temescal north oakland

T E M E S C A L N O R T H OA K L A N D
PRIME DEVELOPMENT OPPORTUNITY
Offering Memorandum Presented By
STARBOARD TCN WORLDWIDE
Investment Advisory Group
33 New Montgomery Street, Suite 1490
San Francisco, CA 94105
5426-5440
TELEGRAPH AVE
O A K L A N D, C A
DISCLAIMER
This Offering Memorandum has been prepared to provide summary, unverified
information to prospective buyers, and to establish only a preliminary level of interest
in the subject property. The information contained herein is not a substitute for a
thorough due diligence investigation. Starboard TCN Worldwide has not made any
investigation, and makes no warranty or representation, with respect to income or
expenses for the subject property, future projected financial performance of property,
size and square footage of property and improvements, presence or absence of
contaminating substances, PCB's or asbestos, compliance with State and Federal
regulations, condition of improvements thereon, or financial condition or business
prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy
of subject property. The information contained in this Offering Memorandum has been
obtained from sources we believe to be reliable; however, Starboard TCN Worldwide
has not verified, and will not verify, any of the information contained herein, nor has
Starboard TCN Worldwide conducted any investigation regarding these matters and
makes no warranty or representation whatsoever regarding the accuracy or
completeness of the information provided. EACH PARTY SHALL CONDUCT ITS
OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. All potential buyers
must take appropriate measures to verify all of the information set forth herein.
FOR MORE INFORMATION PLEASE CONTACT:
SUSAN JORDAN
PRISCILLA WILDER
Broker Associate
Phone 415-595-1554
Fax 415-520-5943
[email protected]
CA BRE License: 01408046
Associate Agent
Phone 510-367-5355
Fax 415-956-2003
[email protected]
CA BRE#01903660
Starboard TCN Worldwide
33 New Montgomery Street, 1490
San Francisco, CA 94105
5426-5440
TELEGRAPH AVE
O A K L A N D, C A
5426-5440
TA B L E O F C O N T E N T S
AREA MAP
1
OFFERING SUMMARY
2
INVESTMENT HIGHLIGHTS
3
PROPERTY OVERVIEW
4
ASSESSOR’S MAP
5
FINANCIAL OVERVIEW
Tip Top Bike Shop
6-7
DOWNTOWN OAKLAND SOUTH AERIAL MAP
8
BERKELEY NORTH AERIAL MAP
9
TEMESCAL NEIGHBORHOOD
10
LOCAL TRANSPORTATION
11
NEARBY MERCHANTS
12
TEMESCAL DEVELOPMENTS
13
SALES COMPARABLES & MARKET LISTINGS
14-15
DEMOGRAPHICS
16-21
PROPOSAL GUIDELINES & CONTACTS
TELEGRAPH AVE
O A K L A N D, C A
Artisans & Merchant Center
22
Aunt Mary’s Café,
5426-5440
AREA MAP
TELEGRAPH AVE
O A K L A N D, C A
SAUSALITO
BELVEDERE
SAN FRANCISCO
TIBURON
ANGEL ISLAND
80
YERBA BUENA
ISLAND
TREASURE ISLAND
80
880
OAKLAND
80
WEST OAKLAND
580
EMERYVILLE
DOWNTOWN OAKLAND
ALAMEDA
880
BERKELEY
980
580
DOWNTOWN BERKELEY
UPTOWN OAKLAND
SUBJECT PROPERTY
LAKE MERRITT
Shattuck Ave
TEMESCAL
ROCKRIDGE
880
College Ave
UC BERKELEY
24
580
PIEDMONT
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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5426-5440
O F F E R I N G S U M M A RY
TELEGRAPH AVE
O A K L A N D, C A
Starboard TCN Worldwide as exclusive Agent, is pleased to
offer for sale 5426-5440 Telegraph Avenue. The property is
comprised of three adjacent parcels for a total of 18,500 square
feet (SF) located along Telegraph Avenue in North Oakland’s
hip and vibrant Temescal Neighborhood and bordering nearby
Rockridge Neighborhoods.
The property offers an exceptional opportunity for developers,
owner/users or investors. The zoning is CC-2 (Commercial
Community) and allows for a wide variety of commercial
opportunities to serve local neighborhood needs, as well as
other nearby communities.
