735 Webster St, Oakland, CA 94607; Retail for Sale; D-19 in Alameda County
735 Webster St, Oakland, CA 94607; Retail for Sale; D-19 in Alameda County
735 Webster St, Oakland, CA 94607
Oakland Chinatown Mixed-Use
Retail Property For Sale
- Price:
- $5,900,000
- Building Size:
- 10,960 SF
- Price/SF:
- $538.32
- Property Type:
- Retail
- Property Sub-type:
- Retail (Other)
- Property Use Type:
- Investment
- Commission Split:
- 2%
- Cap Rate:
- 4.90%
- No. Stories:
- 2
- Tenancy:
- Multiple
- Year Built:
- 1927
- Lot Size:
- 0.13 AC
- Listing ID
- 18716494
-
Highlights
- High Traffic Pedestrian & Vehicle Corner
- Irreplaceable Location
- Many Possible Permitted Uses Inc. Financial Services, General Retail & Food Sales
- Possible Multifamily on Second Floor
- Upside in Income
Description
The mixed-use property at 735 Webster St is located in the heart of Oakland’s Chinatown at the very busy, high traffic corner of Webster and 8th Streets. There are two street level retail spaces and five commercial spaces on the second floor. The largest of the two street level spaces is a fully built out +-5,672 retail space previously occupied by East West Bank. East West continues to pay rent on this space through early 2015.
The second floor includes five separate spaces, three of which are currently occupied. Many possibilities exist to improve and update the second floor in order to increase income, including converting the upstairs to multifamily residential, as well as other commercial uses.
The property is located within the Lake Merritt Area Plan Boundary and is zoned CBD-P/CH (Central Business District Pedestrian Retail Commercial Zone). There are many possible permitted commercial uses for the ground floor retail, including financial services, health care, group assembly as well as general retail and food sales.
CALL FOR SHOWING DAYS AND TIMES
The property is located in the heart of Chinatown at one of, if not the busiest pedestrian traffic intersections in the entire City of Oakland. A constantly bustling center of activity, Oakland’s Chinatown’s open-air markets display everything from live fish to imported ceramics. This location affords easy access to Downtown Oakland, Jack London Square and the Lake Merritt areas of Oakland. Both the 12th St Oakland/City Center & Lake Merritt BART stations are a short four to five block walk, and proximity to highway 880 is excellent for vehicle travel to all parts of the Bay Area.
