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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Office Spaces
2221 Hbr Bay Pkwy Alameda, CA 94502-3026
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US09-9238015
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2007
Construction
TILT-UP CONCRETE
Total area
1,665 SF
Lot
3.41 ac (148,498 SF)
APN
74-1362-17
UPID
US09-9238015
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
-
Kelly Lux - State Farm Insurance Agent Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
$550k
Comparable Approach
Comparable
$517k
Blend (final)
Blend
$520k
Owner & transaction history
Kelly E Lux · 5 yrs held
Kelly E Lux
since 2021
Last sale
$532,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$705,000
+55.9%
Medical building
$660,000
+45.1%
Auto repair, garage
$535,000
+18.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Alameda submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alameda submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$510,000
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
$600,000
6.5%
$550,000
7%
$515,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$455,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$705,000
Change: +56% · Conversion: Difficult
MEDICAL BUILDING
$660,000
Change: +45% · Conversion: Easy
AUTO REPAIR, GARAGE
$535,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$470,000
Change: +4% · Conversion: Moderate
COMMERCIAL (GENERAL)
$465,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $532k (Feb 4 2021)
Last sale anchor
$532k
Feb 4 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$312 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,180
Tax year 2023
Assessed value
$564,558
Assessed 2024
Previous assessed
$553,492
+2.0% YoY
Effective rate
1.63%
On assessed value
Assessed land
$169,792
Assessed improvement
$394,766
Applied tax rate
21.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2007
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
1
Stories
2
Bathrooms
2
Total area
1,665 SF
Lot
3.41 ac (148,498 SF)
APN
74-1362-17
UPID
US09-9238015
Jurisdiction
ALAMEDA
Metro division
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$455,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$705,000
MEDICAL BUILDING
Est. value
$660,000
AUTO REPAIR, GARAGE
Est. value
$535,000
RETAIL STORES
Est. value
$470,000
COMMERCIAL (GENERAL)
Est. value
$465,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Buildings
1
Bathrooms
2
Lot
3.41 ac
Current owner
From public records · entity-resolved
Kelly E Lux
Individual
Mailing address
2221 HBR BAY PKWY, ALAMEDA, CA 94502-3026
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 4, 2021
$532,000
Kelly E Lux
Cpg Immigration Law Group
Grant Deed
$274,000 · Cit Bank NA
Feb 4, 2021
—
Kelly E Lux
—
Deed
related
$224,000 · The Mortgage Capital Development Corp
Nov 3, 2015
$360,000
Cpg Immigration Law Group
Francis J Matarrese JR
Grant Deed
$252,000 · Trans Pacific National Bank
Apr 4, 2012
$315,000
Matarrese F J JR & A K 2007 Trust
Lincoln Natl Life Ins Co
Grant Deed
—
Jan 29, 2009
$3,320,500
Lincoln National Life Ins Co
Vcc-alameda North
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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