814 San Pablo AveAlbany, CA 94706

Property Details for 814 San Pablo Ave

Year built

1923

Property size (Sq ft)

2,192 SF

Property type

Retail properties

Property subtype

Retail space

Description

This stabilized retail property in Albany, CA, offers a compelling investment opportunity. Located at 814-816 San Pablo Ave, this 2,192 square foot, single-story building features two retail units currently boasting 100% occupancy. One tenant, a dry cleaner, has operated successfully for over 30 years, while the other, a Farmers Insurance office, has been in place since June 30, 2019. The current lease terms are gross, with annual renewal options and negotiable rent bumps. The property sits on a 3,500 square foot lot and benefits from a walk score of 89%, placing it within easy reach of Solano Ave, University Village, and El Cerrito Plaza. Built in 1923, the building is well-maintained and presents excellent curb appeal. The current Net Operating Income (NOI) is $63,735, resulting in a 9.62% cap rate. The asking price is $899,000, translating to $433.39 per square foot and $271.42 per square foot for the land. The property is zoned for retail use and presents a strong potential for future income growth. Leases expire February 27, 2025. This is a rare opportunity to acquire a well-located, income-producing retail property in a desirable Bay Area location.

Location Insight

City

Albany

County

Alameda

State

California

Latitude

37.8919

Longitude

-122.299

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