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Property profile & analytics
FOR LEASE
Hotels
988 Broadway Oakland, CA 94607
Entity Owned
1-yr Hold
Free & Clear
Property ID
US09-6778050
For Lease
1 / 2
$10,600,000
988 Broadway, Oakland, CA 94607
View Listing →
Property summary
AI-generated overview
This exceptional retail opportunity is located on the ground floor of the Courtyard by Marriott Oakland Downtown hotel at 988 Broadway. Situated at the corner of 8th and Broadway, this property boasts excellent visibility between Old Oakland and Chinatown, benefiting from high foot traffic and prominent exposure. The two available micro-retail units offer a combined total of 472 square feet of space, ideal for service-oriented businesses. Unit #161 encompasses 221 square feet, while Unit #159 provides 251 square feet. Both units feature attractive window frontage, maximizing natural light and showcasing your business to passersby. The surrounding area is vibrant and diverse, with a mix of downtown office buildings, residential properties, numerous bars and restaurants, and the convenient proximity of Jack London Square. This location is perfect for businesses seeking a high-traffic, easily accessible location within a thriving community. The property is strictly limited to retail or service uses
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2002
Construction
WOOD
Total area
96,300 SF
Lot
0.86 ac (37,342 SF)
APN
2-96-3
UPID
US09-6778050
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
-
Beauty Legend Hair Salon Nail Salon
-
Bay Area Tour Travel Agency
-
Café Gabriela Cafe & Coffee Shop
-
Kims Watch & Jewelry (Bike/Boat/Book/etc) Store
-
Boost Mobile Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.60M
Owner & transaction history
B9 Hotel LLC · 1 yrs held
B9 Hotel LLC
since 2024
Last sale
$10.6M
7 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 Oakland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oakland 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
$10,600,000
ML approach
$10,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$10.60M
Range $9.54M – $11.66M · ±10% · vs last sale $10.60M (Oct 2 2024)
Last sale anchor
$10.60M
Oct 2 2024
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
$110 / 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
$637,975
Tax year 2023
Assessed value
$44,646,806
Assessed 2024
Previous assessed
$43,718,498
+2.1% YoY
Effective rate
1.43%
On assessed value
Assessed land
$26,100,000
Assessed improvement
$18,546,806
Applied tax rate
17.0000
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
Hotels
Use group
HOTEL
Status
For Lease
Year built
2002
Construction
WOOD
Heating
NONE
Buildings
1
Stories
5
Units
162
Total area
96,300 SF
Lot
0.86 ac (37,342 SF)
APN
2-96-3
UPID
US09-6778050
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
Building & site characteristics
From public records
Year built
2002
Construction
WOOD
Heating
NONE
Stories
5
Buildings
1
Units
162
Lot
0.86 ac
Current owner
From public records · entity-resolved
B9 Hotel LLC
Entity
Free & Clear · 1 yrs held
Mailing address
3333 MICHELSON DR STE #430, IRVINE, CA 92612-5610
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2024
$10,600,000
B9 Hotel LLC
Cy Oakland LLC
Grant Deed
—
Oct 2, 2024
—
B9 Hotel LLC
Cy Oakland LLC
Deed
—
Oct 28, 2020
—
Cy Oakland Operator LLC
—
Deed
related
—
May 3, 2019
—
Cy Oakland LLC
—
Deed
related
$33,000,000 · Wells Fargo Bk
Feb 2, 2016
$43,800,000
Cy Oakland LLC
Cim Of Oakland Downtown LP
Grant Deed
—
Feb 2, 2016
—
Cy Oakland LLC
Cim Of Oakland Downtown Hotel LP
Grant Deed
related
—
Jun 12, 2007
—
Cim Of Oakland Downtown
Oakland Garden Hotel LLC
Quit Claim Deed
—
—
—
Cy Oakland LLC
—
Loan Modification
related
$33,000,000 · Wells Fargo Bk
—
—
Cy Oakland Operator LLC
—
Loan Modification
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.
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