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    Property profile & analytics

    940 81st Ave Oakland, CA 94621-2512

    • Warehouses
    • 31,077 SF
    • 2.63 lot acres
    OFF-MARKET
    Last Sale
    Aug 27, 2024
    $8,000,000
    Value Estimations
    $7,975,000
    Show details
    Cap Rate Potential
    5.8%
    Warehouses
    Location Intelligence
    Property ID
    US09-6916462
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 940 81st Ave

    Year built
    1950
    Construction
    TILT-UP CONCRETE
    Lot size
    2.63 lot acres
    Property size
    31,077 SF
    Property type
    Warehouses
    APN
    41-4206-5
    APU
    4142065

    Description

    This exceptional 37,437 square foot industrial property, located at 940 81st Ave in Oakland, California, presents a unique opportunity for a single tenant. The property boasts a versatile layout encompassing executive office space, ample refrigerated/cold storage facilities, and substantial warehouse area, all within a single building. Situated on a generous 2.63-acre lot, the building offers significant flexibility for a variety of businesses. The property features robust electrical service, with approximately 800 amps at 480 volts, ensuring sufficient power for demanding operations. The zoning designation is CIX-2, allowing for a range of permitted uses. The entire 37,437 square feet is currently vacant, providing immediate occupancy for the successful lessee. The property's Alameda County location (APN 41-4206-5) offers convenient access to major transportation arteries, making it an ideal location for distribution and logistics operations. This is a rare opportunity to secure a large, versatile industrial space in a prime Oakland location. The property is ready for immediate occupancy. The zip code is 94621.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,000,000
      ML approach
      $8,000,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,695,000
      6.5%
      $7,105,000
      7%
      $6,595,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,274,000
      Market price range: $2.90M - $8.27M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Alameda
    State
    California
    Longitude
    -122.187
    Latitude
    37.7517
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $159,266
    $2,228,520
    $9,397,390
    $11,625,910
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $570,000
      28,140 SF

      6315 San Leandro St

      WAREHOUSE, STORAGE • 28,140 SF
      6315 San Leandro St, Oakland, CA 94621-3727
      View Details
    • Value Estimation
      $780,000
      76,818 SF

      678 Hegenberger Rd

      MINI-WAREHOUSE, STORAGE • 76,818 SF
      678 Hegenberger Rd, Oakland, CA 94621
      View Details
    • Value Estimation
      $675,000
      37,824 SF

      8200 Capwell Dr

      WAREHOUSE, STORAGE • 37,824 SF
      8200 Capwell Dr, Oakland, CA 94621-2112
      View Details
    • Value Estimation
      $570,000
      38,720 SF

      8141 Capwell Dr

      WAREHOUSE, STORAGE • 38,720 SF
      8141 Capwell Dr, Oakland, CA 94621
      View Details
    • Value Estimation
      $835,000
      383,560 SF

      7200 Edgewater Dr

      WAREHOUSE, STORAGE • 383,560 SF
      7200 Edgewater Dr, Oakland, CA 94621-3004
      View Details
    • Value Estimation
      $625,000
      43,866 SF

      791 66th Ave

      WAREHOUSE, STORAGE • 43,866 SF
      791 66th Ave, Oakland, CA 94621-3713
      View Details

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      6,722 SF

      Oakland Warehouse Space Available

      6,722 SF warehouse for sale in Oakland, California.
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    • $2,500,000
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      Oakland Warehouse Near Airport

      Green zone warehouse close to Hwy 880 and Coliseum.
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    Similar Nearby for Lease

    • Contact for pricing
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      6,254 SF

      Oakland Warehouse with Loading Docks

      Available warehouse space with dock and grade level loading.
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      View Details
    • Contact for pricing
      3,323 SF

      Oakland Warehouse with Fenced Parking

      Warehouse space near Oakland Airport with convenient transportation access.
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      View Details
    • Contact for pricing
      11,220 SF

      Oakland Warehouse with Secured Loading

      Available warehouse space with dock and grade level loading.
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      View Details
    • $0.95 SF/Yr
      19,772 SF

      Oakland Warehouse with Rail Service

      Warehouse space with rail service, yard, and ESFR sprinklers.
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      View Details
    • $1.15 SF/Yr
      5,000 SF

      Oakland Warehouse Space for Lease

      5,000 SF warehouse space with office and shared yard.
      965 89Th Ave, Oakland, CA 94621
      View Details
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    940 81st Ave
    Oakland, CA 94621-2512
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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