Flex Warehouse for
For Sale
$905,000
296 Albion Ave, San Lorenzo, CA 94580
3,500 SF flex warehouse featuring roll-up door and open office.
Property Size3,500 SF
Price / SF$258.57
Days on Market273
Property Features for 296 Albion Ave
General Information
Standard status
Active
Size
3,500 SF
Class
C
Property subtype
Industrial
Building Details
Building Size
3,500 SF
Year Built
1931
Listing Agency:
TRI Commercial | Walnut Creek
(925) 296-3319
Listed By:
Dick Sullivan · License #CalDRE #00969620
Source:
Tricommercial
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 21 at 4:19AM
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 TRI Commercial | Walnut Creek
Investment Insights
Based on property information with market context.
This is a 3,500 square foot flex warehouse available for sale. The warehouse includes a roll-up door, unfinished wood floors, multiple storage rooms, two bathrooms, and a break room. It features large, open office areas and a small side yard. The property has 600 amps of power; the buyer is advised to confirm this. The property is zoned ACBD-R3.
Key Highlights
- ±3,500 SF Flex Warehouse
- Warehouse with roll up door
- 600 amps power, buyer to confirm
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
$53,407
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
5.90%
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%
$1,068,140
$1.1M
Cap Rate 7%
$762,957
$763.0K
Cap Rate 9%
$593,411
$593.4K
Market Conditions
NOI Build-Up for 3,500 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
$67.2K $19.20/SF
− Vacancy
−$4.4K −$1.25/SF
EGI
$62.8K $17.95/SF
− OpEx
−$9.4K −$2.69/SF
NOI
$53.4K $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%
$1,068,140
Cap Rate 7%
$762,957
Cap Rate 9%
$593,411
Alternative Uses
Best Use
Warehouse
$763.0K
$667.6K – $890.1K
NOI $53,407 @ 7.0% cap · market cap 5.90%
Second Best
Flex RnD
$702.0K
$614.3K – $819.0K
NOI $49,140 @ 7.0% cap · market cap 5.43%
Theoretical Best
Retail
$15.96M
$13.96M – $18.62M
NOI $1,116,943 @ 7.0% cap · market cap 123.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94580, CA
29,590
Population
9,067
Households
3.3
Avg Household Size
39
Median Age
26%
College-Educated
83%
High-School Grad
3.3 sq mi
ZIP Area
8,967
Density / Sq Mi
$110,106
Median Household Income
$52,790
Median Earnings
$2,164
Median Rent
$820,100
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 - 3,500 SF flex warehouse featuring roll-up door and open office.
Where is this flex space located?
The property is located at 296 Albion Ave San Lorenzo, CA.
What is the asking price?
The asking price for this property is $905,000.
What are key features of this property?
This property features: ±3,500 SF Flex Warehouse; Warehouse with roll up door; 600 amps power, buyer to confirm
