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    West Berkeley Mixed-Use Property Title is generated by Realmo AI

    3012 San Pablo Avenue, Berkeley, CA 94702

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    Claim this Listing
    For Sale
    $1,950,000

    Mixed-use property with commercial and residential units in Berkeley.

    Type:Commercial
    Property size:
    4,709 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $414/SF
    Added:
    Nov 22, 2025
    Days on Market:
    194
    Last Refresh:
    Apr 5 at 8:27 pm

    Property Features for 3012 San Pablo Avenue

    General Information

    Standard status
    Active
    Size
    4,709 SF
    Lot size
    0.11 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1907

    We can help!

    Listing Contact
    JERIES Y TANNOUS

    Listing agent JERIES Y TANNOUS

    Listing office URBAN GROUP REAL ESTATE

    Listing date Nov 22, 2025

    Source Corcoran

    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 URBAN GROUP REAL ESTATE

    HighLights

    • Prime West Berkeley location on high‑traffic San Pablo Ave, near Ashby.
    • Mixed‑use property with 2 commercial spaces and 2 residential units.
    • Delivered vacant 4BD/2BA residential unit (owner‑occupied).
    • Strong rental upside with existing tenants in 2BD/1BA residential unit and commercial spaces (Tip Top Liquor and Pro Designer).
    • High Walk Score (91) and Bike Score (99), close to amenities, freeways, and BART.
    • Redevelopment potential: possible ADU, 2‑story units, or warehouse on vacant lot (buyer to confirm with City of Berkeley Planning Dept).

    Overview

    This West Berkeley mixed-use property features two commercial spaces and two residential units. It is located in a high-traffic location on San Pablo Avenue, one block south of Ashby Avenue. The residential units include a four-bedroom, two-bathroom unit, which is owner-occupied and will be delivered vacant, and a two-bedroom, one-bathroom unit with tenants. The commercial units are leased to Tip Top Liquor and Pro Designer. The property is close to Berkeley Bowl, restaurants, freeways, and BART. The Walk Score is 91, and the Bike Score is 99. There is strong rental upside and possible redevelopment potential. According to the Planning Department, there is potential to build on the vacant lot either a Residential ADU, two-story units, or a warehouse. Buyers are advised to confirm with the City of Berkeley Planning Department. The property is located in an opportunity zone. Across the street and off to the side, over 150 new condos and rental units have recently been built. The property size is 4709 square feet.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $169.5k $36.00
    − Vacancy −$12.7k −$2.70
    EGI $156.8k $33.30
    − OpEx −$47.0k −$9.99
    NOI $109.8k $23.31
    4,709 SF · lease $36.00/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $1.57M
    $1.37M – $1.83M (±1% cap)
    NOI $109,767 @ 7.0% cap · market cap 5.63%
    Second Best
    Apartment 5plus
    $1.34M
    $1.17M – $1.56M (±1% cap)
    NOI $93,596 @ 7.0% cap · market cap 4.80%
    Theoretical Best
    Specialty Retail
    $1.82M
    $1.59M – $2.12M (±1% cap)
    NOI $127,482 @ 7.0% cap · market cap 6.54%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tip Top Liquors (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Berkeley
    County
    Alameda
    State
    California
    Longitude
    -122.287
    Latitude
    37.8515

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with commercial and residential units in Berkeley.
    Where is this mixed-use property located?
    The property is located at 3012 San Pablo Avenue Berkeley, CA.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Prime West Berkeley location on high‑traffic San Pablo Ave, near Ashby.; Mixed‑use property with 2 commercial spaces and 2 residential units.; Delivered vacant **4BD/2BA residential unit** (owner‑occupied).
    (415) 863-1775
    We can help!
    Listing Contact
    JERIES Y TANNOUS
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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