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116 Washington Ave
Richmond, CA 94801
Office Property For Sale
Investment Highlights
- Prime Location: Central Point Richmond Spot for Convenient Access
- Proven Track Record of Strong Tenant Demand
- Versatile Suites: Accommodating Spaces for Businesses of All Sizes
- Well Maintained, Attractive and Modern Five Unit Property
- Low Costs, Minimal Operational Expenses
- Community Hub: Surrounded by Thriving Retail and Dining Options
Executive Summary
Pacific West Advisory Group is happy to present 116 Washington Street, a prime investment opportunity in the heart of Point Richmond. This well-maintained 4,535 SF office property, constructed in 1991, is comprised of five individual office suites and is currently 80% occupied with a strong history of tenant demand.
The building exudes durability and longevity, standing as a testament to quality craftsmanship and enduring value. Historically high occupancy rates and low operational costs make this asset a solid choice for investors seeking stable, income-generating property with long-term growth potential.
Offered at $975,000 ($215/SF), the property provides a 7.0% current cap rate and 8.1% pro forma cap rate, delivering reliable in-place income with additional upside through lease-up and market rent growth. Flexible suite configurations accommodate a variety of professional users, allowing tenants to find workspace tailored to their unique needs.
Beyond its attractive features, 116 Washington Street offers a rare opportunity to tap into the vibrant energy of Point Richmond’s commercial hub. The property benefits from walkable access to local retail and dining, a thriving business community, and convenient proximity to major transportation routes—positioning it for continued success and appreciation.
The building exudes durability and longevity, standing as a testament to quality craftsmanship and enduring value. Historically high occupancy rates and low operational costs make this asset a solid choice for investors seeking stable, income-generating property with long-term growth potential.
Offered at $975,000 ($215/SF), the property provides a 7.0% current cap rate and 8.1% pro forma cap rate, delivering reliable in-place income with additional upside through lease-up and market rent growth. Flexible suite configurations accommodate a variety of professional users, allowing tenants to find workspace tailored to their unique needs.
Beyond its attractive features, 116 Washington Street offers a rare opportunity to tap into the vibrant energy of Point Richmond’s commercial hub. The property benefits from walkable access to local retail and dining, a thriving business community, and convenient proximity to major transportation routes—positioning it for continued success and appreciation.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
4,850 SF
Building Class
C
Year Built
1991
Price
$975,000
Price Per SF
$201.03
Cap Rate
7%
NOI
$68,250
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,425 SF
Building FAR
1.59
Lot Size
0.07 AC
Zoning
C2 CD
Parking
10 Spaces (2.21 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 558-140-003-2 | Improvements Assessment | $579,527 |
| Land Assessment | $211,565 | Total Assessment | $791,092 |
Property Taxes
Parcel Number
558-140-003-2
Land Assessment
$211,565
Improvements Assessment
$579,527
Total Assessment
$791,092
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