1500 Broadway in Oakland California is a 70% 4-story mixed-use office building comprising 92,570 SF. Built in two phases with the separate addresses and entrances the buildings are connected with different exterior architecture. The property has a variety of tenant types including 20.3% of the areas as ground floor retail with general and medical offices in the three floors above. The property qualifies for governmental uses and houses a large government user which occupies 26% of the building or 33% of the office area above the retail space. A variety of prospective tenants have expressed interest in the remaining space and new owners can create value rapidly through such pursuits.

 

Price:                                $10,600,000,   $115 psf  -  a deep discount to replacement

Near-Term Occupancy:      70%,   -   with stable lease terms for two years plus

Replacement Cost Est.:     $250 - $275 psf

Land:                                .5457 acres

Parking:                            48+- subterranean Spaces

Year Built:                         1923, 1975, then renovated 1985

A.P.N.                                008-0062-005-01

Zoning:                             C55-S8

 

70% Occupancy; 7.5% Yr-1 cap rate; 11.4% cap rate Yr-2

26% Government / Credit tenant occupancy

Deep discount to asset replacement costs

Rare underground secured parking

Diversified income from retail, office, dental and government tenancies

Asset on major transit lines including BART train station within 2 blocks