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Property profile & analytics
FOR SALE
Office buildings

116 Washington Ave Richmond, CA 94801

4,535 SF 0.07 ac lot Built 1989
Individually Owned 32-yr Hold ~ Est. High Equity
Property ID
US09-1346141
Property summary
AI-generated overview

This exceptional investment opportunity encompasses two adjacent commercial properties located at 116 and 124 Washington Avenue in the desirable Point Richmond area of Richmond, California. The properties, totaling 4,535 square feet on a 0.07-acre lot, are available for purchase individually or as a combined package. The buildings, constructed in 1989 and 1991 respectively, boast historically high occupancy rates and low operational costs, making them an attractive proposition for income-seeking investors. 124 Washington Avenue features sixteen meticulously maintained office units, offering a diverse range of sizes to accommodate various business needs. The adjacent property at 116 Washington Avenue comprises five similarly well-maintained office units, providing further flexibility for potential tenants. Both buildings are known for their durable construction and enduring value. The asking price for the entire complex is $1,250,000. Attractive seller financing is available with a 4.0% interest rate, making this an even more compelling investment opportunity. This property presents a rare chance to acquire a stable, income-generating asset in a thriving commercial district.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1989
Total area 4,535 SF
Lot 0.07 ac (2,980 SF)
Zoning code C2 CD
APN 558-140-003-2
UPID US09-1346141
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Angelsmith, Inc. Marketing & Advertising
  • Fox Design Group Architects Architect
  • THE TAXBAR Tax Preparation
  • Douglas Slain Law Offices Law Firm
  • DLHASTINGS Marketing & Advertising Advertising Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$925k
Comparable Approach Comparable
by Request
Blend (final) Blend
$750k
Owner & transaction history
Walter A Connolly · 32 yrs held
Walter A Connolly
since 1994
7 recorded transactions
1994
Price N/A
1989
$100,000
1988
$70,000
1976
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
C2 CD · Richmond, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $1.2M +4.4%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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