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    988 Broadway Oakland, CA 94607
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    988 Broadway, Oakland, CA 94607

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    • Hotels
    • 96,300 SF
    • 0.86 lot acres
    For Lease
    $10,600,000
    View Listing →
    Micro-Retail Units in Downtown Oakland For Lease
    $10,600,000
    251 SF

    Micro-Retail Units in Downtown Oakland

    Two small retail units in a 160-room hotel.

    988 Broadway, Oakland, CA
    View Listing
    Property ID
    US09-6778050
    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
    $10,600,000
    Cap Rate Potential
    2.8%
    Hotels
    Location Intelligence

    Current Use by 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

    Property Details for 988 Broadway

    Year built
    2002
    Construction
    WOOD
    Lot size
    0.86 lot acres
    Property type
    Hotels
    APN
    2-96-3
    APU
    2963

    Sales History

    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 $33M · 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 $33M · Wells Fargo Bk
    — — Cy Oakland Operator LLC — Loan Modification · related —

    Description

    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

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,600,000
      ML approach
      $10,600,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Alameda
    State
    California
    Longitude
    -122.273
    Latitude
    37.8011
    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
    $637,975
    $26,100,000
    $18,546,806
    $44,646,806
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $570,000
      14,100 SF

      528 8th St

      HOTEL
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      View Details
    • Value Estimation by Request
      6,750 SF

      381 8th St

      HOTEL
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      View Details
    • Value Estimation
      $890,000
      26,896 SF

      392 11th St

      HOTEL
      392 11th St, Oakland, CA 94607-4229
      View Details
    • Value Estimation
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      21,621 SF

      493 10th St

      HOTEL
      493 10th St, Oakland, CA 94607
      View Details
    • Value Estimation
      $565,000
      15,190 SF

      801 Washington St

      HOTEL
      801 Washington St, Oakland, CA 94607-4029
      View Details
    • Value Estimation by Request
      8,699 SF

      271 12th St

      HOTEL
      271 12th St, Oakland, CA 94607-4440
      View Details

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      Oakland Motel Investment Opportunity

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      Oakland Assisted Living Development Opportunity

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      6,923 SF

      Oakland Commercial Space Available

      Commercial space available for rent in Oakland, California.
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      Modern Urban Office Loft Unit

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      Oakland Office Space Available

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    View Listing
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    Oakland, CA 94607
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    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.

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