Remodeled Office Building For
For Sale
$1,600,000
418 Wilson Ave, Richmond, CA 94805
Owner-occupied, remodeled office building with furniture and move-in readiness.
Property Size4,800 SF
Price / SF$333.33
Days on Market675
Property Features for 418 Wilson Ave
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Commercial
Amenities
Composition Roof
Court
Electric Heating
Guest Parking
Tile Flooring
Listing Agency:
CASA REALTY
(510) 233-4400
Listed By:
JAIME CASAREZ
Source:
Corcoran
Added: Nov 6, 2024
Changed: Sep 7
Last Checked: Sep 12 at 7:37AM
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 CASA REALTY
Investment Insights
Based on property information with market context.
This is an owner-occupied office building that was remodeled in 2004 and is ready for immediate occupancy. The 4,800 square foot property is fully furnished with desks, chairs, a reception desk, and conference tables. Each office is equipped with an internet connection. The building includes five bathrooms, a full kitchen, and ample storage space.
Key Highlights
- Move‑in ready condition after 2004 remodel.
- Fully furnished with desks, chairs, reception desk, and conference tables.
- Internet connection available in each office.
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
$59,519
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
3.72%
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%
$1,190,380
$1.2M
Cap Rate 7%
$850,271
$850.3K
Cap Rate 9%
$661,322
$661.3K
Market Conditions
NOI Build-Up for 4,800 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
$95.0K $19.80/SF
− Vacancy
−$15.7K −$3.27/SF
EGI
$79.4K $16.53/SF
− OpEx
−$19.8K −$4.13/SF
NOI
$59.5K $12.40/SF
Area
Richmond, CA
Vacancy
16.50%
Lease Rate
$19.80 /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%
$1,190,380
Cap Rate 7%
$850,271
Cap Rate 9%
$661,322
Alternative Uses
Best Use
Office B
$850.3K
$744.0K – $992.0K
NOI $59,519 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,269 @ 7.0% cap · market cap 5.02%
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
895
Businesses Nearby
Explore this area
Business Placement
Demographics for 94805, CA
14,958
Population
6,076
Households
2.5
Avg Household Size
41
Median Age
44%
College-Educated
86%
High-School Grad
1.9 sq mi
ZIP Area
7,873
Density / Sq Mi
$114,191
Median Household Income
$57,133
Median Earnings
$2,272
Median Rent
$738,800
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 Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Owner-occupied, remodeled office building with furniture and move-in readiness.
Where is this office building located?
The property is located at 418 Wilson Ave Richmond, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Move‑in ready condition after 2004 remodel.; Fully furnished with desks, chairs, reception desk, and conference tables.; Internet connection available in each office.
