Neighborhood Shopping Center with Retail
5859 Foothill Blvd, Oakland, CA 94605
For Sale
New
$4,750,000
A multi-tenant center combines daily-needs businesses with a substantial space available for lease or owner occupancy.
Property Size26,950 SF
Lot Size1.69 Acres
Price / SF$176.25
Days on Market4
Property Features for 5859 Foothill Blvd
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Corner Location
Additional Details
Tenant in Place
Amenities
EV charging stations
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
CP Partners
Listed By:
Rachel Kram · License #CalDRE #02021048
(415) 515-0181
Source:
Cppcre
Added: Nov 4
Last Checked: Nov 6 at 5:49AM
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 CP Partners
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Investment Insights
Based on property information with market context.
Built in 2018, Seminary Point is a neighborhood shopping center comprising approximately 26,950 square feet on 1.69 acres. The tenant mix includes It’s A Grind/Pizza Factory, Metro by T-Mobile, Taj Alyemen, Mother’s Choice Nutrition and Total Wireless, along with a Bank of America ATM and an Oakland Police Department substation. A 14,250-square-foot former Walgreens space is available for lease or owner/user occupancy. The property has 72 parking stalls and four EV charging stations, with CN-3 zoning.
The center occupies the signalized intersection of Foothill Boulevard and Seminary Avenue in Oakland. Frontage measures approximately 401 feet on Foothill Boulevard, 289 feet on Seminary Avenue and 170 feet on Bancroft Avenue. The property is offered as a leasehold interest under a ground lease with the City of Oakland that runs through December 2082. Two land-purchase options are included. The City has indicated it will consider proposals to acquire the land or restructure the lease, subject to City Council approval.
The center occupies the signalized intersection of Foothill Boulevard and Seminary Avenue in Oakland. Frontage measures approximately 401 feet on Foothill Boulevard, 289 feet on Seminary Avenue and 170 feet on Bancroft Avenue. The property is offered as a leasehold interest under a ground lease with the City of Oakland that runs through December 2082. Two land-purchase options are included. The City has indicated it will consider proposals to acquire the land or restructure the lease, subject to City Council approval.
Key Highlights
- Approximately 26,950 SF center on 1.69 acres, built in 2018
- 14,250 SF former Walgreens space available for lease or owner/user occupancy
- Ground lease with the City of Oakland runs through December 2082; includes two options to purchase the land
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$376,923
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,538,460
$7.5M
Cap Rate 7%
$5,384,614
$5.4M
Cap Rate 9%
$4,188,033
$4.2M
Market Conditions
NOI Build-Up for 26,950 SF
Gross rent
$582.1K $21.60/SF
− Vacancy
−$43.7K −$1.62/SF
EGI
$538.5K $19.98/SF
− OpEx
−$161.5K −$5.99/SF
NOI
$376.9K $13.99/SF
Area
ZIP 94605
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,538,460
Cap Rate 7%
$5,384,614
Cap Rate 9%
$4,188,033
Alternative Uses
Best Use
Retail
$5.38M
$4.71M – $6.28M
NOI $376,923 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$7.79M
$6.82M – $9.09M
NOI $545,519 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
4k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Valero Energy
Shops & Services
4,438 visits/mo
0.5 miles
Demographics for 94605, CA
44,294
Population
17,686
Households
2.5
Avg Household Size
39
Median Age
43%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
5,033
Density / Sq Mi
$101,043
Median Household Income
$62,590
Median Earnings
$1,867
Median Rent
$840,700
Median Home Value
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Market
Properties on Market for Shopping centers in Alameda County
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Knockout Violence — 6690 Bancroft Ave, Oakland, CA 94605
- Seminary Point — 5835 Foothill Blvd, Oakland, CA 94605
Frequently Asked Questions
What type of property is this?
Shopping center - A multi-tenant center combines daily-needs businesses with a substantial space available for lease or owner occupancy.
Where is this shopping center located?
The property is located at 5859 Foothill Blvd Oakland, CA.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Approximately 26,950 SF center on 1.69 acres, built in 2018; 14,250 SF former Walgreens space available for lease or owner/user occupancy; Ground lease with the City of Oakland runs through December 2082; includes two options to purchase the land
