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    Oakland Chinatown Office Condos Title is generated by Realmo AI

    9th St. Unit 308 & 309, Oakland, CA 94607

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    For Sale
    $395,000

    Two light-filled office condos in Oakland's vibrant Chinatown.

    Type:Commercial
    Property size:
    1,663 SF
    Lot size:
    0.57 Acres
    Price / SF:
    $237/SF
    Added:
    May 2, 2025
    Days on Market:
    403
    Last Refresh:
    Apr 5 at 8:37 pm

    Property Features for 9th St. Unit 308 & 309

    General Information

    Standard status
    Active
    Size
    1,663 SF
    Lot size
    0.57 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    VEA THAI

    Listing agent VEA THAI

    Listing office PREFERRED REAL ESTATE

    Listing date May 2, 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 PREFERRED REAL ESTATE

    HighLights

    • Prime location in the heart of Oakland Chinatown, close to amenities.
    • Convenient commuting with quick access to freeways.
    • Two light‑filled commercial office condos with window views.
    • Well‑maintained building with new roof, elevator access, and secured entrance.
    • 24/7 surveillance throughout the premises and parking areas.
    • Each unit includes a gated assigned parking space.

    Overview

    Two commercial office condos are available in Oakland's Chinatown. Located on the third floor, these units benefit from natural light and window views overlooking the parking lot. The location provides convenient access to banks, shops, restaurants, medical offices, and Lake Merritt BART. Commuting is facilitated by proximity to freeways 880, 580, and 980. The building is well-maintained and features a new roof, elevator access, a secured entrance, an intercom system, and 24/7 surveillance throughout the premises and parking areas. Each unit includes a gated assigned parking space. The combined property size is 1663 square feet. The units can be purchased separately.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $39.1k $23.52
    − Vacancy −$9.4k −$5.64
    EGI $29.7k $17.88
    − OpEx −$7.4k −$4.47
    NOI $22.3k $13.41
    1,663 SF · lease $23.52/SF/yr · vacancy 24.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $318.5K
    $278.7K – $371.6K (±1% cap)
    NOI $22,295 @ 7.0% cap · market cap 5.64%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $544.5K
    $476.4K – $635.2K (±1% cap)
    NOI $38,112 @ 7.0% cap · market cap 9.65%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Alameda
    State
    California
    Longitude
    -122.264
    Latitude
    37.7976

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    FAQs

    What type of property is this?
    Office units - Two light-filled office condos in Oakland's vibrant Chinatown.
    Where is this office units located?
    The property is located at 9th St. Unit 308 & 309 Oakland, CA.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Prime location in the heart of Oakland Chinatown, close to amenities.; Convenient commuting with quick access to freeways.; Two light‑filled commercial office condos with window views.
    (510) 381-9695
    We can help!
    Listing Contact
    VEA THAI
    Learn More
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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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