Retail Property on San
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12249 San Pablo Ave, Richmond, CA 94805
Single-tenant NNN leased investment property in the Bay Area.
Property Size4,250 SF
Price / SF$352.94
Days on Market169
Property Features for 12249 San Pablo Ave
General Information
Standard status
Active
Size
4,250 SF
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$98,198
Building Details
Units
1
Tenancy
Single
Listing Agency:
MRE Commercial
Listed By:
Francis Griffin · License #CA 02016713
Source:
Crexi
Added: Feb 26
Changed: Aug 13
Last Checked: Aug 13 at 6:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MRE Commercial
Investment Insights
Based on property information with market context.
This single-tenant NNN leased investment property is located in the Bay Area. The property has been occupied by a grocery store since 1971. It features visibility on San Pablo Ave (CA State Route 123), which experiences high daily traffic counts. The property is one block from I-80 on/off ramps. Off-street parking is available with access from both San Pablo Ave and Wilson Ave. The tenant recently invested in the business and property.
Key Highlights
- Long‑term single‑tenant NNN lease investment in the Bay Area
- High visibility location on San Pablo Ave (CA State Route 123) with high traffic counts
- Grocery store tenant in place since 1971
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$64,031
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,280,620
$1.3M
Cap Rate 7%
$914,729
$914.7K
Cap Rate 9%
$711,456
$711.5K
Market Conditions
NOI Build-Up for 4,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$91.8K $21.60/SF
− Vacancy
−$6.4K −$1.51/SF
EGI
$85.4K $20.09/SF
− OpEx
−$21.3K −$5.02/SF
NOI
$64.0K $15.07/SF
Area
Richmond, CA
Vacancy
7.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,280,620
Cap Rate 7%
$914,729
Cap Rate 9%
$711,456
Alternative Uses
Best Use
Specialty Retail
$914.7K
$800.4K – $1.07M
NOI $64,031 @ 7.0% cap · market cap 4.27%
Second Best
Retail
$816.6K
$714.6K – $952.8K
NOI $57,165 @ 7.0% cap · market cap 3.81%
Theoretical Best
Multifamily LT 5
$1.02M
$888.4K – $1.18M
NOI $71,072 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
908
Businesses Nearby
287k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 28%
Shops & Services 21%
Home Improvements & Furnishings 21%
Dining 15%
Target
Superstores
81,403 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
59,442 visits/mo
0.4 miles
Grocery Outlet Bargain Market
Groceries
30,655 visits/mo
0.3 miles
Wells Fargo
Shops & Services
21,338 visits/mo
0.3 miles
Chase Bank
Shops & Services
15,839 visits/mo
0.2 miles
Demographics for 94805, CA
14,958
Population
6,076
Households
2.5
Avg Household Size
41
Median Age
44%
College-Educated
86%
High-School Grad
1.9 sq mi
ZIP Area
7,873
Density / Sq Mi
$114,191
Median Household Income
$57,133
Median Earnings
$2,272
Median Rent
$738,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Grocery Outlet — 12010 San Pablo Ave, Richmond, CA 94805
- Rincon Latino — 12851 San Pablo Ave, Richmond, CA 94805
- Target Grocery — 4500 Macdonald Ave, Richmond, CA 94805
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Single-tenant NNN leased investment property in the Bay Area.
Where is this grocery and convenience store located?
The property is located at 12249 San Pablo Ave Richmond, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Long‑term single‑tenant NNN lease investment in the Bay Area; High visibility location on San Pablo Ave (CA State Route 123) with high traffic counts; Grocery store tenant in place since 1971
