memorial Convention Center, offering excellent walkability and accessibility. Both I80 and I580 are within minutes, and the El Cerrito Del Norte BART station is 2 miles away.
Key Highlights
- Prime downtown location in Richmond's civic center district, near City Hall and the Richmond Memorial Convention Center.
- Versatile 6,312 Sq ft commercial building with three separate units, each with its own entrance.
- Gated private parking lot with 17 spaces.
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
$42,203
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
4.97%
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%
$844,060
$844.1K
Cap Rate 7%
$602,900
$602.9K
Cap Rate 9%
$468,922
$468.9K
Market Conditions
NOI Build-Up for 6,312 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
$52.3K $8.28/SF
− Vacancy
−$2.6K −$0.41/SF
EGI
$49.7K $7.87/SF
− OpEx
−$7.4K −$1.18/SF
NOI
$42.2K $6.69/SF
Area
Richmond, CA
Vacancy
5.00%
Lease Rate
$8.28 /SF/Yr
Expense Ratio
15.00%
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%
$844,060
Cap Rate 7%
$602,900
Cap Rate 9%
$468,922
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.42M
NOI $84,900 @ 7.0% cap · market cap 10.00%
Second Best
Office B
$1.12M
$978.3K – $1.30M
NOI $78,267 @ 7.0% cap · market cap 9.22%
Theoretical Best
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,554 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,277
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 6,312 Sq ft building with three units and parking.
Where is this office units located?
The property is located at 2809 Macdonald AVE Richmond, CA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Prime downtown location in Richmond's civic center district, near City Hall and the Richmond Memorial Convention Center.; Versatile 6,312 Sq ft commercial building with three separate units, each with its own entrance.; Gated private parking lot with 17 spaces.
