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    1 Richmond Ave Richmond, CA 94801-3948

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    1 Richmond Ave Richmond, CA 94801-3948

    View on Map
    • Office buildings
    • 9,434 SF
    • 0.08 lot acres
    Off-Market
    Property ID
    US09-2946163
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,740,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hurlbut Tennis & Garden Park / Sports Field & Court / Sports School
    • Elevate Healing IV Hydration - Point Richmond / Alternative Medicine Practice / Spa & Massage Center
    • Coco Ink Beauty Lab / Medical Clinic / Skin Care Clinic
    • iHouses / Charitable Organization / Social Service Agency
    • Richmond Plunge / Swimming Pool / Family Recreation Center

    Property Details for 1 Richmond Ave

    Year built
    1914
    Construction
    BRICK
    Lot size
    0.08 lot acres
    Property size
    9,434 SF
    Property type
    Office buildings
    APN
    558-110-005-3
    APU
    5581100053

    Description

    This exceptional investment opportunity presents the JG Gerlach Building, a 40-unit apartment building located at 1 W Richmond Ave, Richmond, CA 94801. Built in 1914, this three-story, 12,700 square foot building boasts 38 single-room occupancy units and two retail spaces, currently occupied by a hair salon and a nail salon. The property offers a strong current NOI of $293,294, representing a 7.82% cap rate, with a pro-forma NOI of $407,075 and a pro-forma cap rate of 10.86%. The asking price is $3,750,000, or $93,750 per unit, and $295.28 per square foot. Building features include seismically retrofitted masonry construction, a fully sprinklered system, 800 amp electrical service, ten separate storage units, a common area kitchen, a bitumen roof, four shared baths, and two sets of washer/dryer units. Its central location in Point Richmond offers easy access to shops, restaurants, and waterfront parks, ensuring consistent tenant demand. This property presents a compelling blend of historical charm and significant income potential, making it an ideal addition to any investment portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,080,000
      6.5%
      $1,920,000
      7%
      $1,785,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,335,000
      Current use
      COMMERCIAL (GENERAL)
      $2,670,000
      Change: +14% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,435,000
      Change: +4% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,175,000
      Change: -7% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Contra Costa
    State
    California
    Longitude
    -122.385
    Latitude
    37.925
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $52,588
    $437,456
    $2,788,796
    $3,226,252
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $915,000
      5,090 SF

      110 Railroad Ave, Unit 114

      OFFICE BUILDING • 5,090 SF
      110 Railroad Ave, Richmond, CA 94801-3924
      View Details
    • Value Estimation
      $2,395,000
      13,983 SF

      1220 Brickyard Cv Rd

      OFFICE BUILDING • 13,983 SF
      1220 Brickyard Cv Rd, Richmond, CA 94801-4188
      View Details
    • Value Estimation
      $3,760,000
      35,787 SF

      217 Harbour Way

      OFFICE BUILDING • 35,787 SF
      217 Harbour Way, Richmond, CA 94801-3138
      View Details
    • Value Estimation
      $2,030,000
      19,548 SF

      1001 Macdonald Ave

      OFFICE BUILDING • 19,548 SF
      1001 Macdonald Ave, Richmond, CA 94801-3113
      View Details
    • Value Estimation
      $575,000
      1,610 SF

      242 Marina Way

      OFFICE BUILDING • 1,610 SF
      242 Marina Way, Richmond, CA 94801-3240
      View Details
    • Value Estimation
      $2,745,000
      17,060 SF

      151 Park Pl, Unit 157

      OFFICE BUILDING • 17,060 SF
      151 Park Pl, Richmond, CA 94801-3922
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,435 SF

      Point Richmond Historical District Building

      Unique investment opportunity in an amenity-rich, walkable location.
      151-157 Park Pl, Richmond, CA 94801
      View Details
    • $1,350,000
      3,361 SF

      Light-Filled Office Building For Sale

      Charming office building with private access to gardens and decks.
      54 Railroad Ave, Richmond, CA 94801
      View Details
    • $1,350,000
      3,361 SF

      Light-Filled Office Building For Sale

      Charming office building with private garden access in Richmond.
      Railroad Ave, Richmond, CA 94801
      View Details
    • $975,000
      4,535 SF

      Point Richmond Office Investment Opportunity

      Well-maintained office property in Point Richmond with income potential.
      116 Washington Ave, Richmond, CA 94801
      View Details
    • Contact for pricing
      4,850 SF

      Richmond Office Space For Sale

      4,850 SqFt office space available in Richmond, California.
      116 Washington Ave, Richmond, CA 94801
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Richmond Boardwalk: Office and Retail

      Office and retail spaces with views of San Francisco Bay.
      1150 Brickyard Cove Rd, Richmond, CA 94801
      View Details
    • $595 /Mo
      6,700 SF

      Point Richmond Office Space

      Restored 1905 building in historic Point Richmond.
      Richmond Ave, Richmond, CA 94801
      View Details
    • $5,338 /Mo
      3,140 SF

      Richmond Office Space For Lease

      Move-in ready office space near Kaiser and BART.
      1017 Mcdonald Ave, Richmond, CA 94801
      View Details
    • Contact for pricing

      Richmond Warehouse Space Available

      Warehouse space available for lease in Richmond, California.
      401 Parr Blvd, Richmond, CA 94801
      View Details
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    Richmond, CA 94801-3948
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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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    1 Richmond Ave, Richmond, CA, 94801

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