Two-Story Mixed-Use
For Sale
$1,060,000
635 14Th St, San Leandro, CA 94577
Two-story mixed-use property with ground-floor restaurant space and three second-floor office suites, two currently leased.
Property Size3,470 SF
Lot Size0.05 Acres
Price / SF$305.48
Days on Market38
Property Features for 635 14Th St
General Information
Standard status
Active
Size
3,470 SF
Lot size
0.05 Acres
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Office Units
3
Taxes and HOA fees
Annual Taxes
$3,641
Amenities
3
Tar Gravel
6 Parking Spaces.
Building Details
Year Built
1946
Stories
2
Listing Agency:
(925) 830-8888
Listed By:
Notable Real Estate
Source:
Xome
Added: Jul 11
Changed: Aug 8
Last Checked: Aug 17 at 3:47AM
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 Notable Real Estate
Investment Insights
Based on property information with market context.
This two-story mixed-use building offers approximately 3,470 square feet on a 0.0545-acre lot. The ground floor features restaurant space, while the second floor is divided into three office suites. Two of the second-floor suites are currently leased, and one suite is vacant.
The property is located in Downtown San Leandro on the westerly side of E. 14th. It is about 1.25 miles west of Interstate 580 and about 1.25 miles from East of Interstate 880, placing it within reach of nearby city offices and both professional and retail services.
As currently configured, the building provides immediate rental income from the leased office suites alongside additional space available for occupancy on the second floor.
The property is located in Downtown San Leandro on the westerly side of E. 14th. It is about 1.25 miles west of Interstate 580 and about 1.25 miles from East of Interstate 880, placing it within reach of nearby city offices and both professional and retail services.
As currently configured, the building provides immediate rental income from the leased office suites alongside additional space available for occupancy on the second floor.
Key Highlights
- 3,470 SF two‑story mixed‑use building on 0.0545 acre in Downtown San Leandro
- Ground‑floor restaurant space plus 3 second‑floor office suites (2 leased, 1 vacant)
- Immediate rental income with lease upside based on the current lease status
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
$70,126
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
6.62%
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%
$1,402,520
$1.4M
Cap Rate 7%
$1,001,800
$1.0M
Cap Rate 9%
$779,178
$779.2K
Market Conditions
NOI Build-Up for 3,470 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
$125.3K $36.12/SF
− Vacancy
−$31.8K −$9.17/SF
EGI
$93.5K $26.95/SF
− OpEx
−$23.4K −$6.74/SF
NOI
$70.1K $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%
$1,402,520
Cap Rate 7%
$1,001,800
Cap Rate 9%
$779,178
Alternative Uses
Best Use
Office B
$1.00M
$876.6K – $1.17M
NOI $70,126 @ 7.0% cap · market cap 6.62%
Second Best
Specialty Retail
$912.8K
$798.7K – $1.06M
NOI $63,897 @ 7.0% cap · market cap 6.03%
Theoretical Best
Retail
$15.82M
$13.84M – $18.46M
NOI $1,107,369 @ 7.0% cap · market cap 104.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,817
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94577, CA
48,868
Population
17,681
Households
2.8
Avg Household Size
41
Median Age
39%
College-Educated
86%
High-School Grad
8.1 sq mi
ZIP Area
6,033
Density / Sq Mi
$110,989
Median Household Income
$56,382
Median Earnings
$2,199
Median Rent
$824,900
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?
Conventional restaurant - Two-story mixed-use property with ground-floor restaurant space and three second-floor office suites, two currently leased.
Where is this conventional restaurant located?
The property is located at 635 14Th St San Leandro, CA.
What is the asking price?
The asking price for this property is $1,060,000.
What are key features of this property?
This property features: 3,470 SF two‑story mixed‑use building on 0.0545 acre in Downtown San Leandro; Ground‑floor restaurant space plus 3 second‑floor office suites (2 leased, 1 vacant); Immediate rental income with lease upside based on the current lease status
