Well located commercial property in high traffic location. Strong rents offering a 6.5% entry cap rate with annual rent increases raising the cap rate north of 7%. The property is currently fully leased to E-Entertainment, a restaurant/bar, entertainment, and pool hall venue. The building underwent expansion and renovations in 2011 and currently has a full commercial kitchen. There is parking in the front and rear of the building. The lot is approximately 38,000sf, with CR-1 Zoning and 160 foot height which also provides for future development potential.
Details
Property Class: Commercial for Sale
Listing Status: Active
City: Oakland
Area: Oakland
Subarea: Alameda County
County: Alameda
State: CA
Living Area (SqFt): 23000 sq. ft.
Year Built: 1961
Listing#: 435669
List Date: 7/1/2015
On Market Date: 7/3/2015
Class: Commercial
Property Subtype: Commercial For Sale
Approx Lot Size: 0.872
Documents/Disclosure: Prelim Title Report
Grs Sched Inc Incl: Rents
Types of Lease(s): Net
Parking/Garage: Private Lot, Secured