Fully Built Commercial Kitchen | NNN Opportunity
Industrial | 7.57% CAP | 12,278 SqFt
Marketing description
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.
2321 Filbert Street is more than just a leased asset—it’s a purpose-built food production hub anchored by a dedicated operator in a thriving Bay Area market. With stable cash flow today, scheduled growth tomorrow, and a mission-critical tenant, this investment offers buyers both attractive yield and security. The rarity of a turnkey commercial kitchen of this caliber, combined with a reliable tenant and a NNN lease, makes this one of the safest and most compelling investment opportunities available in the Bay Area today.
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.
NNN Structure: Provides predictable passive income.
High Replacement Cost Build-Out: Extensive capital invested in infrastructure—difficult and costly to replicate.
Tenant Mission Criticality: The facility is indispensable to Always Fishing Inc.’s business, increasing long-term occupancy security.
Growth Market: Located in one of the Bay Area’s most dynamic, expanding urban centers.
1031 Exchange Ready: Strong yield, simple lease structure, and growth trajectory make this an ideal replacement property.
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