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    1515 Ohio Ave Richmond, CA 94804
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    1515 Ohio Ave, Richmond, CA 94804

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    • Manufacturing properties
    • 2,560 SF
    • 0.15 lot acres
    For Sale
    $1,045,000
    View Listing →
    Richmond Warehouse with Office Space For Sale
    $1,045,000
    2,560 SF

    Richmond Warehouse with Office Space

    2,560 SF warehouse with office space and yard.

    1515 Ohio Ave, Richmond, CA 94804
    View Listing
    Property ID
    US09-2939116
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Baja Mechanical Inc. / HVAC Service / General Contractor

    Property Details for 1515 Ohio Ave

    Year built
    1959
    Construction
    CONCRETE
    Lot size
    0.15 lot acres
    Zone code
    M2
    Property type
    Manufacturing properties
    APN
    540-350-024-1
    APU
    5403500241

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 27, 2023 $861,000 Anchi Aggarwal Baja Mechanical INC Grant Deed $575k · Arlington Investment Company
    Nov 17, 2017 $520,000 Baja Mechanical INC Robert A Young Grant Deed $616k · Wells Fargo Bank NA
    Jun 7, 2012 — Young Robert A & Susan L Trust Young,susan L Affidavit Of Death · related —
    Jan 24, 2001 — Young Trust Young,robert A & Susan Quit Claim Deed · related —
    Jan 12, 2000 $155,000 Robert A Young Pinette,nicholas Grant Deed $152k · First Franklin Financial Corp
    May 28, 1991 $160,000 Nicholas Pinette Krug,r.&k. Grant Deed $100k · Individual
    Oct 16, 1989 — Security Pacific Equitable Deed C Trustees Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $875,000
      ML approach
      $905,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $671,000
      Market price range: $197k - $672k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $930,000
      COMMERCIAL (GENERAL)
      $725,000
      AUTO REPAIR, GARAGE
      $660,000
      OFFICE BUILDING
      $635,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Contra Costa
    State
    California
    Longitude
    -122.355
    Latitude
    37.931
    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
    $13,994
    $200,000
    $661,000
    $861,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      35,391 SF

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      MANUFACTURING (LIGHT)
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    • Value Estimation
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      3217 Pierce St

      MANUFACTURING (LIGHT)
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    • Value Estimation
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      2920 Regatta Blvd

      MANUFACTURING (LIGHT)
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    • Value Estimation
      $1,260,000
      17,840 SF

      3251 Jacuzzi St

      MANUFACTURING (LIGHT)
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    • Value Estimation
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      17,775 SF

      100 23rd St

      MANUFACTURING (LIGHT)
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    • Value Estimation
      $2,960,000
      43,136 SF

      600 4th St

      MANUFACTURING (LIGHT)
      600 4th St, Richmond, CA 94804-3504
      View Details

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      Richmond Warehouse with Office Space

      Warehouse with office space, roll-up doors, and secure yard.
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      Richmond Warehouse in Green Zone

      Versatile warehouse in Richmond's Green Zone, ideal for various uses.
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      Richmond Warehouse with Office Space

      Warehouse with office space, three roll-up doors, and secure yard.
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      7,425 SF

      Richmond Commercial Warehouse in Green Zone

      Versatile industrial property in Richmond's Green Zone, ideal for various uses.
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    Similar Nearby for Lease

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      Richmond Industrial Building with Cranes

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      5,482 SF

      Richmond Warehouse Space Available

      Industrial warehouse space available for lease in Richmond, California.
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    • $1.00 SF/Yr

      Renovated Office in Gated Park

      Renovated office space in a secure, multi-tenant business park.
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      142,708 SF

      Richmond Warehouse Space Available

      142,708 SF warehouse space with rail access.
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      20,669 SF

      Richmond Flex / Industrial Space

      Flex / Industrial space available for lease in Richmond, CA.
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      View Details
    View Listing
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    Richmond, CA 94804
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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.

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