Back to Search
Property profile & analytics
FOR SALE
Commercial land
635 Marina Blvd San Leandro, CA 94577
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US09-7938987
For Sale
Contact for pricing
635 Marina Blvd, San Leandro, CA 94577
View Listing →
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,630 SF
Lot
2.4 ac (104,544 SF)
APN
75-93-7-2
UPID
US09-7938987
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.42M
CAP Approach
CAP
$3.94M
Comparable Approach
Comparable
$5.35M
Blend (final)
Blend
$5.44M
Owner & transaction history
Penske Truck Leasing Co LP · 3 yrs held
Penske Truck Leasing Co LP
since 2022
Last sale
$6.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.4M
+73.5%
Neighborhood: shopping center
$5.4M
+46.4%
Medical building
$5.0M
+36.3%
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
$5,345,000
ML approach
$5,420,000
CAP Approach
CAP Return
Estimation
6%
$4,265,000
6.5%
$3,935,000
7%
$3,655,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,665,000
Current use
RESTAURANT
$6,360,000
Change: +74% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,365,000
Change: +46% · Conversion: Difficult
MEDICAL BUILDING
$4,995,000
Change: +36% · Conversion: Easy
OFFICE BUILDING
$4,195,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,175,000
Change: +14% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,690,000
Change: +1% · Conversion: Moderate
RETAIL STORES
$3,400,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$5.44M
Range $4.90M – $5.98M · ±10% · vs last sale $6.30M (Aug 25 2022)
Last sale anchor
$6.30M
Aug 25 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
$431 / 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
$79,246
Tax year 2023
Assessed value
$6,426,000
Assessed 2024
Previous assessed
$6,300,000
+2.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$6,426,000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Sale
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Total area
12,630 SF
Lot
2.4 ac (104,544 SF)
APN
75-93-7-2
UPID
US09-7938987
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
COMMERCIAL (GENERAL) Current
Est. value
$3.7M
RESTAURANT
Est. value
$6.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.4M
MEDICAL BUILDING
Est. value
$5.0M
OFFICE BUILDING
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.7M
RETAIL STORES
Est. value
$3.4M
COMMERCIAL (GENERAL) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Lot
2.4 ac
Current owner
From public records · entity-resolved
Penske Truck Leasing Co LP
Entity
Mailing address
2675 MORGANTOWN RD, READING, PA 19607-9676
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
Aug 25, 2022
$6,300,000
Penske Truck Leasing Co LP
Zelig LLC
Grant Deed
—
Sep 10, 2021
—
Zelig LLC
—
Deed
related
$3,055,000 · Live Oak Banking Company
Jan 30, 2020
—
Zelig LLC
—
Deed
related
—
Oct 10, 2017
$5,000,000
Zelig LLC
Wayne Martinelli
Grant Deed
—
Oct 3, 2000
—
Martinelli Trust
Martinelli,wayne
Quit Claim Deed
related
—
Jun 11, 1996
—
Wayne Martinelli
Martinelli,dan & Frances
Quit Claim Deed
related
—
May 22, 1996
—
Dan Martinelli
Martinelli Trust
Quit Claim Deed
related
—
Nov 8, 1989
—
City Of San Lean
Martineli,d.&f.
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
