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Property profile & analytics
FOR LEASE
Flex space
2450 Alvarado St San Leandro, CA 94577
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6713459
For Lease
$25,015,000
2450 Alvarado St, San Leandro, CA 94577
View Listing →
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1969
Construction
TILT-UP CONCRETE
Total area
108,797 SF
Lot
3.83 ac (166,835 SF)
APN
75-93-1-20
UPID
US09-6713459
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
-
American Service Alliance Home Appliance Store
-
Allo Products Industrial Manufacturer Production Facility
-
Lube Buster INC Oil Wholesaler Auto Parts Store
-
Noah Corporate Office
-
IFN Green Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$20.04M
Comparable Approach
Comparable
$29.85M
Blend (final)
Blend
$25.02M
Owner & transaction history
Arow Aic LLC · 4 yrs held
Arow Aic LLC
since 2022
Last sale
$26.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$36.1M
+60.8%
Auto repair, garage
$36.0M
+60.0%
Apartment house (5+ units)
$31.8M
+41.5%
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 San Leandro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Leandro 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
$22,395,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$21,705,000
6.5%
$20,035,000
7%
$18,605,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$22,470,000
Current use
OFFICE BUILDING
$36,125,000
Change: +61% · Conversion: Difficult
AUTO REPAIR, GARAGE
$35,950,000
Change: +60% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$31,790,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$31,565,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$25.02M
Range $22.51M – $27.52M · ±10% · vs last sale $26.39M (Jun 13 2022)
Last sale anchor
$26.39M
Jun 13 2022
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
$230 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$275,033
Tax year 2024
Assessed value
$22,308,256
Assessed 2024
Previous assessed
$22,308,256
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$7,555,384
Assessed improvement
$14,752,872
Applied tax rate
10.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
For Lease
Year built
1969
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
8
Stories
1
Units
1
Total area
108,797 SF
Lot
3.83 ac (166,835 SF)
APN
75-93-1-20
UPID
US09-6713459
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
INDUSTRIAL (GENERAL) Current
Est. value
$22.5M
OFFICE BUILDING
Est. value
$36.1M
AUTO REPAIR, GARAGE
Est. value
$36.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$31.8M
COMMERCIAL (GENERAL)
Est. value
$31.6M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1969
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Buildings
8
Units
1
Lot
3.83 ac
Current owner
From public records · entity-resolved
Arow Aic LLC
Entity
Mailing address
155 MONTGOMERY ST STE #500, SAN FRANCISCO, CA 94104-4110
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2022
$26,394,000
Arow Aic LLC
Roxbury Trilogy Investments LLC
Grant Deed
—
Jun 13, 2022
—
Roxbury Trilogy Investments LLC
Alvarado Industrial Center LLC
Intrafamily Transfer
related
—
Sep 3, 2020
—
Alvarado Industrial Center LLC
—
Deed
related
$7,000,000 · Wells Fargo Bank NA
Aug 25, 2017
$12,300,000
Alvarado Industrial Center LLC
Sff Realty Fund LP
Grant Deed
—
Mar 9, 2010
—
Sff Realty Fund LP
—
Deed Of Trust
related
$10,000,000 · East West Bank
Dec 7, 2006
—
Sff Realty Fund
Pechiney Plastic Packaging INC
Grant Deed
—
Jul 17, 2002
—
Pechiney Plastic Packaging INC
San Leandro City (ca)
Quit Claim Deed
related
—
Apr 30, 1998
—
Jps Packaging Co
Indorak
Grant Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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