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    1951 Shattuck Ave Berkeley, CA 94704
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    1951 Shattuck Ave, Berkeley, CA 94704

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    • Retail properties & Spaces
    • 5,229 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1951 Shattuck Ave

    Year built
    2023
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Highly visible retail and restaurant space available at Ace Berkeley, a brand-new 12-story mixed-use development (2023) at 1951 Shattuck Ave, Berkeley, CA 94704. This Class A property offers multiple suites within a vibrant Downtown Berkeley location, boasting 5,229 total square feet. Spaces range from a minimum of 1,074 square feet to a maximum contiguous space of 5,229 square feet, providing flexibility for various business needs. The building features convenient elevator access. Situated in Alameda County's Downtown Berkeley submarket, this prime location is within walking distance of numerous restaurants, entertainment venues, and cultural attractions, including the Berkeley Repertory Theatre, Freight & Salvage, and UC Theatre. The property benefits from its proximity to well-established culinary destinations like Chez Panisse and North Berkeley's culinary hub, attracting a large volume of foot traffic. This thriving area sees over 2 million annual theater and cinema patrons, ensuring high visibility and a strong customer base. The address is 1951 Shattuck Ave, with a cross street of Berkeley Way. While parking is not available on-site, the location's walkability and proximity to public transportation make it easily accessible. This is an exceptional opportunity for businesses seeking a high-impact presence in a dynamic and densely populated area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Berkeley
    County
    Alameda
    State
    California
    Longitude
    -122.268
    Latitude
    37.8729

    Comparable in this City

    • Value Estimation by Request
      3,882 SF

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    • Value Estimation by Request
      18,600 SF

      2200 Shattuck Ave

      Restaurants
      2200 Shattuck Ave, Berkeley, CA 94704
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    • Value Estimation
      $4,765,000
      57,730 SF

      2600 Durant Ave

      HISTORICAL RETAIL
      2600 Durant Ave, Berkeley, CA 94704-1711
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    • Value Estimation
      $520,000
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      2513 Telegraph Ave

      HISTORICAL RETAIL
      2513 Telegraph Ave, Berkeley, CA 94704-2917
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    • Value Estimation by Request
      0.16 Acres

      2613 Channing Way

      HISTORICAL RETAIL
      2613 Channing Way, Berkeley, CA 94704-2418
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    • Value Estimation
      $950,000
      18,832 SF

      2000 Kala Bagai Way

      HISTORICAL RETAIL
      2000 Kala Bagai Way, Berkeley, CA 94704-1322
      View Details

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    Berkeley, CA 94704
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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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