3666 Grand AveOakland, CA 94610

Property Details for 3666 Grand Ave

Year built

1961

Property size (Sq ft)

10,070 SF

Property type

Office properties

Property subtype

Other office properties

Description

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.

Location Insight

City

Oakland

County

Alameda

State

California

Latitude

37.8162

Longitude

-122.246

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