Two-Story Office
For Sale
Contact for pricing
323-325 Lennon Ln, Walnut Creek, CA 94598
Two-story office condominium with an occupied first floor and a vacant second floor at close of escrow.
Property Size5,930 SF
Price / SF$404.72
Days on Market558
Property Features for 323-325 Lennon Ln
General Information
Standard status
Active
Size
5,930 SF
Property subtype
OFFICE
Listing Agency:
JLL | Walnut Creek
(925) 586-7880
Listed By:
Knute Bucklew
Source:
Moodyscre
Added: Jan 22, 2025
Changed: Jul 28
Last Checked: Aug 2 at 2:51PM
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 JLL | Walnut Creek
Investment Insights
Based on property information with market context.
Approximately 5,930 square foot two-story office condominium offered for sale. The property is zoned Business Park (BP-200) and is configured as separate office levels, with the first floor currently occupied under an annual agreement that includes renewal options through January 2025. The second floor will be available and vacant at close of escrow, and furniture and fixtures are included for the second-floor space.
The offering provides easy access to nearby amenities and city parks and trails.
With SBA financing likely possible, this condominium is being presented as a strong fit for an owner-user seeking near-term control of the second-floor layout while the first floor remains in place under the existing lease terms.
The offering provides easy access to nearby amenities and city parks and trails.
With SBA financing likely possible, this condominium is being presented as a strong fit for an owner-user seeking near-term control of the second-floor layout while the first floor remains in place under the existing lease terms.
Key Highlights
- Approximately 5,930 SF, two‑story office condominium for sale
- Zoned Business Park (BP‑200)
- First‑floor tenant is in place on an annual basis with renewal options through Jan 2025
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $174.3k | $29.40 |
| − Vacancy | −$31.4k | −$5.29 |
| EGI | $143.0k | $24.11 |
| − OpEx | −$35.7k | −$6.03 |
| NOI | $107.2k | $18.08 |
5,930 SF · lease $29.40/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.79M
NOI $107,220 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $156,908 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,055
Businesses Nearby
Explore this area
Business Placement
Demographics for 94598, CA
26,826
Population
10,735
Households
2.5
Avg Household Size
46
Median Age
74%
College-Educated
98%
High-School Grad
20.6 sq mi
ZIP Area
1,302
Density / Sq Mi
$188,170
Median Household Income
$99,757
Median Earnings
$2,989
Median Rent
$1,307,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two-story office condominium with an occupied first floor and a vacant second floor at close of escrow.
Where is this office units located?
The property is located at 323-325 Lennon Ln Walnut Creek, CA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Approximately 5,930 SF, two‑story office condominium for sale; Zoned Business Park (BP‑200); First‑floor tenant is in place on an annual basis with renewal options through Jan 2025
