Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2378 Polvorosa Ave San Leandro, CA 94577-2218
    Back to Search
    Property profile & analytics

    2378 Polvorosa Ave, San Leandro, CA 94577-2218

    View on Map
    • Warehouses
    • 28,920 SF
    • 2.65 lot acres
    Off-Market
    Last Sale May 13, 2025
    $14,200,000
    Property ID
    US09-9579343
    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

    • Warehouses

    Property Details for 2378 Polvorosa Ave

    Year built
    1973
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.65 lot acres
    Property type
    Warehouses
    APN
    79A-541-5-2
    APU
    79A54152

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 13, 2025 $14,200,000 American Builders & Contractors Sup Crefma1 Polvorosa Owner LLC Grant Deed —
    Aug 18, 2022 — Trm Corporation Polvorosa Holdings LLC Lease —
    Apr 5, 2018 — Polvorosa Holdings LLC — Deed · related $1.6M · Mortgage Cap Dev
    Jun 17, 2016 $4,100,000 Polvorosa Holdings LLC Thurston Holdings LLC Trustees Deed $2.3M · California Bk/commerce
    — — Polvorosa Holdings LLC — Deed Of Trust · related $1.6M · Mortgage Cap Dev

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    San Leandro
    County
    Alameda
    State
    California
    Longitude
    -122.187
    Latitude
    37.7094
    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
    $157,041
    $5,100,000
    $7,650,000
    $12,750,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.00 Acres

      2620 Eden Rd

      STORAGE YARD (JUNK, SALVAGE)
      2620 Eden Rd, San Leandro, CA 94577-2220
      View Details
    • Value Estimation
      $3,050,000
      29,720 SF

      2091 Farallon Dr

      WAREHOUSE, STORAGE
      2091 Farallon Dr, San Leandro, CA 94577
      View Details
    • Value Estimation
      $9,695,000
      105,000 SF

      1800 Merced St

      WAREHOUSE, STORAGE
      1800 Merced St, San Leandro, CA 94577-3228
      View Details
    • Value Estimation
      $4,035,000
      44,075 SF

      14275 Catalina St

      WAREHOUSE, STORAGE
      14275 Catalina St, San Leandro, CA 94577-5511
      View Details
    • Value Estimation
      $19,455,000
      267,666 SF

      Doolittle Dr

      MINI-WAREHOUSE, STORAGE
      Doolittle Dr, San Leandro, CA 94577
      View Details
    • Value Estimation
      $3,725,000
      32,640 SF

      14660 Doolittle Dr

      WAREHOUSE, STORAGE
      14660 Doolittle Dr, San Leandro, CA 94577-6617
      View Details

    Similar Nearby for Sale

    • $799,000

      San Leandro Industrial Property For Sale

      Versatile industrial property in San Leandro, near Oakland Airport.
      1688 Timothy Dr, San Leandro, CA 94577
      View Details
    • Contact for pricing
      25,600 SF

      San Leandro Flex Warehouse Building

      Light industrial flex warehouse building for sale in San Leandro.
      14333 Wicks Blvd, San Leandro, CA 94577
      View Details
    • Contact for pricing
      15,641 SF

      San Leandro Flex Space Condo

      15,641 SF condo unit with office and warehouse space.
      2485 Washington Ave, San Leandro, CA 94577
      View Details
    • Contact for pricing
      15,900 SF

      San Leandro Warehouse Near I-880

      Warehouse with high ceilings, roll-up doors, and ample parking.
      1771 Timothy Dr, San Leandro, CA 94577
      View Details
    • Contact for pricing
      4,010 SF

      Industrial Condo with Office Space

      4,020 sq ft industrial condo with office in San Leandro.
      2982 Teagarden St, San Leandro, CA 94577
      View Details
    • $1,195,000

      San Leandro Industrial Condo

      Industrial condo with warehouse and office space for sale.
      2982 Teagarden St, San Leandro, CA 94577
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      San Leandro Warehouse/Distribution Space

      Light industrial warehouse/distribution project with front loading drive-in doors.
      14204-14212 Doolittle Dr, San Leandro, CA 94577
      View Details
    • $1.35 SF/Yr

      San Leandro Warehouse Sublease Available

      8,400 SF sublease with office space and loading dock.
      1991 Burroughs Ave, San Leandro, CA 94577
      View Details
    • Contact for pricing
      14,200 SF

      San Leandro Warehouse with Office

      14,200 SF warehouse with office space and convenient access.
      2801 Merced St, San Leandro, CA 94577
      View Details
    • Contact for pricing
      11,860 SF

      San Leandro Warehouse Space Available

      11,860 SF warehouse space with dock-high and grade-level doors.
      3004 Alvarado St, San Leandro, CA 94577
      View Details
    • Contact for pricing
      11,600 SF

      San Leandro Industrial Space Available

      11,600 SF industrial space with freeway visibility for lease.
      1605-1619 Abram Ct, San Leandro, CA 94577
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2378 Polvorosa Ave
    San Leandro, CA 94577-2218
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2378 Polvorosa Ave, San Leandro, CA, 94577
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!