1001 24Th St Oakland, CA 94607

This exceptional 12,260-square-foot flex/warehouse property, located at 1001 24th Street in Oakland, California, presents a compelling investment opportunity. Boasting a desirable location in Alameda County (zip code 94607), this vacant property is available for sale at $4,780,000, representing a 7.49% cap rate. The building, constructed in 1929 and zoned RM-2, sits on a 0.26-acre lot (APN 005-0429-009-01). Features include a 20-foot clear ceiling height and a fully equipped commercial kitchen space, complete with three walk-in coolers and one walk-in freezer. The property also benefits from a solar roof system. The lease terms, should a tenant be sought, are a triple net (NNN) lease commencing May 31, 2024, and expiring May 30, 2030, with a 4% annual rent increase. This property offers a unique blend of industrial functionality and modern amenities, making it ideal for a variety of uses. The net rentable square footage is 12,260 square feet, with a price per square foot of $390. The property's prime location and versatile design make it an attractive investment for discerning buyers seeking a strong return. The 48-inch hood in the commercial kitchen is a significant asset for food-related businesses.