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    1501 Martin Luther King Jr Way Oakland, CA 94612-1207
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    Property profile & analytics

    1501 Martin Luther King Jr Way, Oakland, CA 94612-1207

    View on Map
    • Retail space
    • 13,455 SF
    • 0.31 lot acres
    Off-Market
    Property ID
    US09-8404791
    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
    $2,525,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Oakland Theater Project / Theater & Performing Art Venue
    • Grammy's Goodness / Cosmetic Store
    • FLAX art and design / (Bike/Boat/Book/etc) Store
    • Artistic Picture Framing - OAK / (Bike/Boat/Book/etc) Store / Home Decor Store

    Property Details for 1501 Martin Luther King Jr Way

    Year built
    1915
    Construction
    TILT-UP CONCRETE
    Lot size
    0.31 lot acres
    Property type
    Retail space
    APN
    3-73-4
    APU
    3734

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 7, 2018 — Embl LLC Peh LLC Quit Claim Deed —
    Sep 7, 2018 $5,150,000 Srp Mlk LLC Embl LLC Grant Deed —
    Dec 29, 2016 — Peh LLC Edward K Hemmat Grant Deed $2.5M · Presidio Bank
    Oct 9, 2013 $1,275,000 Hemmat,k & R 2001 Trust Tomasello,reginald Grant Deed $800k · Libitzky Hldgs LP
    Oct 9, 2013 — Clark R Beermann Beermann,walter C Affidavit Of Death · related —
    Apr 6, 2006 — Tony R Tomasello Tomasello,ruth M Affidavit Of Death · related —
    Dec 15, 2005 — Reginald Tomasello Tomasello Tony R Trust Quit Claim Deed · related —
    Aug 25, 1975 — Tomasello Tony R — Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,200,000
      Current use
      INDUSTRIAL (GENERAL)
      $3,885,000
      Change: +21% Conversion: Difficult
      OFFICE BUILDING
      $3,240,000
      Change: +1% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $3,125,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Alameda
    State
    California
    Longitude
    -122.276
    Latitude
    37.8072
    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
    2023
    $59,494
    $2,969,205
    $1,022,544
    $3,991,749
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,610,000
      20,696 SF

      2260 San Pablo Ave

      RETAIL STORES (PERSONAL SERVICES)
      2260 San Pablo Ave, Oakland, CA 94612-1321
      View Details
    • Value Estimation
      $1,085,000
      5,569 SF

      2104 Broadway

      RETAIL STORES (PERSONAL SERVICES)
      2104 Broadway, Oakland, CA 94612
      View Details
    • Value Estimation
      $680,000
      9,556 SF

      268 14th St

      RETAIL STORES (PERSONAL SERVICES)
      268 14th St, Oakland, CA 94612-4011
      View Details
    • Value Estimation
      $840,000
      4,659 SF

      332 14th St

      RETAIL STORES (PERSONAL SERVICES)
      332 14th St, Oakland, CA 94612-3907
      View Details
    • Value Estimation
      $1,280,000
      7,605 SF

      2305 Telegraph Ave

      RETAIL STORES (PERSONAL SERVICES)
      2305 Telegraph Ave, Oakland, CA 94612
      View Details
    • Value Estimation
      $1,925,000
      9,045 SF

      415 Grand Ave

      RETAIL STORES (PERSONAL SERVICES)
      415 Grand Ave, Oakland, CA 94612-2311
      View Details

    Similar Nearby for Sale

    • $1,395,000
      7,140 SF

      Oakland Commercial Property with SRO Units

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      View Details
    • $4,850,000
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      Oakland Mixed-Use Investment Opportunity

      28-unit mixed-use property in Oakland's thriving Uptown neighborhood.
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      Oakland Retail/Flex Building For Sale

      Retail/flex building in Uptown Oakland with high traffic visibility.
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    • $1,195,000

      Mixed-Use Development Opportunity in Oakland

      Five-story mixed-use building with 16 residential units and retail space.
      2321-2323 San Pablo Ave, Oakland, CA 94612
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    • Contact for pricing

      Turnkey Bar & Lounge Opportunity

      Fully equipped bar/lounge near Fox Theater and BART station.
      1780 Telegraph Ave, Oakland, CA 94612
      View Details
    • Contact for pricing
      1,393 SF

      Corner Lot on San Pablo

      Corner lot with dual frontage on San Pablo Avenue.
      2633 San Pablo Ave, Oakland, CA 94612
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      40,300 SF

      Oakland Retail and Restaurant Space

      Retail and restaurant spaces available in Oakland, California.
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      2,906 SF

      Demisable Retail Space in Oakland

      Ground floor retail space in mixed-use building, available now.
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      Downtown Oakland Retail Space Available

      Retail space with BART access in Downtown Oakland.
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      1,620 SF

      Prime Retail Space on 13th

      Highly visible retail space in downtown Oakland, near Lake Merritt.
      238 13Th St, Oakland, CA 94612
      View Details
    • Contact for pricing
      730 SF

      Uptown Retail Space Available

      Micro-retail units in Uptown Oakland, surrounded by restaurants and cafes.
      343 19Th St, Oakland, CA 94612
      View Details
    • Contact for pricing
      1,028 SF

      Turnkey Café Space in Downtown

      Former Blue Bottle Coffee Shop, perfect for café or deli.
      2001 Franklin St, Oakland, CA 94612
      View Details
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    Oakland, CA 94612-1207
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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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