Oakland Medical Office Building For
2939 Summit Street Oakland, CA 94612
2939 Summit Street, Oakland, CA, 94612
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For Sale
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Medical office building with parking lot, development potential in Oakland.
Property Size4,770 SF
Lot Size0.21 Acres
Price / SF$524.11
Days on Market58
Property Features for 2939 Summit Street
General Information
- Standard status
- Active
- Size
- 4,770 SF
- Lot size
- 0.21 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1969
Listing Agency
Colliers - Oakland, California
Listed by
Aileen Dolby · License #00949630
Source
Crexi
Added: May 20 Checked: Jul 16 at 8:37 am
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 Colliers - Oakland, California
Investment Insights
Based on property information with market context.
The property at 2939 Summit Street in Oakland, CA, features a commercial medical office building of approximately 4,770 square feet, constructed in 1969, along with a perpendicular surface parking lot of approximately 6,098 square feet. The total land area for this "L" shaped assembly is 9,147 square feet. Zoned CC-2, the site permits medical uses as well as residential development. This property presents a multifaceted opportunity for an owner/user interested in remodeling the existing structure for their own use or pursuing a ground-up development. The East Bay's economic diversity reduces its reliance on any single industry for economic growth. The East Bay is home to the Port of Oakland, a major economic force and one of the busiest ports in the U.S. The East Bay also hosts major operations for a diverse set of large corporations, including major healthcare players such as, Kaiser Permanente and Sutter Health. Bay Area multi-family development has cooled down after a boom pre-pandemic because of interest rates. Developers are still searching for their project for the next 'cycle'; however, cost of land is depressed from the high points of a few years ago.
Key Highlights
- Zoning allows for both medical and residential uses (CC‑2).
- Includes a 4,770 sq ft commercial medical office building.
- Features a separate 6,098 sq ft surface parking lot.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $143.1k | $30.00 |
| − Vacancy | −$11.4k | −$2.40 |
| EGI | $131.7k | $27.60 |
| − OpEx | −$52.7k | −$11.04 |
| NOI | $79.0k | $16.56 |
4,770 SF · lease $30.00/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.13M
$987.4K – $1.32M
NOI $78,991 @ 7.0% cap · market cap 3.16%
Second Best
Office B
$913.6K
$799.4K – $1.07M
NOI $63,949 @ 7.0% cap · market cap 2.56%
Theoretical Best
Multifamily LT 5
$1.56M
$1.37M – $1.82M
NOI $109,318 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bay Sleep Clinic
Medical Clinic
Amy Mosley
Alternative Medicine Practice
John R. Edwards, ...
Marriage Or Relationship Counselor
My Oasis for Healing
Alternative Medicine Practice
Abby Schkloven, LMT
Alternative Medicine Practice
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FAQs
What type of property is this?
Medical Office Space - Medical office building with parking lot, development potential in Oakland.
Where is this medical office space located?
The property is located at 2939 Summit Street Oakland, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Zoning allows for both medical and residential uses (CC‑2).; Includes a **4,770 sq ft commercial medical office building**.; Features a separate 6,098 sq ft surface parking lot.
