Pleasanton Flex Condo
For Sale
Contact for pricing
400-444 Preston Ct, Livermore, CA 94550
1,020 SF flex condo with grade-level door and office.
Property Size1,230 SF
Price / SF$399
Days on Market83
Property Features for 400-444 Preston Ct
General Information
Standard status
Active
Size
1,230 SF
Property subtype
Industrial
Building Details
Year Built
2000
Buildings
1
Listing Agency:
Colliers - San Francisco - Pleasanton, California
Listed By:
George Wineinger · License #CA 00878573
Source:
Crexi
Added: May 20
Changed: Aug 8
Last Checked: Aug 8 at 3:14PM
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 Colliers - San Francisco - Pleasanton, California
Investment Insights
Based on property information with market context.
This is a 1,020 square foot flex condominium unit located within a condominium project at 404-446 Preston Court in Pleasanton. Constructed in 1989, the building features concrete tilt-up construction. The unit includes one grade-level door and a 16-foot clear height, with 25% of the space designated as office area. The property provides a parking ratio of 0.55 spaces per 1,000 square feet. The unit is in average condition and benefits from its proximity to similar properties, restaurants, public transportation options, and parks. All public utilities are available at the site.
Key Highlights
- Flexible 1,020 SF condominium unit suitable for various business needs.
- Convenient location near restaurants, public transportation, and parks.
- Features a grade‑level door for easy access.
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
$18,769
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
3.82%
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%
$375,380
$375.4K
Cap Rate 7%
$268,129
$268.1K
Cap Rate 9%
$208,544
$208.5K
Market Conditions
NOI Build-Up for 1,230 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
$23.6K $19.20/SF
− Vacancy
−$1.5K −$1.25/SF
EGI
$22.1K $17.95/SF
− OpEx
−$3.3K −$2.69/SF
NOI
$18.8K $15.26/SF
Area
Alameda County, CA
Vacancy
6.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
15.00%
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%
$375,380
Cap Rate 7%
$268,129
Cap Rate 9%
$208,544
Alternative Uses
Best Use
Warehouse
$268.1K
$234.6K – $312.8K
NOI $18,769 @ 7.0% cap · market cap 3.82%
Second Best
Flex RnD
$246.7K
$215.9K – $287.8K
NOI $17,269 @ 7.0% cap · market cap 3.52%
Theoretical Best
Retail
$5.61M
$4.91M – $6.54M
NOI $392,526 @ 7.0% cap · market cap 79.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94550, CA
49,959
Population
18,390
Households
2.7
Avg Household Size
42
Median Age
56%
College-Educated
96%
High-School Grad
272.0 sq mi
ZIP Area
184
Density / Sq Mi
$177,218
Median Household Income
$88,646
Median Earnings
$2,681
Median Rent
$1,146,700
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?
Flex space - 1,020 SF flex condo with grade-level door and office.
Where is this flex space located?
The property is located at 400-444 Preston Ct Livermore, CA.
What is the asking price?
The asking price for this property is $490,770.
What are key features of this property?
This property features: Flexible 1,020 SF condominium unit suitable for various business needs.; Convenient location near restaurants, public transportation, and parks.; Features a grade‑level door for easy access.
