Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    31047 Courthouse Dr Union City, CA 94587-1718
    Back to Search
    Property profile & analytics

    31047 Courthouse Dr, Union City, CA 94587-1718

    View on Map
    • Strip malls
    • 38,561 SF
    • 3.67 lot acres
    Off-Market
    Property ID
    US09-8424290
    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
    $7,285,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Crumbl - Union City / Bakery / Take-out & Catering

    Property Details for 31047 Courthouse Dr

    Year built
    2005
    Construction
    TILT-UP CONCRETE
    Lot size
    3.67 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    463-60-51
    APU
    4636051

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 23, 2022 — Pappas Union City No 2 LP — Deed · related $455M · Bank Of The West
    Dec 2, 2014 — Pappas Union City 2 LP — Loan Modification · related $46.7M · Miscellaneous Ins Co
    Dec 10, 2012 — Pappas Union City 2 LP Pappas Union City LP Quit Claim Deed $40M · Key Bank NA
    Dec 30, 2004 — Pappas Union City — Trustees Deed · related $9.9M · Bank Of The West
    — — Pappas Union City — Deed Of Trust · related $16.2M · Key Bank NA

    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
    Union City
    County
    Alameda
    State
    California
    Longitude
    -122.068
    Latitude
    37.6029
    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
    $270,795
    $514,131
    $12,473,982
    $12,988,113
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,320,000
      10,626 SF

      34601 Alvarado Niles Rd

      SHOPPING CENTER, STRIP CENTER
      34601 Alvarado Niles Rd, Union City, CA 94587-4598
      View Details
    • Value Estimation
      $1,110,000
      6,600 SF

      32013 Alvarado Blvd

      SHOPPING CENTER, STRIP CENTER
      32013 Alvarado Blvd, Union City, CA 94587
      View Details
    • Value Estimation
      $1,165,000
      5,036 SF

      34396 Alvarado Niles Rd

      REGIONAL SHOPPING CENTER, MALL
      34396 Alvarado Niles Rd, Union City, CA 94587-4454
      View Details
    • Value Estimation
      $920,000
      3,179 SF

      32060 Un Lndg

      REGIONAL SHOPPING CENTER, MALL
      32060 Un Lndg, Union City, CA 94587-1769
      View Details
    • Value Estimation
      $6,055,000
      23,058 SF

      32115 Un Lndg

      REGIONAL SHOPPING CENTER, MALL
      32115 Un Lndg, Union City, CA 94587-1763
      View Details
    • Value Estimation by Request
      0.03 Acres

      Alvarado Niles Rd

      REGIONAL SHOPPING CENTER, MALL
      Alvarado Niles Rd, Union City, CA 94587
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,863 SF

      Union City Office/Warehouse Condo

      Versatile two-story condo with office and warehouse space.
      29300 Kohoutek Way, Union City, CA 94587
      View Details
    • Contact for pricing

      Residential Lot in Union City

      Residential lot with potential for custom home construction.
      394 Appian Way, Union City, CA 94587
      View Details
    • Contact for pricing
      2,984 SF

      Union City Multifamily Triplex

      Multifamily property featuring three units in Union City.
      33638 9Th St, Union City, CA 94587
      View Details
    • Contact for pricing

      Land in Great Neighborhood

      Good size lot in Union City neighborhood, verify zoning.
      217 Appian Way, Union City, CA 94587
      View Details
    • Contact for pricing
      51,934 SF

      Union City Warehouse Space Available

      Warehouse space featuring truck staging, dock doors, and ample power.
      34343 Zwissig Way, Union City, CA 94587
      View Details
    • $950,000

      Union City Office/Warehouse Condo

      Versatile two-story condo with warehouse and office space.
      29300 Kohoutek Way, Union City, CA 94587
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Retail Space in Union City

      Retail space available within a large open-air shopping mall.
      31300 Courthouse Dr, Union City, CA 94587
      View Details
    • Contact for pricing
      1,670 SF

      Retail Space in Open-Air Mall

      Retail space available in a large Union City shopping destination.
      30963 Courthouse Dr, Union City, CA 94587
      View Details
    • Contact for pricing
      1,250 SF

      Retail Space in Cherrywood Plaza

      Retail space available in Union City's Cherrywood Plaza.
      2609-2651 Decoto Rd, Union City, CA 94587
      View Details
    • Contact for pricing
      6,136 SF

      Freestanding Building on Mission Boulevard

      Freestanding building with parking and dock high loading in Union City.
      33641 Mission Blvd, Union City, CA 94587
      View Details
    • New
      Contact for pricing

      Two Freestanding Flex Buildings

      Two freestanding buildings along a high-visibility corridor offer flexible space for owner-users and tenants, subject to city approval.
      35194 Alvarado Niles Rd, Union City, CA 94587
      View Details
    • Contact for pricing

      Warehouse with Fenced Yard

      18,900 SF warehouse with 3,000 SF office and large yard.
      30311 Union City Blvd, Union City, CA 94587
      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.
    31047 Courthouse Dr
    Union City, CA 94587-1718
    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
    31047 Courthouse Dr, Union City, CA, 94587
    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!