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12249 San Pablo Ave 4,250 SF Retail Building Richmond, CA 94805 $1,395,000 ($328.24/SF) 7.04% Cap Rate
Investment Highlights
- Absolute NNN Leased Investment Property
- Tenant recently invested significant monies in the business and property, demonstrating a strong commitment to this location
- Occupied by a grocery store since 1971
- Now transparently offered at a starting CAP rate of 7%
Executive Summary
This rare single-tenant, absolute NNN leased investment property offers a unique opportunity in the Bay Area. Occupied by a well-established grocery store since 1971, the property benefits from a long operating history and a proven location. Positioned on highly traveled San Pablo Avenue (CA State Route 123), it enjoys outstanding visibility and excellent exposure to strong daily traffic counts. The property is conveniently located just one block from the I-80 on/off ramps and features an off-street parking area with access from both San Pablo Avenue and Wilson Avenue. The tenant has also recently made significant investments in both the business and the property, demonstrating a strong long-term commitment to this location.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront
Building Size
4,250 SF
Building Class
C
Year Built
1946
Price
$1,395,000
Price Per SF
$328.24
Cap Rate
7.04%
NOI
$98,198
Tenancy
Single
Building Height
1 Story
Building FAR
0.42
Lot Size
0.23 AC
Zoning
C2 - General Commercial District
Parking
10 Spaces (2.47 Spaces per 1,000 SF Leased)
Frontage
70’ on San Pablo Ave
Fairly walkable
50/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 517-100-026-7 | Improvements Assessment | $438,852 |
| Land Assessment | $245,166 | Total Assessment | $684,018 |
Property Taxes
Parcel Number
517-100-026-7
Land Assessment
$245,166
Improvements Assessment
$438,852
Total Assessment
$684,018
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12249 San Pablo Ave
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