2939 Summit Street, Oakland, CA 94612

2939 Summit Street contains two separate parcels; one commercial medical office building of approximately 4,770 square feet built in 1969, and one perpendicular surface parking lot of approximately 6,098 square feet. The total land square footage of this "L" shaped assembly is 9,147 square feet. The zoning of CC-2 allows permitted medical uses as well as residential. This site is a multi-faceted opportunity for an owner/user who wants to remodel the existing property for its own use or do a ground up development.

Economic diversity leaves the East Bay less dependent on any one industry to drive economic growth. The East Bay is home to the Port of Oakland, one of the busiest ports in the U.S., and a central economic force in the metro. In addition, the East Bay is hub to major operations for a diverse set of large corporations, including major healthcare players such as, Kaiser Permanente and Sutter Health.

Bay Area multi-family development has cooled down after a boom pre-pandemic because of interest rates. Developers are still searching for their project for the next 'cycle'; however, cost of land is depressed from the high points of a few years ago.