For Sale
$6,443,478

14280 San Pablo AveSan Pablo, CA 94806

High-yield retail property, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 14,740-square-foot Walgreens located in San Pablo, California, within the San Francisco MSA. The property sits on a 1.37-acre lot at 14280 San Pablo Avenue, boasting excellent visibility and access with high daily traffic counts on San Pablo Avenue (20,490 VPD) and proximity to El Portal Drive (14,421 VPD) and Interstate 80 (172,000 VPD). The Walgreens enjoys a prominent position in a primary retail and commercial corridor, surrounded by complementary businesses including AutoZone, Starbucks, and AT&T. The location benefits from its proximity to a significant student population, including Contra Costa College, Helms Middle School, and Middle College High School. Within a 3-mile radius, the area offers a robust mix of retail (6.9 MSF), office (1.9 MSF), industrial (10.4 MSF), and multifamily (12,404 units). The property features a NNN lease with a remaining term of approximately 14 years, expiring November 30, 2038. The lease includes twelve 5-year renewal options with a 5% rent increase every 5 years and in each option period. The current asking price is $6,443,478, representing a price per square foot of $437.14 and a 5.75% cap rate with a Net Operating Income (NOI) of $370,500. This presents a compelling investment opportunity in a thriving market with a strong, established tenant and significant long-term growth potential.

Highlights

  • Excellent location with high visibility on San Pablo Ave (20,490 VPD), near El Portal Dr (14,421 VPD) and I-80 (172,000 VPD), less than 14 miles from downtown San Francisco. Strong co-tenancy with AutoZone, Starbucks, AT&T, and Contra Costa Dental.
  • High student population proximity: 0.4 miles from Contra Costa College (6,249 students), near Helms Middle School and Middle College High School.
  • Prime retail location within a 3-mile radius boasting 6.9 MSF of retail, 1.9 MSF of office, 10.4 MSF of industrial space, and 12,404 multifamily units. Strong competitive retail environment.
  • Located in the high-growth San Francisco MSA (4.8M population), a major hub for technology, finance, and culture.

Property Details for 14280 San Pablo Ave

Property type
Retail properties, Drug stores
Square Feet
14,740 SF
Lot Size (sq. ft)
59,677 SF

Location Insight

City
San Pablo
County
Contra Costa
State
California
Latitude
37.9646186
Longitude
-122.3444955
14280 San Pablo Ave, San Pablo, California

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14280 San Pablo Ave
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