Mixed-Use Property with
For Sale
$595,000
3617 San Leandro St, Oakland, CA 94601
Income-producing building combines residential units, retail space, and a separately metered warehouse near Oakland destinations and transit.
Property Size3,187 SF
Lot Size0.13 Acres
Price / SF$186.70
Days on Market586
Property Features for 3617 San Leandro St
General Information
Standard status
Active
Size
3,187 SF
Lot size
0.13 Acres
Property subtype
Residential Income
Financials
Cap Rate
8.93%
Gross Rent Multiplier
8.3
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x studio
Multifamily Units
2
Additional Details
Warehouse Space
2,000 SF
Building Details
Year Built
1933
Listing Agency:
The Pinza Group, Inc
(510) 822-1331
Listed By:
David Howarth · License #01360348
(510) 822-1331
Source:
Exprealty
Added: Jan 1, 2025
Changed: Aug 10
Last Checked: Aug 10 at 9:03AM
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 The Pinza Group, Inc
Investment Insights
Based on property information with market context.
This mixed-use property contains approximately 3,187 square feet of rental space on a 5,500-square-foot lot. The configuration includes a two-bedroom, one-bathroom residence, a studio, a retail unit, and a 2,000-square-foot warehouse. The building dates to 1933 and has separate PG&E metering. At closing, the retail, warehouse, and studio components are scheduled to be vacant, while the two-bedroom unit remains part of the existing mix.
The property is located on San Leandro Street near Downtown Oakland, Lake Merritt, BART, Fruitvale Public Market, restaurants, and shopping. Highway 880 provides regional access. Current reported performance includes an 8.93% cap rate and an 8.3 GRM.
The property is located on San Leandro Street near Downtown Oakland, Lake Merritt, BART, Fruitvale Public Market, restaurants, and shopping. Highway 880 provides regional access. Current reported performance includes an 8.93% cap rate and an 8.3 GRM.
Key Highlights
- Approximately 3,187 SF of rental space on a 5,500‑square‑foot lot
- Unit mix includes one 2bd/1bth unit, one studio, one retail unit, and a 2,000‑square‑foot warehouse
- Retail unit, warehouse, and studio delivered vacant at 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
$52,002
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
8.74%
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%
$1,040,040
$1.0M
Cap Rate 7%
$742,886
$742.9K
Cap Rate 9%
$577,800
$577.8K
Market Conditions
NOI Build-Up for 3,187 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
$80.3K $25.20/SF
− Vacancy
−$6.0K −$1.89/SF
EGI
$74.3K $23.31/SF
− OpEx
−$22.3K −$6.99/SF
NOI
$52.0K $16.32/SF
Area
ZIP 94601
Vacancy
7.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,040,040
Cap Rate 7%
$742,886
Cap Rate 9%
$577,800
Alternative Uses
Best Use
Apartment 5plus
$969.4K
$848.2K – $1.13M
NOI $67,857 @ 7.0% cap · market cap 11.40%
Second Best
Mixed Use
$785.4K
$687.2K – $916.3K
NOI $54,976 @ 7.0% cap · market cap 9.24%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $90,934 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,240
Businesses Nearby
Explore this area
Business Placement
Demographics for 94601, CA
54,166
Population
17,454
Households
3.1
Avg Household Size
35
Median Age
24%
College-Educated
70%
High-School Grad
3.2 sq mi
ZIP Area
16,927
Density / Sq Mi
$66,651
Median Household Income
$37,765
Median Earnings
$1,651
Median Rent
$703,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing building combines residential units, retail space, and a separately metered warehouse near Oakland destinations and transit.
Where is this mixed-use property located?
The property is located at 3617 San Leandro St Oakland, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Approximately 3,187 SF of rental space on a 5,500‑square‑foot lot; Unit mix includes one 2bd/1bth unit, one studio, one retail unit, and a 2,000‑square‑foot warehouse; Retail unit, warehouse, and studio delivered vacant at closing
