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Velvet Building Napa 2441-2449 2nd St 5,140 SF 77% Leased Retail Building Napa, CA 94559 $5,400,000 ($1,050.58/SF) 6.14% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully Leased 5,140 s.f. Buidling newly renovated.
- Successful Business Operater with 3% annual increases and expected occupancy through 2038
EXECUTIVE SUMMARY
Fully Leased Building on a NNN basis in World Famous Napa Valley boasting 3.5 million vistors per year. 3% escalations every year with options through 2038. Operating as Napa's #1 Cannabis Shop with over 70,000 visits annually among a limited set of permitted retailers.
The Building was fully renovated and updated in 2018 converting a former industrial space to the retail space with Highway 29 Exposure at the main Downtown Napa exit.
The Building was fully renovated and updated in 2018 converting a former industrial space to the retail space with Highway 29 Exposure at the main Downtown Napa exit.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront
Building Size
5,140 SF
Building Class
C
Year Built/Renovated
1980/2018
Price
$5,400,000
Price Per SF
$1,050.58
Cap Rate
6.14%
NOI
$331,421
Percent Leased
77%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
0.42 AC
Zoning
M1, Napa - IL Zoning allowing a wide variety of commercial uses and property permitted Cannabis retailers.
Parking
10 Spaces (1.95 Spaces per 1,000 SF Leased)
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Retail space with GL roll up door in excellent condition
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,200 SF | Retail | - | Now |
1st Floor
| Size |
| 1,200 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1 of 2
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1st Floor
| Size | 1,200 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Retail space with GL roll up door in excellent condition
Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 004-491-028 | Improvements Assessment | $2,161,873 |
| Land Assessment | $796,478 | Total Assessment | $2,958,351 |
PROPERTY TAXES
Parcel Number
004-491-028
Land Assessment
$796,478
Improvements Assessment
$2,161,873
Total Assessment
$2,958,351
1 of 5
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Velvet Building Napa | 2441-2449 2nd St
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