Freestanding Grocery Store with NNN
New
For Sale
$6,073,000
301 E 18th Street, Oakland, CA 94606
The tenant holds four five-year extension options and scheduled rent increases during the lease term.
Property Size14,550 SF
Price / SF$417.39
Days on Market2
Property Features for 301 E 18th Street
General Information
Standard status
Active
Size
14,550 SF
Property subtype
Retail
Zoning
CN-2: Neighborhood Center
Building Details
Building Size
14,550 SF
Year Built
2010
Tenancy
Single
Listing Agency:
SRS Industrial - Newport Beach
Listed By:
Matthew Mousavi · License #CA 01732226
(714) 404-8849
Source:
Srsre
Added: Sep 24
Last Checked: Sep 24 at 3:15PM
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 SRS Industrial - Newport Beach
Investment Insights
Based on property information with market context.
This freestanding Grocery Outlet property contains 14,550 square feet and is zoned CN-2: Neighborhood Center. Grocery Outlet Inc. is the tenant under a new 10-year NNN lease backed by a corporate guarantee. The lease includes four five-year renewal options, with rent increasing 10% every five years during the initial term and at the start of each option period.
At 301 E. 18th Street in Oakland, the property is less than five miles from Grocery Outlet’s corporate headquarters in Emeryville. The store is expected to open on October 15, 2026.
At 301 E. 18th Street in Oakland, the property is less than five miles from Grocery Outlet’s corporate headquarters in Emeryville. The store is expected to open on October 15, 2026.
Key Highlights
- 14,550 square feet
- New 10‑year NNN lease with corporate guarantee
- Four 5‑year extension options
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
$234,374
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
3.86%
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%
$4,687,480
$4.7M
Cap Rate 7%
$3,348,200
$3.3M
Cap Rate 9%
$2,604,156
$2.6M
Market Conditions
NOI Build-Up for 14,550 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
$331.7K $22.80/SF
− Vacancy
−$19.2K −$1.32/SF
EGI
$312.5K $21.48/SF
− OpEx
−$78.1K −$5.37/SF
NOI
$234.4K $16.11/SF
Area
ZIP 94606
Vacancy
5.80%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$4,687,480
Cap Rate 7%
$3,348,200
Cap Rate 9%
$2,604,156
Alternative Uses
Best Use
Specialty Retail
$3.35M
$2.93M – $3.91M
NOI $234,374 @ 7.0% cap · market cap 3.86%
Second Best
Retail
$2.96M
$2.59M – $3.45M
NOI $207,236 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$6.63M
$5.80M – $7.73M
NOI $463,961 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,629
Businesses Nearby
101k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Groceries 38%
Dining 10%
Hotels & Casinos 4%
Lucky Supermarkets
Groceries
38,160 visits/mo
0.1 miles
Dollar Tree
Shops & Services
18,672 visits/mo
0.1 miles
Chase Bank
Shops & Services
9,729 visits/mo
0.1 miles
Lee's Sandwiches
Dining
9,094 visits/mo
0.3 miles
7-Eleven
Shops & Services
6,956 visits/mo
0.2 miles
Demographics for 94606, CA
40,768
Population
17,457
Households
2.3
Avg Household Size
37
Median Age
40%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
17,725
Density / Sq Mi
$70,769
Median Household Income
$47,558
Median Earnings
$1,775
Median Rent
$747,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Tana Market — 1301 international blvd, oakland, ca 94606
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - The tenant holds four five-year extension options and scheduled rent increases during the lease term.
Where is this grocery and convenience store located?
The property is located at 301 E 18th Street Oakland, CA.
What is the asking price?
The asking price for this property is $6,073,000.
What are key features of this property?
This property features: 14,550 square feet; New 10‑year NNN lease with corporate guarantee; Four 5‑year extension options