Existing property improvements include a large parking lot,
Farmer’s Market
running through all three parcels; a two story four unit residential
apartment building; and a commercial/restaurant building
occupied by the owner’s business, Casper’s Hot Dogs.
Public Library
Bake Sale Betty’s
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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5426-5440
INVESTMENT HIGHLIGHTS
TELEGRAPH AVE
O A K L A N D, C A
Convenient Location: Located on the corner of
Demand for Market Rate Housing: Prospering
Telegraph Avenue and 55th Street, in vibrant
Temescal is in need of more housing. Rental rates
Temescal and 2 miles from UC Berkeley and
are increasing dramatically. Several new
Downtown Oakland.
development projects are already entitled and in
the pipeline. These developments will continue to
encourage future growth for the neighborhood.
Prime Redevelopment Site: Mixed-use
developments with residential and office uses
above retail businesses, are encouraged by
Oakland Planning Department. Height limit, 60 feet
(5 stories), street frontage 168 feet along Telegraph
Ave and 110 feet along 55th St.
Temescal Alley
Nearby Amenities: Temescal is known for its diverse
community, art galleries and phenomenal culinary scene. The
site is walking distance to many shops, art galleries and
numerous restaurants along Telegraph Avenue and nearby
Rockridge.
55th St & Telegraph Ave
Excellent Transportation: Easy access to Highway 24.
Excellent public transportation along Telegraph Avenue and
Shattuck Avenue via AC Transit lines 1, 1R, 18, 12, 800
AC Transit
(Night). Walking distance to Rockridge and Macarthur BART
stations.
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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5426-5440
P RO P E R T Y OV E RV I E W
Location
5426 – 5440 Telegraph Ave
Assessor Parcel Numbers/
Lot Area Square Feet (SF)
14-1225-24 (7,500 SF)
14-1225-25 (4,400 SF)
14-1225-01 (6,600 SF)
Total Lot Area
+/- 18,500 SF
Zoning
CC2 – Community Commercial
Height Limit
60 Ft (permitted)
Stories
5 (permitted)
Frontage
160 Feet along Telegraph Ave
110 along 55th St
Building - Commercial Restaurant
SF
Unit(s)
Stories
Built
5440 Telegraph Ave
1,235
1
1
1965
Building - Residential Quadruplex
SF
Unit(s)
Stories
Built
5426 Telegraph Ave
3,352
4
2
1952
Price
Best offer
Call for offers
To be announced.
TELEGRAPH AVE
O A K L A N D, C A
5440
14-1225-01
5432
14-1225-25
5426
14-1225-24
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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ASSESSOR’S MAP
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
5426-5440
TELEGRAPH AVE
O A K L A N D, C A
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5426-5440
D OW N TOW N OA K L A N D S O U T H
TELEGRAPH AVE
O A K L A N D, C A
Downtown Oakland
5526 – 5540 Telegraph
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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5426-5440
BERKELEY NORTH
Downtown Berkeley
TELEGRAPH AVE
O A K L A N D, C A
UC Berkeley
5526–5540 Telegraph
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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TEMESCAL NEIGHBORHOOD
5426-5440
TELEGRAPH AVE
O A K L A N D, C A
Temescal is Oakland’s hottest neighborhood. It has come a long way from its days of
being one of the world’s largest canneries. Today it is home to over 200 businesses as
well as a wide range of residents; college students, seniors, artists and working
professionals.
Locals have long enjoyed the great weather, vast culinary scene including many cafes,
bakeries and restaurants featuring eclectic cuisine from Spain, Japan, Ethiopia, Korea,
Burma, Italy and Mexico, to name a few. There is a strong sense of community here
reflected in the very popular weekly Sunday Farmer’s Market, weekly summertime
Temescal Street Cinema and annual Temescal Street Fair.
