Medical/Dental Office with Water
For Sale
Contact for pricing
300-308 Military W, Benicia, CA
845 SF medical/dental office with water views for sale.
Property Size845 SF
Lot Size0.30 Acres
Price / SF$639.05
Days on Market1104
Property Features for 300-308 Military W
General Information
Standard status
Active
Size
845 SF
Lot size
0.30 Acres
Property subtype
OFFICE
Listing Agency:
TRI Commercial | Walnut Creek
(925) 296-3300
Listed By:
Matt Hatfield · License #01937755
(925) 383-2379
Source:
Moodyscre
Added: Sep 6, 2023
Changed: Aug 23
Last Checked: Sep 12 at 7:01AM
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 845 square foot condo unit, available January 1, 2023, is currently configured as a dental office, featuring three private offices and a large open area. The property includes extensive plumbing throughout, an X-ray room, and storage/lab space. It benefits from ample parking and a serene setting. The property has a 360-degree walk-around balcony and offers water views with a panoramic horizon view. The property consists of two legal units (APNs: 0087-612-010, 0087-612-020) out of a four-unit complex; the condos can be purchased separately.
Key Highlights
- Panoramic horizon water views
- Two legal units in a 4‑unit complex (can be purchased separately)
- Enjoy the 360° walk‑around balcony
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
$15,247
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
2.82%
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%
$304,940
$304.9K
Cap Rate 7%
$217,814
$217.8K
Cap Rate 9%
$169,411
$169.4K
Market Conditions
NOI Build-Up for 845 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
$28.4K $33.60/SF
− Vacancy
−$3.0K −$3.53/SF
EGI
$25.4K $30.07/SF
− OpEx
−$10.2K −$12.03/SF
NOI
$15.2K $18.04/SF
Area
Solano County, CA
Vacancy
10.50%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$304,940
Cap Rate 7%
$217,814
Cap Rate 9%
$169,411
Alternative Uses
Best Use
Healthcare Medical
$217.8K
$190.6K – $254.1K
NOI $15,247 @ 7.0% cap · market cap 2.82%
Second Best
Office B
$202.0K
$176.7K – $235.6K
NOI $14,138 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$282.0K
$246.7K – $329.0K
NOI $19,738 @ 7.0% cap · market cap 3.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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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 - 845 SF medical/dental office with water views for sale.
Where is this medical office space located?
The property is located at 300-308 Military W Benicia, CA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Panoramic horizon water views; Two legal units in a 4‑unit complex (can be purchased separately); Enjoy the 360° walk‑around balcony
