Industrial Warehouse with Heavy Wet
For Sale
$795,000
705 37th Street, Oakland, CA 94609
Fully vacant warehouse with office space, two bathrooms, 400-amp 240V 3-phase power, 2.5-inch plumbing, and strong drainage.
Property Size4,644 SF
Price / SF$171.19
Days on Market107
Property Features for 705 37th Street
General Information
Standard status
Active
Size
4,644 SF
Property subtype
Commercial
Additional Details
Heavy Power
Yes
Amenities
Concrete Slab Flooring
Unfinished Flooring
Listing Agency:
COMPASS
(510) 339-6460
Listed By:
MARK R CHOW
Source:
Corcoran
Added: May 8
Changed: Aug 22
Last Checked: Aug 22 at 8:04AM
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 COMPASS
Investment Insights
Based on property information with market context.
705 37th Street is a 4,644 SF industrial warehouse delivered fully vacant, with office space and two bathrooms. The facility was built out and operated for wet processing as a commercial laundry, not dry cleaning, and it includes substantial utility infrastructure designed for water-based operations.
The building features 400-amp, 240V, 3-phase electrical service, 2.5-inch plumbing throughout, and excellent drainage already in place. Located in Oakland’s established 37th Street corridor, the property is intended to support efficient start-up for appropriate wet-use industrial activities where dependable power, plumbing, and drainage matter.
The building features 400-amp, 240V, 3-phase electrical service, 2.5-inch plumbing throughout, and excellent drainage already in place. Located in Oakland’s established 37th Street corridor, the property is intended to support efficient start-up for appropriate wet-use industrial activities where dependable power, plumbing, and drainage matter.
Key Highlights
- 4,644 SF industrial warehouse delivered fully vacant in Oakland’s 37th Street corridor
- Built out for wet‑use commercial laundry/wet processing with zero dry cleaning chemicals noted in remarks
- 400‑amp, 240V 3‑phase electrical service for heavy mechanical operations
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
$68,990
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
8.68%
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%
$1,379,800
$1.4M
Cap Rate 7%
$985,571
$985.6K
Cap Rate 9%
$766,556
$766.6K
Market Conditions
NOI Build-Up for 4,644 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
$88.6K $19.08/SF
− Vacancy
−$7.4K −$1.60/SF
EGI
$81.2K $17.48/SF
− OpEx
−$12.2K −$2.62/SF
NOI
$69.0K $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%
$1,379,800
Cap Rate 7%
$985,571
Cap Rate 9%
$766,556
Alternative Uses
Best Use
Warehouse
$985.6K
$862.4K – $1.15M
NOI $68,990 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.52M
$1.33M – $1.77M
NOI $106,430 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
3,318
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Fully vacant warehouse with office space, two bathrooms, 400-amp 240V 3-phase power, 2.5-inch plumbing, and strong drainage.
Where is this warehouse located?
The property is located at 705 37th Street Oakland, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 4,644 SF industrial warehouse delivered fully vacant in Oakland’s 37th Street corridor; Built out for wet‑use commercial laundry/wet processing with zero dry cleaning chemicals noted in remarks; 400‑amp, 240V 3‑phase electrical service for heavy mechanical operations
