1763 Alcatraz AveBerkeley, CA 94703

Property Details for 1763 Alcatraz Ave

Year built

1919

Construction

TILT-UP CONCRETE

Lot size

0.05 AC

Property size (Sq ft)

1,455 SF

Property type

Retail properties

Property subtype

Retail space

APN

52-1531-7

APU

5215317

Description

This exceptional retail property at 1763 Alcatraz Avenue in Berkeley, California, presents a lucrative investment opportunity. Situated on a 0.05-acre lot, the building boasts a substantial recent upgrade. A complete seismic retrofit utilizing a steel frame ensures structural integrity and longevity. The property currently houses a restaurant and a brewery, both benefiting from extensive tenant improvements completed in 2013. These improvements encompass a comprehensive renovation of the interior, including new restrooms, plumbing, and electrical systems. Further enhancing the property's value, the roof was entirely replaced in 2016, minimizing future maintenance concerns. The current tenants operate on a month-to-month lease agreement, contributing to the property's flexibility. A notable aspect of the lease structure is that tenants share responsibility for a portion of the insurance and tax expenses, reducing the overall financial burden on the owner. This turnkey operation offers immediate income generation and significant upside potential for a savvy investor seeking a well-maintained, strategically located retail asset in the vibrant Berkeley market. The property's strong foundation, recent renovations, and established tenancy make it an attractive proposition for those seeking a stable and profitable investment. The asking price is $1,100,000.

• CAP approach

  CAP return

  Valuation

  6%

  $590,212

  6.5%

  $544,811

  7%

  $505,896

• Comparable approach

  Method

  Valuation

  Relative Method

  $780,761

  Geo Method

  $1,022,651

• Alternative Use

  Use

  Valuation

  Residential

  $459,569

  Hospitality

  $420,963

  Educational

  $350,236

  Medical

  $362,281

  Retail

  $544,811

Location Insight

City

Berkeley

County

Alameda

State

California

Latitude

37.8488

Longitude

-122.272

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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