116 Washington AveRichmond, CA 94801

Property Details for 116 Washington Ave

Year built

1989

Lot size

0.07 AC

Property size (Sq ft)

4,535 SF

Zone code

C2 CD

Property type

Office buildings

APN

558-140-003-2

APU

5581400032

Description

This exceptional investment opportunity encompasses two adjacent commercial properties located at 116 and 124 Washington Avenue in the desirable Point Richmond area of Richmond, California. The properties, totaling 4,535 square feet on a 0.07-acre lot, are available for purchase individually or as a combined package. The buildings, constructed in 1989 and 1991 respectively, boast historically high occupancy rates and low operational costs, making them an attractive proposition for income-seeking investors. 124 Washington Avenue features sixteen meticulously maintained office units, offering a diverse range of sizes to accommodate various business needs. The adjacent property at 116 Washington Avenue comprises five similarly well-maintained office units, providing further flexibility for potential tenants. Both buildings are known for their durable construction and enduring value. The asking price for the entire complex is $1,250,000. Attractive seller financing is available with a 4.0% interest rate, making this an even more compelling investment opportunity. This property presents a rare chance to acquire a stable, income-generating asset in a thriving commercial district.

• CAP approach

  CAP return

  Valuation

  6%

  $1,410,070

  6.5%

  $1,301,600

  7%

  $1,208,630

• Comparable approach

  Method

  Valuation

  Relative Method

  $832,156

  Geo Method

  $1,264,860

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,474,370

  Retail / Commercial

  $1,286,110

  Mixed-Use / Specialty

  $1,295,130

  Hospitality / Lodging

  $967,903

  Institutional / Educational

  $1,351,270

  Residential Income

  $1,580,990

  Multifamily

  $1,820,740

  Automotive / Energy

  $1,158,230

  Parking / Income-Based Land

  $386,253

  Restaurant / Food Service

  $702,636

  Healthcare / Senior Housing

  $1,314,180

Location Insight

City

Richmond

County

Contra Costa

State

California

Latitude

37.9271

Longitude

-122.385

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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