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2321 Filbert St 12,278 SF Industrial Building Oakland, CA 94607 $4,650,000 ($378.73/SF) 7.57% Cap Rate
INVESTMENT HIGHLIGHTS
- Attractive Yield: 7.57% in-place year 1 cap rate with scheduled growth to 7.70% and a blended ~8.05% return over the remaining lease.
- High Replacement Cost Build-Out: Extensive capital invested in infrastructure—difficult and costly to replicate.
- Growth Market: Located in one of the Bay Area’s most dynamic, expanding urban centers.
- NNN Structure: Provides predictable passive income.
- Tenant Mission Criticality: The facility is indispensable to Always Fishing Inc.’s business, increasing long-term occupancy security.
- 1031 Exchange Ready: Strong yield, simple lease structure, and growth trajectory make this an ideal replacement property.
EXECUTIVE SUMMARY
2321 Filbert Street represents a rare investment opportunity: a fully improved, turnkey chef’s kitchen and catering production facility in the heart of Oakland. Leased to Always Fishing Inc., a seasoned operator with a strong foothold in the culinary and catering sector, the property offers stable cash flow, a high replacement cost build-out, and long-term market relevance.
The existing lease provides an attractive 7.57% year 1 cap rate, with scheduled rent increases elevating the return to 7.70% in 2026. Averaged across the remaining term, investors benefit from a blended return of ~8.05%—a yield rarely available in today’s Bay Area market for stabilized assets. This means that buyers get not just steady income now, but also increasing returns in the near future, making this a safe and predictable investment.
The existing lease provides an attractive 7.57% year 1 cap rate, with scheduled rent increases elevating the return to 7.70% in 2026. Averaged across the remaining term, investors benefit from a blended return of ~8.05%—a yield rarely available in today’s Bay Area market for stabilized assets. This means that buyers get not just steady income now, but also increasing returns in the near future, making this a safe and predictable investment.
PROPERTY FACTS
| Price | $4,650,000 | Lot Size | 0.26 AC |
| Price Per SF | $378.73 | Rentable Building Area | 12,278 SF |
| Sale Type | Investment NNN | No. Stories | 2 |
| Cap Rate | 7.57% | Year Built | 1929 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Clear Ceiling Height | 18’ |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | CC-2 and RM-2 - Light Industrial | ||
| Price | $4,650,000 |
| Price Per SF | $378.73 |
| Sale Type | Investment NNN |
| Cap Rate | 7.57% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.26 AC |
| Rentable Building Area | 12,278 SF |
| No. Stories | 2 |
| Year Built | 1929 |
| Tenancy | Single |
| Clear Ceiling Height | 18’ |
| Opportunity Zone |
Yes |
| Zoning | CC-2 and RM-2 - Light Industrial |
AMENITIES
- Cooler
- Floor Drains
UTILITIES
- Water - City
- Sewer - City
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Always Fishing Inc.
- Accommodation and Food Services
- -
- -
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Lorem Ipsum
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Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Always Fishing Inc. | Accommodation and Food Services | - | - | Lorem Ipsum | Jan 0000 |
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Walk Score®
Walker's Paradise (90)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 005-0429-009-01 | Improvements Assessment | $2,119,450 |
| Land Assessment | $1,115,500 | Total Assessment | $3,234,950 |
PROPERTY TAXES
Parcel Number
005-0429-009-01
Land Assessment
$1,115,500
Improvements Assessment
$2,119,450
Total Assessment
$3,234,950
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2321 Filbert St
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