For Sale
$4,950,000

151 Park PlRichmond, CA 94801

Prime Retail Space, High NOI, 7% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional retail property at 151-157 Park Place in Richmond, CA, presents a rare owner-user or investment opportunity. Located in Point Richmond's historic district, at the corner of Park Place and W. Richmond Avenue, this property boasts 18,405 square feet of net rentable space, offering significant potential. Originally two buildings, it was renovated in 2017 into a single, contiguous structure on a 0.212-acre lot (APN 558-122-047). The building features high-end finishes, including kitchenettes and restrooms on each floor, elevator service, and HVAC, ensuring accessibility. Currently housing a long-term tenant with multiple California locations and a ground-floor pizzeria, the property is zoned MCM-2 Commercial Mixed-Use. The spacious layout allows for single-tenant occupancy or division into multiple units for investment purposes. The second floor includes a rear balcony. Built in 1992, the property offers a strong NOI of $346,536 and an attractive 7.00% cap rate, making it an ideal investment at an asking price of $4,950,000 ($270/sq ft). Its convenient location just off the Castro exit of I-580, in a walkable area with numerous amenities, ensures high visibility and accessibility for both clients and employees. The approximately 3,145 square feet of garage space adds further value to this remarkable offering.

Property Details for 151 Park Pl

Property type
Retail properties, Retail space
Square Feet
18,405 SF
Year Built/Renovated
1992/2017
Lot Size (sq. ft)
9,235 SF

Location Insight

City
Richmond
County
Contra Costa
State
California
Latitude
37.9261066
Longitude
-122.3848897
151 Park Pl, Richmond, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
151 Park Pl
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message