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    2712-2726 Park Blvd Oakland, CA 94606

    Sponsored
    For Sale
    $3,090,000

    High-yield Oakland property, 75% vacant.

    Property size:
    10,943 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional mixed-use investment opportunity in Oakland, CA, presents a compelling case for immediate action. Located at 2712-2726 Park Blvd, this property boasts a total lot size of approximately 10,000 square feet, encompassing a two-story, 10,943 square foot building and an adjacent 3,000 square foot vacant lot. The building, constructed in 1950, features 11 units: six one-bedroom, one-bathroom residential apartments (three currently vacant) and five vacant commercial units totaling approximately 9,700 square feet of net rentable space. Currently operating at 30% occupancy, the property generates a net operating income (NOI) of $18,000, yielding a 6.25% cap rate at an asking price of $3,090,000 ($282.37 per square foot). The RU-5 zoning allows for flexible development options, including increased building height, making this a highly versatile investment. The property's prime location in the vibrant Ivy Hill neighborhood offers excellent frontage and significant potential for increased rental income through lease-up of vacant units and strategic redevelopment of the existing building and adjacent vacant lot, previously used as parking. This multi-faceted property offers a unique blend of residential and commercial potential, making it an ideal investment for both seasoned and emerging investors seeking substantial returns.

    Property Features for 2712-2726 Park Blvd

    General Information

    Property type
    Mixed-use properties
    Square Feet
    10,943 SF
    Class
    C

    Building Details

    Year Built
    1950
    Buildings
    1
    Stories
    2
    Units
    11

    We can help!

    Listing Contact
    Carol Reen
    Carol Reen

    Learn more

    HighLights

    • Mixed‑use building with 5 vacant commercial units (approx. 9,700 SF) and 6 residential units (3 vacant, 1 bed/1 bath each) in Oakland, CA. High rental income potential.
    • Adjacent 3,000 SF vacant lot, previously used for parking, ideal for expansion or development.
    • RU‑5 zoning allows for flexible development options, including increased building height.
    • 10,000 SF lot with a 10,943 SF building; currently generating $18,000 NOI, 6.25% cap rate at $3,090,000 asking price ($282.37/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Alameda
    State
    California
    Longitude
    -122.2411467
    Latitude
    37.8021461

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    FAQs

    What type of property is this?
    Mixed-use property - High-yield Oakland property, 75% vacant.
    Where is this mixed-use property located?
    The property is located at 2712-2726 Park Blvd Oakland, CA.
    What is the asking price?
    The asking price for this property is $3,090,000.
    What are key features of this property?
    This property features: Mixed-use building with 5 vacant commercial units (approx. 9,700 SF) and 6 residential units (3 vacant, 1 bed/1 bath each) in Oakland, CA. High rental income potential.; Adjacent 3,000 SF vacant lot, previously used for parking, ideal for expansion or development.; RU-5 zoning allows for flexible development options, including increased building height.
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    2712-2726 Park Blvd Oakland, CA 94606
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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
    2712-2726 Park Blvd Oakland, CA 94606
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    We can help!
    Listing Contact
    Carol Reen
    Carol Reen
    Real Estate License ID: CA 01820082
    Learn more
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