8th and Alice

• Photos

Location

• Address: 251 8TH ST, OAKLAND 94607
• Two blocks from Lake Merritt BART
• Four blocks from Broadway
• In Chinatown
• Chinese grocery on 1st floor
• Restaurant (Chinese?) on 1st floor. ~$8 entrees.

Tax

• Parcel number: 1-185-18

• Property tax: $4,440 secured + $4,597 supplemental = $8,997
• Assuming one floor is 1/3 of that tax: $2,999 yearly or $250 monthly

• assessment info source
• tax history

Building and fire insurance

We heard that the building/fire insurance for The Omni is only $500 a month. That seems _really_ low for such a big space. We need to get a quote, but for now let's assume $500 for one floor.

3rd floor

• Larger than 2nd floor
• Rooftop access

Amenities

• Sink in main space
• Lots of natural light
• Three bathrooms

One big enough that it could be made ADA accessible.

• Elevator

Not ADA compliant but can possibly be grandfathered in as ADA compliant? Big enough for wheelchair to drive in and back out

Costs

• Floor plan total: 5,425 sqft
• Floor plan total minus elevator/stairways: maybe ~5,000 sqft
• Price: 90 cents per sqft nnn.
• Creative Development Partners IG cost estimate (on top of nnn): $0.25 to $0.50 per sqft
• Our IG cost estimate: $250 tax monthly + maybe $500 building/fire insurance monthly
• Total cost estimate with CDP: $5,750 to $7,000
• Total cost estimate with ours: $5,250

2nd floor

• Smaller than 3rd floor

Acupuncturist has his office there + some space lost to shared hallway.

• Shared bathroom between acupuncturist and whoever leases the main space.
• Stair access to ground floor.
• No rooftop access.

Rooftop

• Accessible via stairs from 3rd floor
• Needs to be tested for structural integrity / leaks.

The CDP (leasers) will find out if the rooftop is usable. They are interested in making it a usable space. This would be an awesome space for outdoor events during the summer. Unfortunately no elevators go there and the stairs are narrow.