Turnkey Oakland Entertainment
For Sale
$3,995,000
645 W Grand Ave, Oakland, CA 94612
Fully restored 9,567 SF venue for dining and entertainment.
Property Size9,567 SF
Price / SF$417.58
Days on Market366
Property Features for 645 W Grand Ave
General Information
Standard status
Active
Size
9,567 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1893
Listing Agency:
Red Oak Realty
(510) 527-9111
Listed By:
Negar Souza · License #01701667
(510) 543-7016
Source:
Exitrealty
Added: Sep 8, 2025
Changed: Sep 8
Last Checked: Sep 8 at 6:32AM
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 Red Oak Realty
Investment Insights
Based on property information with market context.
This fully restored 1893 building offers approximately 9,567 square feet of space across three stories, presenting a turnkey destination for dining, nightlife, and live entertainment. Located in Oakland, the property blends historic character with modern upgrades, including soaring ceilings, original wood floors, expansive windows, an ADA lift, updated restrooms, and an expanded back-of-house area. The venue features multiple flexible spaces, including a restaurant, upstairs stage, ballroom, side room, and green room. Over $300,000 has been invested in professional sound, lighting, and build-outs. The property is equipped with four fully equipped bars featuring POS systems, tap towers, chillers, walk-ins, and ice machines. The commercial kitchen includes a 12-foot hood, 6-burner stove, fryers, griddles, a dishwasher, and coolers. Entertainment infrastructure includes Meyer speakers, Midas and Behringer consoles, Pioneer DJ systems, Shure and Sennheiser microphones, and LED moving lights with haze and fog effects. Designed to host intimate gatherings and large-scale events, this fully operational and production-ready venue is suitable for restaurateurs, bar operators, and entertainment groups.
Key Highlights
- Turnkey, fully operational venue for dining, nightlife, and live entertainment.
- Historic 1893 building with restored character and modern upgrades.
- Multiple flexible spaces: restaurant, stage, ballroom, side room, green room.
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
$212,674
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
5.32%
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%
$4,253,480
$4.3M
Cap Rate 7%
$3,038,200
$3.0M
Cap Rate 9%
$2,363,044
$2.4M
Market Conditions
NOI Build-Up for 9,567 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
$298.5K $31.20/SF
− Vacancy
−$14.9K −$1.56/SF
EGI
$283.6K $29.64/SF
− OpEx
−$70.9K −$7.41/SF
NOI
$212.7K $22.23/SF
Area
Oakland, CA
Vacancy
5.00%
Lease Rate
$31.20 /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%
$4,253,480
Cap Rate 7%
$3,038,200
Cap Rate 9%
$2,363,044
Alternative Uses
Best Use
Specialty Retail
$3.04M
$2.66M – $3.54M
NOI $212,674 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.13M
$2.74M – $3.65M
NOI $219,254 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,202
Businesses Nearby
89k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 22%
Hotels & Casinos 6%
Electronics 1%
AMPM
Shops & Services
15,078 visits/mo
0.4 miles
Chevron
Shops & Services
14,597 visits/mo
0.3 miles
Starbucks
Dining
11,688 visits/mo
0.4 miles
AutoZone
Shops & Services
7,492 visits/mo
0.3 miles
Twin Peaks
Dining
5,983 visits/mo
0.2 miles
Demographics for 94612, CA
19,773
Population
11,928
Households
1.7
Avg Household Size
38
Median Age
54%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
19,773
Density / Sq Mi
$77,069
Median Household Income
$70,221
Median Earnings
$1,936
Median Rent
$814,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Fully restored 9,567 SF venue for dining and entertainment.
Where is this bar & pub located?
The property is located at 645 W Grand Ave Oakland, CA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Turnkey, fully operational venue for dining, nightlife, and live entertainment.; Historic 1893 building with restored character and modern upgrades.; Multiple flexible spaces: restaurant, stage, ballroom, side room, green room.
