Four-Office Commercial
For Sale
$458,500
L-1090 Adams Street, Benicia, CA 94510
Commercial office condominium with four private offices and a client-facing reception area.
Property Size1,036 SF
Price / SF$442.57
Days on Market15
Property Features for L-1090 Adams Street
General Information
Standard status
Active
Size
1,036 SF
Listing Agency:
Coldwell Banker Solano Pacific
(707) 745-6000
Listed By:
Todd O. Willis
3331357
Source:
Exprealty
Added: Sep 9
Changed: Sep 20
Last Checked: Sep 22 at 11:36PM
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 Coldwell Banker Solano Pacific
Investment Insights
Based on property information with market context.
This commercial office condominium provides approximately 1, 036 square feet arranged around four separate private offices and an entry and reception area. The layout creates distinct workspaces while giving visitors a designated arrival point, supporting professional operations that require multiple enclosed rooms.
Located at L-1090 Adams Street in Benicia, California, the property offers an ownership format suited to an office user seeking a dedicated commercial location. Its condominium structure and divided office plan may also accommodate a professional practice or other business requiring private rooms and a formal reception setting.
Located at L-1090 Adams Street in Benicia, California, the property offers an ownership format suited to an office user seeking a dedicated commercial location. Its condominium structure and divided office plan may also accommodate a professional practice or other business requiring private rooms and a formal reception setting.
Key Highlights
- Approximately 1, 036 square feet of office space
- Four separate private offices
- Entry and reception area for clients and guests
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
$17,333
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
3.78%
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%
$346,660
$346.7K
Cap Rate 7%
$247,614
$247.6K
Cap Rate 9%
$192,589
$192.6K
Market Conditions
NOI Build-Up for 1,036 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
$27.4K $26.40/SF
− Vacancy
−$4.2K −$4.09/SF
EGI
$23.1K $22.31/SF
− OpEx
−$5.8K −$5.58/SF
NOI
$17.3K $16.73/SF
Area
Solano County, CA
Vacancy
15.50%
Lease Rate
$26.40 /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%
$346,660
Cap Rate 7%
$247,614
Cap Rate 9%
$192,589
Alternative Uses
Best Use
Office B
$247.6K
$216.7K – $288.9K
NOI $17,333 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$345.7K
$302.5K – $403.3K
NOI $24,200 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 94510, CA
27,174
Population
11,463
Households
2.4
Avg Household Size
46
Median Age
46%
College-Educated
96%
High-School Grad
29.2 sq mi
ZIP Area
931
Density / Sq Mi
$125,222
Median Household Income
$70,569
Median Earnings
$2,234
Median Rent
$778,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial office condominium with four private offices and a client-facing reception area.
Where is this office units located?
The property is located at L-1090 Adams Street Benicia, CA.
What is the asking price?
The asking price for this property is $458,500.
What are key features of this property?
This property features: Approximately 1, 036 square feet of office space; Four separate private offices; Entry and reception area for clients and guests
