Two-Story Medical Office
For Sale
$1,145,000
2944 Webster St, Oakland, CA 94609
Commercial Sale, Oakland, CA
Property Size3,262 SF
Lot Size0.14 Acres
Price / SF$351.01
Days on Market63
Property Features for 2944 Webster St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
D-BV-4
Parking
10
Subdivision
PILL HILL
Lot features
Mid- Block, B A R T Nearby, Freeway Nearby, Hospital Nearby, Public Transport Nearby, Residential Area, Shopping Nearby
Standard status
Active
APN
970114
Size
3,262 SF
Lot size
0.14 Acres
Building Details
Year built
1935
Building materials
Stucco
Roof type
Shingle
Listing Agency:
KW Advisors East Bay · Keller Williams Realty
(510) 775-1079
Listed By:
Nathaniel Reinke
(415) 710-7284
Added: Aug 10
Changed: Oct 8
Last Checked: Oct 11 at 11:06AM
MLS# 41144498
Copyright © 2026 bridgeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story medical office and flex building offers 3,262 square feet on a 6,044-square-foot lot. The wood-frame structure was built in 1935 and has a stucco exterior. Delivered vacant, it includes kitchens on both levels; the upper floor can be arranged as a two-bedroom apartment with a full kitchen and bath. Recent work includes a replacement roof, new electrical subpanels and refinished oak flooring. Zoning is D-BV-4. Residential development of up to 24 units is cited as a possibility, subject to verification with the City.
The property is near the Alta Bates Sutter Cancer Center, Kaiser Oakland and the Broadway-Telegraph corridor. MacArthur BART is approximately one mile away, with access to I-580, Hwy 24 and I-980. Walk, Transit and Bike Scores are each 80.
The property is near the Alta Bates Sutter Cancer Center, Kaiser Oakland and the Broadway-Telegraph corridor. MacArthur BART is approximately one mile away, with access to I-580, Hwy 24 and I-980. Walk, Transit and Bike Scores are each 80.
Key Highlights
- 3,262 square feet on a 6,044‑square‑foot lot
- Two stories with kitchens on both levels; upper floor can accommodate a two‑bedroom apartment
- D‑BV‑4 zoning; residential development potential up to 24 units, subject to City verification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,019
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,080,380
$1.1M
Cap Rate 7%
$771,700
$771.7K
Cap Rate 9%
$600,211
$600.2K
Market Conditions
NOI Build-Up for 3,262 SF
Gross rent
$97.9K $30.00/SF
− Vacancy
−$7.8K −$2.40/SF
EGI
$90.0K $27.60/SF
− OpEx
−$36.0K −$11.04/SF
NOI
$54.0K $16.56/SF
Area
Oakland, CA
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,080,380
Cap Rate 7%
$771,700
Cap Rate 9%
$600,211
Alternative Uses
Best Use
Healthcare Medical
$771.7K
$675.2K – $900.3K
NOI $54,019 @ 7.0% cap · market cap 4.72%
Second Best
Mixed Use
$707.4K
$619.0K – $825.3K
NOI $49,517 @ 7.0% cap · market cap 4.32%
Theoretical Best
Multifamily LT 5
$1.07M
$934.5K – $1.25M
NOI $74,758 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,849
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94609, CA
23,578
Population
11,915
Households
2
Avg Household Size
36
Median Age
62%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
13,869
Density / Sq Mi
$106,698
Median Household Income
$69,221
Median Earnings
$2,116
Median Rent
$1,147,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant space includes two kitchens and an upper floor that can be arranged as a two-bedroom apartment.
Where is this medical office space located?
The property is located at 2944 Webster St Oakland, CA.
What is the asking price?
The asking price for this property is $1,145,000.
What are key features of this property?
This property features: 3,262 square feet on a 6,044‑square‑foot lot; Two stories with kitchens on both levels; upper floor can accommodate a two‑bedroom apartment; D‑BV‑4 zoning; residential development potential up to 24 units, subject to City verification
