Three-Story Mixed-Use
For Sale
$18,000,000
2151 Salvio St, Concord, CA 94520
Multi-tenant commercial building combining ground-floor retail suites with upper-level office space and NNN retail leases.
Property Size123,383 SF
Price / SF$149.69
Days on Market63
Property Features for 2151 Salvio St
General Information
Standard status
Active
Size
123,383 SF
Property subtype
Mixed-Use
Amenities
Significant Lease-Up Potential & Value-Add Opportunity with Strong Current Income
Located Directly on Todos Santos Plaza in Downtown Concord
Three Story Mixed-Use (Office over Retail) Property with Spacious Courtyard
Building Details
Building Size
123,383 SF
Year Built
1985
Listing Agency:
Marcus & Millichap - San Francisco
Listed By:
Quentin Caruso · License #License(s): CA: 02074286
(415) 625-2180
Source:
Marcusmillichap
Added: Jul 18
Changed: Sep 8
Last Checked: Sep 16 at 12:43PM
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 Marcus & Millichap - San Francisco
Investment Insights
Based on property information with market context.
Salvio Pacheco Square is a three-story mixed-use commercial property at 2151 Salvio St in Concord, California. Built in 1985, the 120,345-square-foot building occupies 1.21 acres and includes 20 retail suites on the ground floor plus 24 office suites across the second and third floors. Retail occupants lease under NNN structures, while office suites are predominantly subject to base-year office net leases.
The property fronts Todos Santos Plaza within Downtown Concord’s historical district. A courtyard, water fountain, and two-elevator lobby serve the building, with the lobby providing access to the upper-level offices. Concord BART is a ten-minute walk away, and the surrounding area includes downtown retail, dining, services, and office activity.
The three-mile trade area recorded a population exceeding 124,000 in 2023, with projected growth of 1.3% by 2028. Median household income within three miles is $115,204.
The property fronts Todos Santos Plaza within Downtown Concord’s historical district. A courtyard, water fountain, and two-elevator lobby serve the building, with the lobby providing access to the upper-level offices. Concord BART is a ten-minute walk away, and the surrounding area includes downtown retail, dining, services, and office activity.
The three-mile trade area recorded a population exceeding 124,000 in 2023, with projected growth of 1.3% by 2028. Median household income within three miles is $115,204.
Key Highlights
- 120,345‑square‑foot mixed‑use property on 1.21 acres
- 20 ground‑floor retail suites and 24 office suites on the second and third floors
- Retail suites operate under NNN leases
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
$1,392,574
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
7.74%
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%
$27,851,480
$27.9M
Cap Rate 7%
$19,893,914
$19.9M
Cap Rate 9%
$15,473,044
$15.5M
Market Conditions
NOI Build-Up for 120,250 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
$2.16M $18.00/SF
− Vacancy
−$175.1K −$1.46/SF
EGI
$1.99M $16.54/SF
− OpEx
−$596.8K −$4.96/SF
NOI
$1.39M $11.58/SF
Area
Concord, CA
Vacancy
8.09%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$27,851,480
Cap Rate 7%
$19,893,914
Cap Rate 9%
$15,473,044
Alternative Uses
Best Use
Retail
$19.89M
$17.41M – $23.21M
NOI $1,392,574 @ 7.0% cap · market cap 7.74%
Second Best
Mixed Use
$16.59M
$14.52M – $19.36M
NOI $1,161,615 @ 7.0% cap · market cap 6.45%
Theoretical Best
Multifamily LT 5
$29.41M
$25.73M – $34.31M
NOI $2,058,786 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,889
Businesses Nearby
Explore this area
Business Placement
Demographics for 94520, CA
38,383
Population
13,661
Households
2.8
Avg Household Size
35
Median Age
30%
College-Educated
79%
High-School Grad
9.9 sq mi
ZIP Area
3,877
Density / Sq Mi
$79,790
Median Household Income
$43,382
Median Earnings
$2,118
Median Rent
$572,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-tenant commercial building combining ground-floor retail suites with upper-level office space and NNN retail leases.
Where is this mixed-use property located?
The property is located at 2151 Salvio St Concord, CA.
What is the asking price?
The asking price for this property is $18,000,000.
What are key features of this property?
This property features: 120,345‑square‑foot mixed‑use property on 1.21 acres; 20 ground‑floor retail suites and 24 office suites on the second and third floors; Retail suites operate under NNN leases
