Flex Building with Rear
New
For Sale
$998,000
2968 Macarthur Blvd, Oakland, CA 94602
Commercial Sale, Oakland, CA
Property Size3,100 SF
Lot Size0.20 Acres
Price / SF$315.62
Days on Market1
Property Features for 2968 Macarthur Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Unkn
Parking
18
Parking features
Secured, On Street
Security features
Security
Window features
Skylight(s)
Exterior features
Landscaping
Fencing
Fenced
Appliances
Water Heater
Subdivision
DIMOND DISTRICT
Lot features
Business District, Mid- Block, Neighborhood, Residential Area, Shopping Nearby, Warehouse
Standard status
Active
APN
29977383
Size
3,162 SF
Lot size
0.20 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1948
Floors in Building
1
Flooring type
Concrete
Building materials
Stucco, Siding - Stucco
Roof type
Composition
Listing Agency:
KW Advisors East Bay · Keller Williams Realty
(510) 775-1079
Listed By:
Gaylen Roberts · License #01885597
(510) 761-9536
Added: Sep 2
Last Checked: Sep 2 at 6:06PM
MLS# 41146951
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 3,162-square-foot flex building sits on a 0.1994-acre lot and features an open-span interior, 16-plus-foot ceilings, and a two-story rear mezzanine. The property includes a concrete floor, stucco construction, public water and sewer, forced-air heating, and a water heater. Recent improvements include the roof, skylights, and dual-pane storefront windows and doors.
The site is fully fenced with a security gate and parking for 18-plus cars. It is positioned between Oakland’s Dimond and Laurel districts, with a 12-minute drive to BART. The property also offers landscaping, secured parking, and on-street parking.
The site is fully fenced with a security gate and parking for 18-plus cars. It is positioned between Oakland’s Dimond and Laurel districts, with a 12-minute drive to BART. The property also offers landscaping, secured parking, and on-street parking.
Key Highlights
- 3,162‑square‑foot flex building on a 0.1994‑acre lot
- Open‑span interior with 16+ ceilings and a two‑story rear mezzanine
- Parking for 18+ cars with fencing and a security gate
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
$47,999
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
4.81%
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%
$959,980
$960.0K
Cap Rate 7%
$685,700
$685.7K
Cap Rate 9%
$533,322
$533.3K
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
$87.3K $27.60/SF
− Vacancy
−$10.5K −$3.31/SF
EGI
$76.8K $24.29/SF
− OpEx
−$28.8K −$9.11/SF
NOI
$48.0K $15.18/SF
Area
Oakland, CA
Vacancy
12.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
37.50%
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%
$959,980
Cap Rate 7%
$685,700
Cap Rate 9%
$533,322
Alternative Uses
Best Use
Mixed Use
$685.7K
$600.0K – $800.0K
NOI $47,999 @ 7.0% cap · market cap 4.81%
Second Best
Flex RnD
$634.2K
$554.9K – $739.9K
NOI $44,394 @ 7.0% cap · market cap 4.45%
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
16 ft
Clear height
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
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Frequently Asked Questions
What type of property is this?
Flex space - Open-span commercial building with secured parking, fenced grounds, and updated roof and storefront systems.
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: 3,162‑square‑foot flex building on a 0.1994‑acre lot; Open‑span interior with 16+ ceilings and a two‑story rear mezzanine; Parking for 18+ cars with fencing and a security gate
