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Property profile & analytics
FOR LEASE
Flex space
641 Gilman St Berkeley, CA 94710
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-8536575
For Lease
1 / 4
$5,665,000
641 Gilman St, Berkeley, CA 94710
View Listing →
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1943
Construction
TYPE NOT SPECIFIED
Total area
14,325 SF
Lot
0.5 ac (21,875 SF)
APN
60-2363-2
UPID
US09-8536575
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
$5.03M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.67M
Owner & transaction history
Lacey Town Center LLC · 2 yrs held
Lacey Town Center LLC
since 2023
Last sale
$6.3M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Berkeley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkeley 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
$5,080,000
ML approach
$5,030,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$7,720,000
Current use
MEDICAL BUILDING
$7,665,000
Change: -1% · Conversion: Difficult
RESTAURANT
$7,210,000
Change: -7% · Conversion: Difficult
OFFICE BUILDING
$6,915,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$5.67M
Range $5.10M – $6.23M · ±10% · vs last sale $6.28M (Nov 2 2023)
Last sale anchor
$6.28M
Nov 2 2023
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
$395 / 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
$63,642
Tax year 2024
Assessed value
$3,200,000
Assessed 2024
Previous assessed
$3,200,000
+0.0% YoY
Effective rate
1.99%
On assessed value
Assessed land
$1,300,000
Assessed improvement
$1,900,000
Applied tax rate
13.0000
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
1943
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
1
Stories
1
Units
382
Total area
14,325 SF
Lot
0.5 ac (21,875 SF)
APN
60-2363-2
UPID
US09-8536575
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
$7.7M
MEDICAL BUILDING
Est. value
$7.7M
RESTAURANT
Est. value
$7.2M
OFFICE BUILDING
Est. value
$6.9M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
RESTAURANT
OFFICE BUILDING
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
1943
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
1
Units
382
Lot
0.5 ac
Current owner
From public records · entity-resolved
Lacey Town Center LLC
Entity
Free & Clear · 2 yrs held
Mailing address
150 N WIGET LN, WALNUT CREEK, CA 94598-2437
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2023
$6,277,000
Lacey Town Center LLC
Garello Properties LLC
Grant Deed
—
Oct 24, 2002
—
Garello Properties LLC
Garello,david J
Quit Claim Deed
related
—
Apr 26, 1971
—
Northwest Properties & Leasing Co
—
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?”
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