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Key Details
Sold Price $1,150,000
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Sold
Purchase Type For Sale
Square Footage 2,789 sqft
Price per Sqft $412
Subdivision Emeryville
MLS Listing ID 41032677
Sold Date 10/24/23
HOA Y/N No
Year Built 2005
Lot Size 915 Sqft
Acres 0.08
Property Description
NNN Investment Opportunity with In-Place CAP rate of 6.6% Annual 3% Increase in Lease. Newer 3 Contiguous Ground Floor Retail Commercial Condo units located in Excellent Emeryville Retail District. Great Visibility from High Traffic Count San Pablo Ave/40th St over 135,000 daily. Retail space is ground floor facing San Pablo Ave. w/125 Residential condos above. 2942sf contiguous and can be individually sold/rented into 3 units retail storefront consisting of (Ste H )939sf, (Ste I)945sf, and(Ste J) 920sf or rented out jointly. There are 2 recently constructed ADA approved restrooms, 3 separate HVAC system. 91 customer parking spaces designated for the retail shops. Across the Street from East Bay Bridge Shopping Center with National Retailer Target, Pak N Save(Safeway), Home Depot, Nordstorm Rack. Near major tech hub(Pixar), along Emery Go-Round route, easy access to freeway on and off ramp. Ste H, I, and J. Flexible Located on one of the busiest retail/commercial street in the east bay. Currently leased to one single tenant who has been operating for the past 5 years and had just exercised an option to extend the lease for additional 5 years through Feb 2029. Currently Lease include an annual 3% increase per year for the next 5 years.
Location
State CA
County Alameda
Area Emeryville
Zoning COM
Interior
Heating Heat Pump
Cooling Central Air
Flooring Concrete
Fireplace No
Exterior
Utilities Available Electricity Connected, Separate Meter, All Public
Building
Lot Description Business District, Neighborhood Commercial, Restaurant Nearby, Shopping Center Nearby, Shopping Nearby
New Construction No
Others
Tax ID 49154611
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with StevenWang
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Parisa Samimi
Founder & Real Estate Broker | License ID: 01858122
Founder & Real Estate Broker License ID: 01858122