8th and Alice
- Address: 251 8TH ST, OAKLAND 94607
- Two blocks from Lake Merritt BART
- Four blocks from Broadway
- In Chinatown
- Small Chinese grocery on 1st floor and a bigger grocery one block away.
- Restaurant (Chinese?) on 1st floor.
- ~$8 entrees. Other people viewing the space say it's really good.
- 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
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.
- Larger than 2nd floor
- Rooftop access
- Sink in main space
- Lots of natural light
- Three bathrooms
- One big enough that it could be made ADA accessible.
- Not ADA compliant but can possibly be grandfathered in as ADA compliant? Big enough for wheelchair to drive in and back out
- 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
- 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.
- 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.