Local Merchants
Farmer’s Market
Temescal
Alley Alley
Temescal
Loft Housing
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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LO C A L T R A N S P O R TAT I O N
5426-5440
TELEGRAPH AVE
O A K L A N D, C A
Temescal is a bike-friendly neighborhood, has a walk
score of 90 and two BART (Bay Area Rapid Transit)
stations, MacArthur and Rockridge, within walking
51st St Highway Access
distance. The new AC Transit Rapid Bus Line takes
residents to UC Berkeley and Downtown Oakland in less
than 10 minutes. Easy access to highways 24, 980, 580
and BART’s new service to Oakland International Airport
provides fast convenient travel amenities. Ease of
transportation is crucial as many residents living in the
Bike Friendly
neighborhood commute to other cities throughout the
Bay Area.
Walk Score 90
MacArthur BART Station
AC Transit Rapid Bus Lines
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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5426-5440
N E A R B Y M E RC H A N T S
TELEGRAPH AVE
O A K L A N D, C A
5426-5440 Telegraph
TEMESCAL
EMERYVILLE
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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T E M E S C A L D E V E LO P M E N T S
5426-5440
TELEGRAPH AVE
O A K L A N D, C A
As the burgeoning tech industry continues to expand in the Bay Area, demand for
market rate housing in desired neighborhoods, such as Temescal, will continue to rise,
thus translating into higher housing costs. Oakland rents have increased 12.1 percent
over the last year, second only to Denver.
Major employers expanding and contributing to the local economy’s growth include,
Uber, Kaiser Permanente, Alta Bates Summit Medical Center, UCSF Benioff Children’s
Hospital, Southwest Airlines, FedEx, Wells Fargo, AT&T, Clorox, California College of
the Arts, Pandora, UC Berkeley, Lawrence Berkeley National Lab, Pixar, Leap Frog,
Novartis, Peet’s Coffee, Cliff Bar, to name a few.
Several mixed-use housing developments in Temescal are currently in the works.
Together they comprise 391 residential units and 22,000 square feet of
retail/commercial space.
SRM Development LLC plans to build a multi-family complex on the border of
Temescal and Rockridge neighborhoods. Temescal Apartments, a 130-unit
proposed project, will come with 8,000 square feet of retail space, including a
rooftop courtyard, theater room, fitness facility, a bike repair and maintenance shop.
Nautilus Group plans to move forward on a proposed project at 5100 Telegraph
Avenue that is entitled for 169 units. Other projects include 4700 Telegraph Avenue
entitled for 48 units and 4801 Shattuck Avenue entitled for 44 units.
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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P RO P O S A L G U I D E L I N E S
5426-5440
TELEGRAPH AVE
O A K L A N D, C A
All proposals must be based on “AS IS AND WITH NO FAULTS” and “WHERE
IS” condition. The Seller will only consider proposals submitted by invitation from
the Seller or its exclusive agent, Starboard Commercial Brokerage, Inc. The
Seller reserves the right to reject any or all proposals, or withdraw this offering at
any time without notice. Seller reserves the right to choose and negotiate
exclusively with any party at any time. The Seller also reserves the right to agree
to any terms and conditions at Seller’s sole discretion.
Call for offers deadline will be announced.
All proposals shall be submitted with escrow to be opened with
Fidelity National Title Company
50 California Street, #3550
San Francisco, CA 94111
Attn: Rita Lin, Vice President, Branch Manager
Ph. 415-837-2312
E-Mail: [email protected]
Due diligence materials will be made available as we receive them. All inquiries
and requests are to be directed and submitted to Susan Jordan or Priscilla Wilder
of Starboard Commercial Brokerage, Inc., exclusive agents of the seller.
SUSAN JORDAN
Broker Associate
Phone 415-595-1554
Fax 415-520-5943
[email protected]
CA BRE License: 01408046
PRISCILLA WILDER
Associate Agent
Phone 510-367-5355
Fax 415-956-2003
[email protected]
CA BRE#01903660
Starboard TCN Worldwide
33 New Montgomery Street, 1490
San Francisco, CA 94105
Th e in fo r ma tio n h a s b e e n s e c u r e d b y Sta r b o a r d TC N W o r ld w id e fr o m s o u r c e s b e lie v e d to b e r e lia b le . It is n o t g u a r a n te e d , h o w e v e r , a n d s h o u ld b e v e r ifie d p r io r to c o n s u mma tin g a n y tr a n s a c tio n .
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