For Sale
$2,950,000

3666 Grand AveOakland, CA 94610

Grand Lake, 10,070 SF Office, 6.7% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Oakland office building presents a compelling value-add opportunity for owner-users or investors. Located in the desirable Grand Lake neighborhood at 3666 Grand Ave, this two-story, 10,070 square foot building sits on a 9,875 square foot lot and features 13 parking spaces. Currently boasting a 64% occupancy rate with three tenants on short-term leases, approximately 3,660 square feet of vacant space offers significant upside potential. The property, built in 1961, is classified as Class C and operates under a gross lease structure. The asking price is $2,950,000, translating to $292.95 per square foot, with a pro-forma NOI of $197,614 and a pro-forma cap rate of 6.70%. The property is zoned CN-3 and offers convenient access to I-580, along with nearby shopping and dining. This is a rare chance to acquire a property that has not been on the market for 50 years, making it an attractive investment in a thriving Oakland community. The building consists of five units across two stories. This is an excellent opportunity to capitalize on the existing tenancy while simultaneously developing the vacant space to meet individual needs.

Highlights

  • $2,950,000 asking price for a 10,070 square foot office building.
  • Located at 3666 Grand Ave, Oakland, CA 94610, in the Grand Lake neighborhood.
  • Traditional office building, Class C, with 13 parking spaces.
  • 10,070 square feet, two stories, built in 1961, on a 9,875 square foot lot.
  • Multi-tenant building (3 tenants), 64% occupancy, gross lease type.
  • Owner-user or value-add opportunity with approximately 36% vacancy.

Property Details for 3666 Grand Ave

Property type
Office properties
Square Feet
10,070 SF
Class
C
Year Built
1961
Buildings
1
Stories
2
Units
5

Location Insight

City
Oakland
County
Alameda
State
California
Latitude
37.816222401138
Longitude
-122.24560444808
3666 Grand Ave, Oakland, California

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3666 Grand Ave
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