Flex Space with Rear
New
For Sale
$998,000
2968 Macarthur Blvd, Oakland, CA 94602
Open-span commercial building with flexible layout, substantial ceiling height, gated parking, and a two-story rear mezzanine.
Property Size3,100 SF
Lot Size0.20 Acres
Price / SF$315.62
Days on Market3
Property Features for 2968 Macarthur Blvd
General Information
Standard status
Active
Size
3,100 SF
Total Parking Spaces
18
Lot size
0.20 Acres
Property subtype
Commercial/Industrial
Additional Details
Fenced Yard
Yes
Clear Span
Yes
Amenities
Fully fenced
security gate
Building Details
Year Built
1948
Buildings
1
Building Size
3,100 SF
Listing Agency:
KW Advisors East Bay
(510) 775-1079
Listed By:
Gaylen Roberts · License #01885597
(510) 761-9536
Source:
Exitrealty
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 4 at 6:19AM
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 KW Advisors East Bay
Investment Insights
Based on property information with market context.
This flex space includes a 3100+ sqft building on an 8600+ sqft flat lot. The interior features a wide-open span, 16+' ceilings, and a two-story rear mezzanine, supporting a range of commercial layouts. Recent improvements include the roof, skylights, dual-pane storefront windows, and storefront doors. The property is fully fenced with a security gate and parking for 18+ cars.
Located at 2968 Macarthur Blvd in Oakland, the property sits between the Dimond and Laurel districts. BART is approximately 12 mins away by car, with parks and other Oakland destinations also within reach. The source information identifies potential applications including restaurant, live/work, studio, office, business, subdivision, and reconfiguration uses.
Located at 2968 Macarthur Blvd in Oakland, the property sits between the Dimond and Laurel districts. BART is approximately 12 mins away by car, with parks and other Oakland destinations also within reach. The source information identifies potential applications including restaurant, live/work, studio, office, business, subdivision, and reconfiguration uses.
Key Highlights
- 3100+ sqft building on an 8600+ sqft flat lot
- Wide‑open span with 16+' ceilings
- Two‑story rear mezzanine
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
$44,394
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
4.45%
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%
$887,880
$887.9K
Cap Rate 7%
$634,200
$634.2K
Cap Rate 9%
$493,267
$493.3K
Market Conditions
NOI Build-Up for 3,162 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
$75.9K $24.00/SF
− Vacancy
−$7.6K −$2.40/SF
EGI
$68.3K $21.60/SF
− OpEx
−$23.9K −$7.56/SF
NOI
$44.4K $14.04/SF
Area
Oakland, CA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
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%
$887,880
Cap Rate 7%
$634,200
Cap Rate 9%
$493,267
Alternative Uses
Best Use
Flex RnD
$634.2K
$554.9K – $739.9K
NOI $44,394 @ 7.0% cap · market cap 4.45%
Second Best
Office B
$605.6K
$529.9K – $706.5K
NOI $42,391 @ 7.0% cap · market cap 4.25%
Theoretical Best
Multifamily LT 5
$1.04M
$905.8K – $1.21M
NOI $72,466 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94602, CA
29,702
Population
13,072
Households
2.3
Avg Household Size
42
Median Age
58%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
8,251
Density / Sq Mi
$124,744
Median Household Income
$65,401
Median Earnings
$1,924
Median Rent
$1,111,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Open-span commercial building with flexible layout, substantial ceiling height, gated parking, and a two-story rear mezzanine.
Where is this flex space located?
The property is located at 2968 Macarthur Blvd Oakland, CA.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: 3100+ sqft building on an 8600+ sqft flat lot; Wide‑open span with 16+' ceilings; Two‑story rear mezzanine
