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    Property profile & analytics

    Washington Ave. & Lewelling Blvd San Leandro, CA 94579

    • Retail properties
    • 142,618 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 0 Washington Ave. & Lewelling Blvd

    Property size
    142,618 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    Greenhouse Marketplace, located at Washington Ave. & Lewelling Blvd in San Leandro, CA 94579, offers a prime retail and restaurant opportunity in Alameda County. This 142,618 square foot center boasts a total of seven suites, with 31,440 square feet currently vacant. Spaces range from a minimum of 500 square feet to a maximum contiguous space of 23,700 square feet, providing flexibility for various business needs. The property features ample parking with 1,106 spaces available for customers and employees. Its strategic location provides convenient access to Interstate 880, one of Northern California's busiest freeways, ensuring high visibility and accessibility for businesses. The center benefits from a strong existing tenant base, including multiple anchors and a variety of smaller shops and restaurants located on outparcels, creating a thriving and loyal customer base. This established center offers a unique opportunity to join a successful retail environment in a high-density community. A virtual tour is available online.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    San Leandro
    County
    Alameda
    State
    California
    Longitude
    -122.137
    Latitude
    37.6883

    Comparable in this City

    • Value Estimation by Request
      1,234 SF

      14988 Farnsworth St

      RESTAURANT • 1,234 SF
      14988 Farnsworth St, San Leandro, CA 94579-1468
      View Details
    • Value Estimation
      $585,000
      3,520 SF

      15555 Hesperian Blvd

      RESTAURANT • 3,520 SF
      15555 Hesperian Blvd, San Leandro, CA 94579-1801
      View Details
    • Value Estimation by Request
      4,300 SF

      1221 Mnr Blvd

      RESTAURANT • 4,300 SF
      1221 Mnr Blvd, San Leandro, CA 94579-1615
      View Details
    • Value Estimation
      $565,000
      3,255 SF

      15555 Hesperian Blvd

      RESTAURANT • 3,255 SF
      15555 Hesperian Blvd, San Leandro, CA 94579-1801
      View Details
    • Value Estimation
      $550,000
      3,030 SF

      120 Greenhouse Mall

      RESTAURANT • 3,030 SF
      120 Greenhouse Mall, San Leandro, CA 94579
      View Details
    • Value Estimation by Request
      960 SF

      15199 Washington Ave

      SERVICE STATION (FULL SERVICE) • 960 SF
      15199 Washington Ave, San Leandro, CA 94579-1808
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,000 SF

      San Leandro Gas Station For Sale

      Gas station with convenience store and canopy, built in 2021.
      712 Lewelling Blvd, San Leandro, CA 94579
      View Details
    • Contact for pricing

      Ready-to-Build Townhouse Land

      0.47 acre land ready for 6-unit townhouse project.
      874 Lewelling Blvd, San Leandro, CA 94579
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,000 SF

      Retail Space in High-Density Area

      Retail and restaurant spaces available in a busy shopping center.
      699 Lewelling Blvd, San Leandro, CA 94579
      View Details
    • Contact for pricing
      142,618 SF

      San Leandro Retail Center Investment

      High-traffic retail space, 7 suites available
      0 Washington Ave. & Lewelling Blvd, San Leandro, CA 94579
      View Details
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    Washington Ave. & Lewelling Blvd
    San Leandro, CA 94579
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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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