Multifamily
New
For Sale
$2,188,000
40944 Lincoln St, Fremont, CA 94538
Built in 1981, the property has a wall furnace and includes a dishwasher, disposal, dryer, and gas water heater.
Property Size4,352 SF
Price / SF$502.76
Days on Market4
Property Features for 40944 Lincoln St
General Information
Standard status
Active
Size
4,352 SF
Property subtype
Residential Income
Amenities
Wall Furnace
Dryer, Dishwasher, Disposal, Gas Water Heater
Attached
Building Details
Building Size
4,352 SF
Year Built
1981
Listing Agency:
Coldwell Banker Realty
Listed By:
Joe Schembri · License #00890599
(510) 608-7667
Source:
Evrealestate
Added: Sep 30
Last Checked: Oct 2 at 8:57PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Located at 40944 Lincoln St in Fremont, this multifamily property was built in 1981. Interior features include a wall furnace, dishwasher, disposal, dryer, and gas water heater.
Key Highlights
- 1981 construction
- Interior features include a wall furnace, dishwasher, disposal, dryer, and gas water heater
- Located at 40944 Lincoln St in Fremont, Alameda County
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
$77,710
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
3.55%
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%
$1,554,200
$1.6M
Cap Rate 7%
$1,110,143
$1.1M
Cap Rate 9%
$863,444
$863.4K
Market Conditions
NOI Build-Up for 4,352 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
$147.8K $33.96/SF
− Vacancy
−$6.5K −$1.49/SF
EGI
$141.3K $32.47/SF
− OpEx
−$63.6K −$14.61/SF
NOI
$77.7K $17.86/SF
Area
Fremont, CA
Vacancy
4.40%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,554,200
Cap Rate 7%
$1,110,143
Cap Rate 9%
$863,444
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$971.4K – $1.30M
NOI $77,710 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.69M
$2.36M – $3.14M
NOI $188,570 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,090
Businesses Nearby
Explore this area
Business Placement
Demographics for 94538, CA
66,424
Population
24,429
Households
2.7
Avg Household Size
36
Median Age
53%
College-Educated
90%
High-School Grad
16.5 sq mi
ZIP Area
4,026
Density / Sq Mi
$144,451
Median Household Income
$76,827
Median Earnings
$2,860
Median Rent
$1,104,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1981, the property has a wall furnace and includes a dishwasher, disposal, dryer, and gas water heater.
Where is this multifamily property located?
The property is located at 40944 Lincoln St Fremont, CA.
What is the asking price?
The asking price for this property is $2,188,000.
What are key features of this property?
This property features: 1981 construction; Interior features include a wall furnace, dishwasher, disposal, dryer, and gas water heater; Located at 40944 Lincoln St in Fremont, Alameda County
