Corner Flex
For Sale
$1,075,000
405 Boulder Ct Unit 100, Pleasanton, CA 94566
Fully built-out commercial suite with private offices, collaborative space, storage, kitchenette, and two restrooms.
Property Size2,300 SF
Price / SF$467.39
Days on Market60
Property Features for 405 Boulder Ct Unit 100
General Information
Standard status
Active
Size
2,300 SF
Zoning
B
Building Details
Building Size
2,300 SF
Year Built
2009
Listing Agency:
(408) 582-3202
Listed By:
Ruhi Alikhan
Source:
Evrealestate
Added: Jul 2
Changed: Aug 29
Last Checked: Jul 14 at 2:41AM
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 Ruhi Alikhan
Investment Insights
Based on property information with market context.
This corner-unit flex condominium is located within a Class B building constructed in 2009. The fully built-out interior includes a reception and waiting area, two private offices, an open collaborative workspace, designated storage, a kitchenette, and two private restrooms. Corner exposure and abundant natural light add to the functional workplace layout, while the existing improvements support immediate occupancy.
The property is at 405 Boulder Ct Unit 100 in Pleasanton, California, with convenient freeway access for employees and visitors. The location records a bike score of 73, a walk score of 56, and a transit score of 33. The configuration provides a combination of private rooms, open work area, support space, and client-facing entry areas within one commercial condominium unit.
The property is at 405 Boulder Ct Unit 100 in Pleasanton, California, with convenient freeway access for employees and visitors. The location records a bike score of 73, a walk score of 56, and a transit score of 33. The configuration provides a combination of private rooms, open work area, support space, and client-facing entry areas within one commercial condominium unit.
Key Highlights
- Corner unit in a Class B flex/R&D condominium building
- Fully built‑out interior with immediate occupancy
- Two private offices plus an open collaborative workspace
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
$46,481
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
4.32%
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%
$929,620
$929.6K
Cap Rate 7%
$664,014
$664.0K
Cap Rate 9%
$516,456
$516.5K
Market Conditions
NOI Build-Up for 2,300 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
$83.1K $36.12/SF
− Vacancy
−$21.1K −$9.17/SF
EGI
$62.0K $26.95/SF
− OpEx
−$15.5K −$6.74/SF
NOI
$46.5K $20.21/SF
Area
Alameda County, CA
Vacancy
25.40%
Lease Rate
$36.12 /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%
$929,620
Cap Rate 7%
$664,014
Cap Rate 9%
$516,456
Alternative Uses
Best Use
Office B
$664.0K
$581.0K – $774.7K
NOI $46,481 @ 7.0% cap · market cap 4.32%
Second Best
Healthcare Medical
$562.8K
$492.5K – $656.6K
NOI $39,396 @ 7.0% cap · market cap 3.66%
Theoretical Best
Retail
$10.49M
$9.17M – $12.23M
NOI $733,991 @ 7.0% cap · market cap 68.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
979
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94566, CA
45,055
Population
16,698
Households
2.7
Avg Household Size
43
Median Age
67%
College-Educated
95%
High-School Grad
20.3 sq mi
ZIP Area
2,219
Density / Sq Mi
$187,721
Median Household Income
$104,642
Median Earnings
$2,639
Median Rent
$1,592,200
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?
Flex space - Fully built-out commercial suite with private offices, collaborative space, storage, kitchenette, and two restrooms.
Where is this flex space located?
The property is located at 405 Boulder Ct Unit 100 Pleasanton, CA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Corner unit in a Class B flex/R&D condominium building; Fully built‑out interior with immediate occupancy; Two private offices plus an open collaborative workspace
