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 Market651
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) 944-2140
Listed By:
Knute Bucklew
(925) 586-7880
Source:
Moodyscre
Added: Jan 22, 2025
Changed: Nov 1
Last Checked: Nov 1 at 5:29AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$107,220
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,144,400
$2.1M
Cap Rate 7%
$1,531,714
$1.5M
Cap Rate 9%
$1,191,333
$1.2M
Market Conditions
NOI Build-Up for 5,930 SF
Gross rent
$174.3K $29.40/SF
− Vacancy
−$31.4K −$5.29/SF
EGI
$143.0K $24.11/SF
− OpEx
−$35.7K −$6.03/SF
NOI
$107.2K $18.08/SF
Area
Contra Costa County, CA
Vacancy
18.00%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,144,400
Cap Rate 7%
$1,531,714
Cap Rate 9%
$1,191,333
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.
How Realmo checks its estimates
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
Frequently Asked Questions
What type of property is this?
Office unit - Two-story office condominium with an occupied first floor and a vacant second floor at close of escrow.
Where is this office unit 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
