Medical Office
For Sale
Contact for pricing
3160 Garrity Way, Richmond, CA 94806
CR zoning and immediate post-closing occupancy support an owner-user strategy.
Property Size5,950 SF
Price / SF$239.50
Days on Market117
Property Features for 3160 Garrity Way
General Information
Standard status
Active
Size
5,950 SF
Total Parking Spaces
26
Property subtype
Office
Zoning
CR (Regional Commercial)
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Stories
1
Units
26
Listing Agency:
HL Commercial Real Estate
(415) 454-2030
Listed By:
Joe Morrison · License #02067309
Source:
Crexi
Added: May 6
Changed: Aug 29
Last Checked: Aug 29 at 6:56PM
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 HL Commercial Real Estate
Investment Insights
Based on property information with market context.
This 5,950-square-foot medical office property at 3160 Garrity Way offers an owner-user configuration within Richmond’s Hilltop area. The asset is zoned CR (Regional Commercial), and occupancy can begin immediately after closing, subject to the transaction timeline.
The property sits along an established East Bay commercial corridor near the former Hilltop Mall site, where a large mixed-use redevelopment is planned. Interstate 80, Richmond Parkway, and San Pablo Avenue provide access across the East Bay and into the broader San Francisco Bay Area. Nearby retail, service businesses, and residential neighborhoods contribute to an established surrounding commercial setting.
The property sits along an established East Bay commercial corridor near the former Hilltop Mall site, where a large mixed-use redevelopment is planned. Interstate 80, Richmond Parkway, and San Pablo Avenue provide access across the East Bay and into the broader San Francisco Bay Area. Nearby retail, service businesses, and residential neighborhoods contribute to an established surrounding commercial setting.
Key Highlights
- 5,950‑square‑foot medical office property
- CR (Regional Commercial) zoning
- Immediate occupancy available after closing
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
$73,779
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
5.18%
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%
$1,475,580
$1.5M
Cap Rate 7%
$1,053,986
$1.1M
Cap Rate 9%
$819,767
$819.8K
Market Conditions
NOI Build-Up for 5,950 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
$117.8K $19.80/SF
− Vacancy
−$19.4K −$3.27/SF
EGI
$98.4K $16.53/SF
− OpEx
−$24.6K −$4.13/SF
NOI
$73.8K $12.40/SF
Area
Richmond, CA
Vacancy
16.50%
Lease Rate
$19.80 /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%
$1,475,580
Cap Rate 7%
$1,053,986
Cap Rate 9%
$819,767
Alternative Uses
Best Use
Office B
$1.05M
$922.2K – $1.23M
NOI $73,779 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.42M
$1.24M – $1.66M
NOI $99,500 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
Explore this area
Business Placement
Demographics for 94806, CA
64,589
Population
21,360
Households
3
Avg Household Size
36
Median Age
23%
College-Educated
79%
High-School Grad
7.9 sq mi
ZIP Area
8,176
Density / Sq Mi
$82,818
Median Household Income
$43,355
Median Earnings
$2,013
Median Rent
$582,000
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?
Office building - CR zoning and immediate post-closing occupancy support an owner-user strategy.
Where is this office building located?
The property is located at 3160 Garrity Way Richmond, CA.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: 5,950‑square‑foot medical office property; CR (Regional Commercial) zoning; Immediate occupancy available after closing
