Mixed-Use Property with
For Sale
$2,600,000
3732 Grand Avenue, Oakland, CA 94610
Residential units sit above street-level retail spaces along Grand Avenue near Lake Merritt.
Property Size12,920 SF
Days on Market14
Property Features for 3732 Grand Avenue
General Information
Standard status
Active
Size
12,920 SF
Property subtype
Mixed Use
Occupancy
80%
Financials
Asking Price
$2,600,000
Cap Rate
5.39%
Gross Income
$219,363
Additional Details
Multifamily Units
9
Building Details
Building Size
12,920 SF
Year Built
1952
Tenancy
Multi
Listing Agency:
Compass
(510) 339-6460
Listed By:
Mark R Chow
Source:
Remaxaccord
Added: Aug 18
Changed: Aug 26
Last Checked: Aug 31 at 12:19AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1952, this mixed-use property combines nine residential units with six ground-floor storefronts, creating a vertically integrated residential and commercial configuration. The property contains 15 units in total and is currently 80% occupied, with two residential units and one commercial space vacant for future lease-up.
The building is located on Grand Avenue in Oakland, near Lake Merritt, the Grand Lake Theater, and the Saturday Grand Lake Farmers Market. Its setting places residents and storefronts within an established commercial corridor with access to nearby neighborhood destinations and the I-580 commute route.
The mix of apartments and retail suites provides distinct residential and commercial components within one property. Long-term residential tenancies are also part of the existing occupancy profile, including leases that have been in place for more than a decade.
The building is located on Grand Avenue in Oakland, near Lake Merritt, the Grand Lake Theater, and the Saturday Grand Lake Farmers Market. Its setting places residents and storefronts within an established commercial corridor with access to nearby neighborhood destinations and the I-580 commute route.
The mix of apartments and retail suites provides distinct residential and commercial components within one property. Long-term residential tenancies are also part of the existing occupancy profile, including leases that have been in place for more than a decade.
Key Highlights
- 15‑unit mixed‑use property with 9 residential units and 6 ground‑floor storefronts
- Built in 1952 and currently 80% occupied
- Two vacant residential units and one vacant commercial space
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
$196,126
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
7.54%
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%
$3,922,520
$3.9M
Cap Rate 7%
$2,801,800
$2.8M
Cap Rate 9%
$2,179,178
$2.2M
Market Conditions
NOI Build-Up for 12,920 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
$356.6K $27.60/SF
− Vacancy
−$42.8K −$3.31/SF
EGI
$313.8K $24.29/SF
− OpEx
−$117.7K −$9.11/SF
NOI
$196.1K $15.18/SF
Area
Oakland, CA
Vacancy
12.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
37.50%
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%
$3,922,520
Cap Rate 7%
$2,801,800
Cap Rate 9%
$2,179,178
Alternative Uses
Best Use
Apartment 5plus
$3.90M
$3.41M – $4.55M
NOI $272,806 @ 7.0% cap · market cap 10.49%
Second Best
Retail
$3.58M
$3.13M – $4.18M
NOI $250,509 @ 7.0% cap · market cap 9.63%
Theoretical Best
Multifamily LT 5
$4.23M
$3.70M – $4.93M
NOI $296,097 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
80%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,519
Businesses Nearby
Explore this area
Business Placement
Demographics for 94610, CA
31,261
Population
17,926
Households
1.7
Avg Household Size
39
Median Age
73%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
14,886
Density / Sq Mi
$130,435
Median Household Income
$90,577
Median Earnings
$2,184
Median Rent
$1,324,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential units sit above street-level retail spaces along Grand Avenue near Lake Merritt.
Where is this mixed-use property located?
The property is located at 3732 Grand Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 15‑unit mixed‑use property with 9 residential units and 6 ground‑floor storefronts; Built in 1952 and currently 80% occupied; Two vacant residential units and one vacant commercial space
