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Key Details
Sold Price $1,150,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 41032677
Sold Date 10/24/23
HOA Y/N No
Year Built 2005
Annual Tax Amount $8,223
Lot Size 3,484 Sqft
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
Zoning COM
Interior
Fireplace No
Exterior
Utilities Available Water Available
Total Parking Spaces 91
Others
Tax ID 49154611
Financing Conventional
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Bought with Steven Wang • CA Golden Properties
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960