1625 Shattuck Avenue, Berkeley, CA 94709; Office Building for sale; B-1 in Alameda County
1625 Shattuck Avenue, Berkeley, CA 94709; Office Building for sale; B-1 in Alameda County
| Property Details | |
|---|---|
| Price |
$8,795,000
|
| Building Size |
27,155 SF
|
| Lot Size |
0.28 AC
|
| Price/SF |
$323.88 /SF
|
| Property Type |
Office
|
| Property Sub-type |
Office Building
|
| Property Use Type |
Investment
|
| Commission Split |
1.50%
|
| Cap Rate |
6.03%
|
| Occupancy |
100%
|
| Building Class |
B
|
| Tenancy |
Multiple
|
| Tax ID/APN |
058-2178026
|
| Status |
Active
|
Property Description
We are proud to offer for sale this prestigious North Berkeley property, which is a very popular destination for local commercial tenant. 1625 Shattuck is a three-story mixed-use commercial building, which features a combined five office suites on the second and third floors along with two retail/office storefront spaces on the ground floor. The building contains a total rentable area of approximately 27,155 square feet as well as 17 covered parking spaces in the first-floor gated garage. 1625 Shattuck is being offered at a viable cap-rate, while also being situated in Berkeley’ s premier commercial district, wherein rents for office and retails spaces sit amongst the top, city-wide. The occupancy rate has rested at 100% for the past three years, during which time multiple tenants have sought renewals at impressive rents. The current leases are long-term and provide consistent contract rent for several upcoming years. Contact broker for full offering memorandum.
Location Description
The very limited amount of office space in the North Berkeley / Gourmet Ghetto commercial district creates a very advantageous supply and demand equation for the owner of this property. With very few competing properties in the immediate vicinity, 1625 Shattuck has proved capable of withstanding significant fluctuations in the market. Contact broker for full offering memorandum.
