Union City Office/Warehouse
For Sale
$950,000
29300 Kohoutek Way, Union City, CA 94587
Versatile two-story condo with office and warehouse space.
Property Size2,863 SF
Price / SF$331.82
Days on Market195
Property Features for 29300 Kohoutek Way
General Information
Standard status
Active
Size
2,863 SF
Property subtype
Commercial
Amenities
Assigned Spaces
Composition Roof
Building Details
Year Built
2005
Listing Agency:
CALNET REAL ESTATE SOLUTIONS INC
(510) 992-2800
Listed By:
BUFFIE CHOI
Source:
Corcoran
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 8 at 1:54PM
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 CALNET REAL ESTATE SOLUTIONS INC
Investment Insights
Based on property information with market context.
This two-story office/warehouse condominium offers approximately 2,863 sq ft of functional space in Union City. The first floor features an entry with a private office and a storage room. Beyond the entry is an open area suitable for reception, conference, or waiting, flowing into the warehouse/loading area. The warehouse has approximately 24-ft ceiling height, a roll-up loading door, and a restroom. The open floor plan allows for various operational needs. The second floor, accessed by a wide staircase, includes a large open flex space, a kitchenette/break area, two private offices, and a full bathroom with a shower. The upper level suits office, training, or collaborative work environments. This commercial condo is suitable for light industrial, distribution, showroom, fitness, service, repair, e-commerce, or professional office operations. The property is well-maintained and filled with natural light, presenting an owner-user or investment opportunity. It offers access to I-880, Highway 92, and major East Bay thoroughfares, with nearby shops and restaurants.
Key Highlights
- Highly centralized Union City location with convenient access to I‑880, Highway 92.
- Versatile two‑story office/warehouse condominium with approximately 2,863 sq ft of functional space.
- Warehouse with approximately 24‑ft ceiling height and a roll‑up loading door.**
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
$43,687
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
4.60%
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%
$873,740
$873.7K
Cap Rate 7%
$624,100
$624.1K
Cap Rate 9%
$485,411
$485.4K
Market Conditions
NOI Build-Up for 2,863 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
$55.0K $19.20/SF
− Vacancy
−$3.6K −$1.25/SF
EGI
$51.4K $17.95/SF
− OpEx
−$7.7K −$2.69/SF
NOI
$43.7K $15.26/SF
Area
Alameda County, CA
Vacancy
6.50%
Lease Rate
$19.20 /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%
$873,740
Cap Rate 7%
$624,100
Cap Rate 9%
$485,411
Alternative Uses
Best Use
Warehouse
$624.1K
$546.1K – $728.1K
NOI $43,687 @ 7.0% cap · market cap 4.60%
Second Best
Flex RnD
$574.2K
$502.5K – $670.0K
NOI $40,197 @ 7.0% cap · market cap 4.23%
Theoretical Best
Retail
$13.05M
$11.42M – $15.23M
NOI $913,659 @ 7.0% cap · market cap 96.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,021
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94587, CA
70,121
Population
21,923
Households
3.2
Avg Household Size
40
Median Age
45%
College-Educated
87%
High-School Grad
19.6 sq mi
ZIP Area
3,578
Density / Sq Mi
$137,194
Median Household Income
$66,405
Median Earnings
$2,713
Median Rent
$1,058,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile two-story condo with office and warehouse space.
Where is this flex space located?
The property is located at 29300 Kohoutek Way Union City, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Highly centralized Union City location with convenient access to I‑880, Highway 92.; Versatile two‑story office/warehouse condominium with approximately 2,863 sq ft of functional space.; Warehouse with approximately 24‑ft ceiling height and a roll‑up loading door.**
