White Horse Mixed-Use
New
For Sale
$2,500,000
6551 Telegraph Avenue, Oakland, CA 94609
The two-story property combines a ground-floor bar with five apartments and on-site parking.
Property Size7,596 SF
Lot Size0.18 Acres
Price / SF$328.95
Days on Market4
Property Features for 6551 Telegraph Avenue
General Information
Standard status
Active
Size
7,596 SF
Lot size
0.18 Acres
Property subtype
Mixed Use
Occupancy
100%
Additional Details
Multifamily Units
5
Building Details
Building Size
7,596 SF
Year Built
1930
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
CITRINE ADVISORS, INC.
Listed By:
Tamara Spokane
(415) 609-4662
Source:
Realestatenovo
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 3 at 2:39AM
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 CITRINE ADVISORS, INC.
Investment Insights
Based on property information with market context.
The White Horse Inn is a two-story mixed-use property with approximately 7,600 square feet of building area. A bar occupies the ground level, with five apartments above. The building dates to 1930, and each apartment has on-site parking on the 7,770-square-foot corner parcel.
The property is fully occupied. Its commercial space is subject to a triple-net lease, alongside the five residential units. The site is on Telegraph Avenue in Oakland, a short distance from the UC Berkeley campus.
The property is fully occupied. Its commercial space is subject to a triple-net lease, alongside the five residential units. The site is on Telegraph Avenue in Oakland, a short distance from the UC Berkeley campus.
Key Highlights
- Approximately 7,600‑square‑foot, two‑story mixed‑use building
- Five apartments above a ground‑floor bar
- Fully occupied; commercial space has a triple‑net lease
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
$168,948
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
6.76%
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%
$3,378,960
$3.4M
Cap Rate 7%
$2,413,543
$2.4M
Cap Rate 9%
$1,877,200
$1.9M
Market Conditions
NOI Build-Up for 7,600 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
$237.1K $31.20/SF
− Vacancy
−$11.9K −$1.56/SF
EGI
$225.3K $29.64/SF
− OpEx
−$56.3K −$7.41/SF
NOI
$168.9K $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%
$3,378,960
Cap Rate 7%
$2,413,543
Cap Rate 9%
$1,877,200
Alternative Uses
Best Use
Specialty Retail
$2.41M
$2.11M – $2.82M
NOI $168,948 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$2.29M
$2.01M – $2.67M
NOI $160,474 @ 7.0% cap · market cap 6.42%
Theoretical Best
Multifamily LT 5
$2.49M
$2.18M – $2.90M
NOI $174,175 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,225
Businesses Nearby
Explore this area
Business Placement
Demographics for 94609, CA
23,578
Population
11,915
Households
2
Avg Household Size
36
Median Age
62%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
13,869
Density / Sq Mi
$106,698
Median Household Income
$69,221
Median Earnings
$2,116
Median Rent
$1,147,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The two-story property combines a ground-floor bar with five apartments and on-site parking.
Where is this mixed-use property located?
The property is located at 6551 Telegraph Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Approximately 7,600‑square‑foot, two‑story mixed‑use building; Five apartments above a ground‑floor bar; Fully occupied; commercial space has a triple‑net lease
