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10690 San Pablo Ave 9,760 SF Office Building El Cerrito, CA 94530 $5,178,016 ($530.53/SF) 6% Cap Rate
Investment Highlights
- Core Location – The property is centrally located in El Cerrito, positioned off San Pablo Avenue in the Moeser Lane Shopping Center.
- Nearby national retailers include O'Reilly Auto Parts, Firestone, 24 Hour Fitness, Exxon, and more.
- Operating at this location since 1995, the clinic has renewed multiple times, most recently exercising a five-year option in 2023.
- The location offers exceptional visibility and frontage, with roughly 138,000 residents within a three-mile radius.
- The tenant pays just $31/SF, significantly below both the El Cerrito market and DaVita's California average.
- The clinic operates approximately 20 chairs, 6 days a week from 5:00AM – 6:00PM, indicating strong patient demand and occupancy levels.
Executive Summary
Matthews™ is pleased to present a rare opportunity for qualified investors to acquire a single-tenant dialysis center in El Cerrito, CA, leased to DaVita Dialysis, one of the nation's largest kidney care providers with more than two decades of clinical excellence. Strategically positioned off San Pablo Avenue in the Moeser Lane Shopping Center, the tenant has been at this location since 1995 and today operates approximately 20 chairs, 6 days a week, underscoring both long-term tenant success and strong patient demand.
The location offers exceptional visibility and frontage, with roughly 138,000 residents within a 3-mile radius and a strong lineup of national retailers nearby, including O'Reilly Auto Parts, Firestone, 24 Hour Fitness, Exxon, and more. The lease features below-market rent with annual CPI increases and roughly 2.3 years of remaining term with no renewal options, giving an investor a rare chance to negotiate an extension directly with DaVita or reposition the site for a new long-term lease.
With a DaVita corporate guaranty standing behind the NNN lease, investors benefit from the credit strength of a leading national healthcare provider during the remaining term, plus clear upside on extension or re-lease.
The location offers exceptional visibility and frontage, with roughly 138,000 residents within a 3-mile radius and a strong lineup of national retailers nearby, including O'Reilly Auto Parts, Firestone, 24 Hour Fitness, Exxon, and more. The lease features below-market rent with annual CPI increases and roughly 2.3 years of remaining term with no renewal options, giving an investor a rare chance to negotiate an extension directly with DaVita or reposition the site for a new long-term lease.
With a DaVita corporate guaranty standing behind the NNN lease, investors benefit from the credit strength of a leading national healthcare provider during the remaining term, plus clear upside on extension or re-lease.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
9,760 SF
Building Class
C
Year Built
1967
Price
$5,178,016
Price Per SF
$530.53
Cap Rate
6%
NOI
$310,681
Tenancy
Single
Building Height
1 Story
Typical Floor Size
7,901 SF
Building FAR
0.34
Lot Size
0.65 AC
Zoning
C2
Parking
30 Spaces (3.8 Spaces per 1,000 SF Leased)
Fairly walkable
50/100
Exceptionally drivable
90/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 503-122-023-8 | Improvements Assessment | $1,107,324 |
| Land Assessment | $979,075 | Total Assessment | $2,086,399 |
Property Taxes
Parcel Number
503-122-023-8
Land Assessment
$979,075
Improvements Assessment
$1,107,324
Total Assessment
$2,086,399
Contacts
-
Alex Larramendi -
Brett Baumgartner -
Josh Bishop -
Matthews Real Estate Investment Services
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