Fully Leased Industrial Building with New
For Sale
Contact for pricing
559 66th Avenue, Oakland, CA 94621
A leased industrial facility with a 2015 roof and a long remaining Sherwin-Williams lease term.
Property Size6,697 SF
Price / SF$372.26
Days on Market59
Property Features for 559 66th Avenue
General Information
Standard status
Active
Size
6,697 SF
Property subtype
Retail, Industrial
Zoning
CIX-2
Occupancy
100%
Investment Type
Net Lease
Net Operating Income
$124,626
Site & Location
Traffic Count
215,000 vehicles/day
Highway Access
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1964
Year Renovated
2015
Buildings
1
Tenancy
Single
Listing Agency:
Cushman & Wakefield San Francisco
Listed By:
Spencer Henderson · License #CA 02028350
Source:
Crexi
Added: Jun 25
Changed: Aug 10
Last Checked: Aug 22 at 11:33AM
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 Cushman & Wakefield San Francisco
Investment Insights
Based on property information with market context.
This fully leased industrial building is occupied by Sherwin-Williams under a 13-year lease with approximately 12.5 years remaining. Originally constructed in 1964, the property includes a roof installed in 2015. The lease structure features 3% annual rental increases throughout the primary term.
The site is located in the East Oakland Airport District’s high-density industrial and logistics hub, positioned directly off the I-880 corridor described as carrying 215,000 VPD. Access is provided from Exit 37 (66th Ave/Zhone Way) off Interstate 880, supporting distribution across the East Bay, including downtown Oakland and San Leandro. The Oakland-Alameda County Coliseum Complex is across the street and currently functions as a major concert venue. Nearby tenants include TireHub, Wheels America, and Public Storage.
For investors seeking an industrial asset tied to an established operator, the property offers a long-term in-place lease with scheduled increases. Its location also supports tenant operations that benefit from strong regional connectivity, with Oakland International Airport (OAK) identified as less than 10 minutes away and the Port of Oakland approximately 20 minutes away.
The site is located in the East Oakland Airport District’s high-density industrial and logistics hub, positioned directly off the I-880 corridor described as carrying 215,000 VPD. Access is provided from Exit 37 (66th Ave/Zhone Way) off Interstate 880, supporting distribution across the East Bay, including downtown Oakland and San Leandro. The Oakland-Alameda County Coliseum Complex is across the street and currently functions as a major concert venue. Nearby tenants include TireHub, Wheels America, and Public Storage.
For investors seeking an industrial asset tied to an established operator, the property offers a long-term in-place lease with scheduled increases. Its location also supports tenant operations that benefit from strong regional connectivity, with Oakland International Airport (OAK) identified as less than 10 minutes away and the Port of Oakland approximately 20 minutes away.
Key Highlights
- 6,697 SF industrial building built in 1964 and fully leased to Sherwin‑Williams
- 13‑year lease with approximately 12.5 years remaining term for long‑term tenant occupancy
- 2015 roof installed on the building
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
$99,489
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
3.99%
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%
$1,989,780
$2.0M
Cap Rate 7%
$1,421,271
$1.4M
Cap Rate 9%
$1,105,433
$1.1M
Market Conditions
NOI Build-Up for 6,697 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
$127.8K $19.08/SF
− Vacancy
−$10.7K −$1.60/SF
EGI
$117.0K $17.48/SF
− OpEx
−$17.6K −$2.62/SF
NOI
$99.5K $14.86/SF
Area
Oakland, CA
Vacancy
8.40%
Lease Rate
$19.08 /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%
$1,989,780
Cap Rate 7%
$1,421,271
Cap Rate 9%
$1,105,433
Alternative Uses
Best Use
Warehouse
$1.42M
$1.24M – $1.66M
NOI $99,489 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.19M
$1.92M – $2.56M
NOI $153,480 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
215,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94621, CA
35,816
Population
11,078
Households
3.2
Avg Household Size
32
Median Age
13%
College-Educated
67%
High-School Grad
8.5 sq mi
ZIP Area
4,214
Density / Sq Mi
$53,106
Median Household Income
$35,199
Median Earnings
$1,527
Median Rent
$537,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 6201 San Leandro St, Oakland, CA 94621
- Public Storage — 680 Hegenberger Rd, Oakland, CA 94621
- Herc Rentals — 7727 Oakport St, Oakland, CA 94621
- McCreas AA Piano Moving Inc. — 715 66th Ave, Oakland, CA 94621
- Extra Space Storage — 6401 San Leandro St, Oakland, CA 94621
Frequently Asked Questions
What type of property is this?
Warehouse - A leased industrial facility with a 2015 roof and a long remaining Sherwin-Williams lease term.
Where is this warehouse located?
The property is located at 559 66th Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $2,493,000.
What are key features of this property?
This property features: 6,697 SF industrial building built in 1964 and fully leased to Sherwin‑Williams; 13‑year lease with approximately 12.5 years remaining term for long‑term tenant occupancy; 2015 roof installed on the building
