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Bridges Restaurant - Net Leased Value-Add 44 Church St 5,022 SF Retail Building Danville, CA 94526 $3,680,000 ($732.78/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Iconic Trophy Building in the heart of downtown Danville
- 3% annual increases
- Under market rent with fair market value option
- Adjacent to 200 stall Town of Danville parking lot and Village Theatre
EXECUTIVE SUMMARY
Opportunity to acquire 44 Church Street (the “Property” or “Bridges”) in downtown Danville, California. The iconic restaurant building is 100% leased to Bridges on a net
basis with the lease expiring November 30, 2030. Located in the very heart of affluent downtown Danville, the Property is immediately adjacent to the Village Theatre and the
200-stall Village Theatre municipal parking lot which provides ample parking for restaurant patrons.
The existing rent is currently well-below market giving an investor the ability to increase income significantly if the tenant vacates or exercises its “Fair Market Value” option to extend. With its rustic appeal and A+ location, the Property represents a unique occasion to invest in a generational asset.
basis with the lease expiring November 30, 2030. Located in the very heart of affluent downtown Danville, the Property is immediately adjacent to the Village Theatre and the
200-stall Village Theatre municipal parking lot which provides ample parking for restaurant patrons.
The existing rent is currently well-below market giving an investor the ability to increase income significantly if the tenant vacates or exercises its “Fair Market Value” option to extend. With its rustic appeal and A+ location, the Property represents a unique occasion to invest in a generational asset.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,022 SF
Building Class
C
Year Built
1986
Price
$3,680,000
Price Per SF
$732.78
Cap Rate
4.75%
NOI
$174,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.44
Lot Size
0.26 AC
Zoning
47 - Restaurants (Not Drive-In; Inside Svc Only)
Parking
18 Spaces (3.58 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 208-022-046-6 | Improvements Assessment | $2,505,657 |
| Land Assessment | $755,740 | Total Assessment | $3,261,397 |
PROPERTY TAXES
Parcel Number
208-022-046-6
Land Assessment
$755,740
Improvements Assessment
$2,505,657
Total Assessment
$3,261,397
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Bridges Restaurant - Net Leased Value-Add | 44 Church St
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