Class B Office
New
For Sale
$6,500,000
140 Gregory Ln, Pleasant Hill, CA 94523
Two-story office property with an atrium, mature landscaping, and on-site parking near major highways.
Property Size31,092 SF
Price / SF$209.06
Days on Market2
Property Features for 140 Gregory Ln
General Information
Standard status
Active
Size
31,092 SF
Class
Class B
Property subtype
Office
Occupancy
100%
Additional Details
Highway Access
Yes
Amenities
two-story atrium
mature landscaping
on-site parking
Building Details
Year Built
1984
Buildings
1
Building Size
31,092 SF
Listing Agency:
Walnut Creek
Listed By:
Eric Erickson · License #CA-01177336
(925) 279-5580
Source:
Colliers
Added: Sep 11
Last Checked: Sep 12 at 3:30AM
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 Walnut Creek
Investment Insights
Based on property information with market context.
Built in 1984, this Class B office property contains 31,092 square feet across a two-story configuration. A central atrium and mature landscaping add shared interior and exterior features, while generous on-site parking supports daily building operations. The property is currently 100% occupied.
Located at 140 Gregory Ln in Pleasant Hill, the building sits directly off I-680 and Highway 242. City Offices are across the street, with Downtown Pleasant Hill retail amenities nearby. The property’s office configuration accommodates a wide range of tenant uses.
Located at 140 Gregory Ln in Pleasant Hill, the building sits directly off I-680 and Highway 242. City Offices are across the street, with Downtown Pleasant Hill retail amenities nearby. The property’s office configuration accommodates a wide range of tenant uses.
Key Highlights
- 31,092 SF office building constructed in 1984
- Two‑story atrium with mature landscaping
- Currently 100% occupied
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
$562,174
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
8.65%
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%
$11,243,480
$11.2M
Cap Rate 7%
$8,031,057
$8.0M
Cap Rate 9%
$6,246,378
$6.2M
Market Conditions
NOI Build-Up for 31,092 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
$914.1K $29.40/SF
− Vacancy
−$164.5K −$5.29/SF
EGI
$749.6K $24.11/SF
− OpEx
−$187.4K −$6.03/SF
NOI
$562.2K $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 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%
$11,243,480
Cap Rate 7%
$8,031,057
Cap Rate 9%
$6,246,378
Alternative Uses
Best Use
Office B
$8.03M
$7.03M – $9.37M
NOI $562,174 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.75M
$10.28M – $13.71M
NOI $822,694 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 94523, CA
35,272
Population
14,585
Households
2.4
Avg Household Size
42
Median Age
56%
College-Educated
96%
High-School Grad
7.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$142,622
Median Household Income
$74,832
Median Earnings
$2,479
Median Rent
$1,038,400
Median Home Value
Check the figures for this property
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?
Office building - Two-story office property with an atrium, mature landscaping, and on-site parking near major highways.
Where is this office building located?
The property is located at 140 Gregory Ln Pleasant Hill, CA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 31,092 SF office building constructed in 1984; Two‑story atrium with mature landscaping; Currently 100% occupied
