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    San Leandro Retail and Bar Title is generated by Realmo AI

    Hesperian Blvd, San Leandro, CA 94578

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    Claim this Listing
    For Sale
    $3,750,000

    Historic property with sports bar and retail spaces for sale.

    Type:Commercial
    Property size:
    7,324 SF
    Lot size:
    0.44 Acres
    Price / SF:
    $512/SF
    Added:
    Jun 25, 2025
    Days on Market:
    348
    Last Refresh:
    Apr 5 at 8:34 pm

    Property Features for Hesperian Blvd

    General Information

    Standard status
    Active
    Size
    7,324 SF
    Lot size
    0.44 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    MCKINLEY HARRIS
    MCKINLEY HARRIS

    Listing agent MCKINLEY HARRIS

    Listing office BHG RE RELIANCE PARTNERS

    Listing date Jun 25, 2025

    Source Corcoran

    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 BHG RE RELIANCE PARTNERS

    HighLights

    • Anchored by a recently updated and popular sports bar (formerly ranked #2 nationally) with catering capabilities.
    • Five retail spaces with frontal access and window displays.
    • 22‑car parking lot accessible from two main streets.
    • High visibility from a quarter mile.
    • Property includes five units; three occupied and two vacant.
    • Includes a large restaurant and bar space with pool tables.

    Overview

    This historic property in San Leandro features five retail spaces, each with frontal access and full window displays. The property includes a 22-car parking lot accessible from two main streets, offering visibility from a quarter mile. The property consists of five units, three of which are currently occupied, and two are vacant. The largest unit contains a sizable restaurant and bar area with pool tables. One of the tenants is Ricky's Sports Bar, which has been updated and offers catering to various sports teams. Other retail spaces include a hair and nail salon and a floral shop. The property is suitable for retail and restaurant businesses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Similar Places Nearby

    • Rickey’s Sports Lounge — 15028 Hesperian Blvd, San Leandro, CA 94578
    • La Oficina #2 — 15293 Hesperian Blvd, San Leandro, CA 94578
    • Stadium Club — 15698 e 14th st, san leandro, ca 94578
    • Cinemark Century Bayfair Mall 16 — 15555 E 14th St Suite 600, San Leandro, CA 94578
    • Ricky's Raiderland Shop — 15028 hesperian blvd, san leandro, ca 94578

    Map

    City
    San Leandro
    County
    Alameda
    State
    California
    Longitude
    -122.13
    Latitude
    37.7043

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    FAQs

    What type of property is this?
    Bar & Pub - Historic property with sports bar and retail spaces for sale.
    Where is this bar & pub located?
    The property is located at Hesperian Blvd San Leandro, CA.
    What is the asking price?
    The asking price for this property is $3,750,000.
    What are key features of this property?
    This property features: Anchored by a recently updated and popular sports bar (formerly ranked #2 nationally) with catering capabilities.; Five retail spaces with frontal access and window displays.; 22‑car parking lot accessible from two main streets.
    (510) 868-1400
    We can help!
    Listing Contact
    MCKINLEY HARRIS
    MCKINLEY HARRIS
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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.

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