Versatile Commercial Property For
For Sale
$748,000
2860 38th Ave, Oakland, CA 94619
3,050 sq. ft. building ideal for auto repair.
Property Size3,050 SF
Lot Size0.11 Acres
Price / SF$245.25
Days on Market298
Property Features for 2860 38th Ave
General Information
Standard status
Active
Size
3,050 SF
Lot size
0.11 Acres
Property subtype
Commercial
Amenities
Enclosed
Building Details
Year Built
1930
Listing Agency:
VILLAGE PROPERTIES & ASSOC.
(510) 481-8400
Listed By:
SAM MEDINA · License #01421545
Source:
Corcoran
Added: Oct 17, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:06AM
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 VILLAGE PROPERTIES & ASSOC.
Investment Insights
Based on property information with market context.
This commercial property offers a 3,050 sq. ft. building on a 5,000 sq. ft. lot, suitable for auto repair, retail, or light industrial use. The property includes a spacious shop area, two drive-in doors, a reception area, and office space. Multiple storage rooms are available. A secure rear parking area is included. The property is zoned RM-3, C, S-13. The location is just below I-580, providing visibility and access to major thoroughfares for local and commuter traffic.
Key Highlights
- Versatile commercial property suitable for auto repair, retail, or light industrial use.
- Convenient location just below I‑580 with great visibility and easy access to major thoroughfares.
- Spacious 3,050 sq. ft. building on a 5,000 sq. ft. lot.
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
$59,137
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
7.91%
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%
$1,182,740
$1.2M
Cap Rate 7%
$844,814
$844.8K
Cap Rate 9%
$657,078
$657.1K
Market Conditions
NOI Build-Up for 3,050 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
$89.3K $29.28/SF
− Vacancy
−$4.8K −$1.58/SF
EGI
$84.5K $27.70/SF
− OpEx
−$25.3K −$8.31/SF
NOI
$59.1K $19.39/SF
Area
Oakland, CA
Vacancy
5.40%
Lease Rate
$29.28 /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%
$1,182,740
Cap Rate 7%
$844,814
Cap Rate 9%
$657,078
Alternative Uses
Best Use
Retail
$844.8K
$739.2K – $985.6K
NOI $59,137 @ 7.0% cap · market cap 7.91%
Second Best
Industrial
$533.1K
$466.4K – $621.9K
NOI $37,314 @ 7.0% cap · market cap 4.99%
Theoretical Best
Multifamily LT 5
$998.6K
$873.7K – $1.16M
NOI $69,899 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
69k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 22%
Home Improvements & Furnishings 16%
Apparel 10%
Laurel Ace Hardware
Home Improvements & Furnishings
10,957 visits/mo
0.4 miles
Chevron
Shops & Services
9,768 visits/mo
0.4 miles
Citibank
Shops & Services
9,174 visits/mo
0.4 miles
Goodwill
Apparel
6,834 visits/mo
0.5 miles
Bank of America
Shops & Services
6,674 visits/mo
0.4 miles
Demographics for 94619, CA
24,867
Population
10,348
Households
2.4
Avg Household Size
41
Median Age
57%
College-Educated
89%
High-School Grad
8.3 sq mi
ZIP Area
2,996
Density / Sq Mi
$129,879
Median Household Income
$65,351
Median Earnings
$2,131
Median Rent
$997,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - 3,050 sq. ft. building ideal for auto repair.
Where is this auto shop located?
The property is located at 2860 38th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $748,000.
What are key features of this property?
This property features: Versatile commercial property suitable for auto repair, retail, or light industrial use.; Convenient location just below I‑580 with great visibility and easy access to major thoroughfares.; Spacious 3,050 sq. ft. building on a 5,000 sq. ft. lot.
