Office Condo
For Sale
$88,000
324 10th St #203, Oakland, CA 94607
Compact commercial office condo offers flexible use within a 1920 building in Oakland’s Lake Merritt Station District.
Property Size300 SF
Price / SF$293.33
Days on Market111
Property Features for 324 10th St #203
General Information
Standard status
Active
Size
300 SF
Property subtype
OFC
Building Details
Year Built
1920
Listing Agency:
KW Commercial Oakland
Listed By:
Aziz Khatri · License #02029039
(510) 368-8347
Source:
Realnex
Added: May 18
Changed: Jul 10
Last Checked: Jun 5 at 2:29AM
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 KW Commercial Oakland
Investment Insights
Based on property information with market context.
This offering is a commercially zoned office condo unit configured as a compact suite of approximately 300 square feet. It is located within a building constructed in 1920 and is presented for a range of commercial office uses consistent with the property’s zoning. The unit is identified as Suite 203 at 324 Tenth Street.
The property is situated in Oakland, California, within the Lake Merritt Station District. The location in a well-defined district can support tenants seeking an Oakland address and proximity to the station area.
For buyers or operators looking for a smaller, dedicated office space, this condo format can be an efficient option. The layout is sized for day-to-day office use, and the combination of commercial zoning and an existing suite configuration provides a straightforward path for professional office occupants interested in operating from Suite 203.
The property is situated in Oakland, California, within the Lake Merritt Station District. The location in a well-defined district can support tenants seeking an Oakland address and proximity to the station area.
For buyers or operators looking for a smaller, dedicated office space, this condo format can be an efficient option. The layout is sized for day-to-day office use, and the combination of commercial zoning and an existing suite configuration provides a straightforward path for professional office occupants interested in operating from Suite 203.
Key Highlights
- Commercially zoned office condo unit at 324 Tenth Street, Suite 203, Oakland, CA
- 300 SF unit within a building built in 1920
- Located in Oakland’s Lake Merritt Station District
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
$4,022
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
4.57%
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%
$80,440
$80.4K
Cap Rate 7%
$57,457
$57.5K
Cap Rate 9%
$44,689
$44.7K
Market Conditions
NOI Build-Up for 300 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
$7.1K $23.52/SF
− Vacancy
−$1.7K −$5.64/SF
EGI
$5.4K $17.88/SF
− OpEx
−$1.3K −$4.47/SF
NOI
$4.0K $13.41/SF
Area
Oakland, CA
Vacancy
24.00%
Lease Rate
$23.52 /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%
$80,440
Cap Rate 7%
$57,457
Cap Rate 9%
$44,689
Alternative Uses
Best Use
Office B
$57.5K
$50.3K – $67.0K
NOI $4,022 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$98.2K
$85.9K – $114.6K
NOI $6,875 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 94607, CA
31,067
Population
14,362
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
5,266
Density / Sq Mi
$87,937
Median Household Income
$67,107
Median Earnings
$1,875
Median Rent
$744,600
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 units - Compact commercial office condo offers flexible use within a 1920 building in Oakland’s Lake Merritt Station District.
Where is this office units located?
The property is located at 324 10th St #203 Oakland, CA.
What is the asking price?
The asking price for this property is $88,000.
What are key features of this property?
This property features: Commercially zoned office condo unit at 324 Tenth Street, Suite 203, Oakland, CA; 300 SF unit within a building built in 1920; Located in Oakland’s Lake Merritt Station District
