151 Park Pl Richmond, CA 94801

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.