Fully Leased Retail
For Sale
Contact for pricing
1512 Sunnyvale Avenue, Walnut Creek, CA 94597
Established shopping center with five tenants, annual rent increases, and staggered lease expirations.
Property Size8,472 SF
Price / SF$661
Days on Market11
Property Features for 1512 Sunnyvale Avenue
General Information
Standard status
Active
Size
8,472 SF
Total Parking Spaces
31
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$317,738
Additional Details
Traffic Count
33,000 vehicles/day
Building Details
Year Built
1981
Units
5
Tenancy
Multi
Listing Agency:
Newmark Knight Frank - Walnut Creek
(925) 974-0100
Listed By:
Mike Zylstra · License #CA 01310041
Source:
Crexi
Added: Aug 12
Changed: Aug 21
Last Checked: Aug 21 at 9:10AM
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 Newmark Knight Frank - Walnut Creek
Investment Insights
Based on property information with market context.
Sunnyvale Retail Center is a shopping center at 1500-1512 Sunnyvale Avenue in Walnut Creek, California. Built in 1981, the property is fully leased across five tenant spaces, providing an occupied retail configuration with diversified tenancy. Lease terms include scheduled annual increases and expirations spread across different dates.
The center occupies a signalized intersection with visibility to more than 33,000 vehicles per day. The property has been held for more than twenty-five years and is being offered for sale. Its established retail format, current occupancy, and varied lease timing are central features of the offering.
The center occupies a signalized intersection with visibility to more than 33,000 vehicles per day. The property has been held for more than twenty-five years and is being offered for sale. Its established retail format, current occupancy, and varied lease timing are central features of the offering.
Key Highlights
- 100% leased to five tenants
- 8,472 property size
- Signalized intersection with exposure to over 33,000 vehicles per day
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
$216,645
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
3.87%
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%
$4,332,900
$4.3M
Cap Rate 7%
$3,094,929
$3.1M
Cap Rate 9%
$2,407,167
$2.4M
Market Conditions
NOI Build-Up for 8,472 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
$330.4K $39.00/SF
− Vacancy
−$20.9K −$2.47/SF
EGI
$309.5K $36.53/SF
− OpEx
−$92.8K −$10.96/SF
NOI
$216.6K $25.57/SF
Area
Contra Costa County, CA
Vacancy
6.33%
Lease Rate
$39.00 /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%
$4,332,900
Cap Rate 7%
$3,094,929
Cap Rate 9%
$2,407,167
Alternative Uses
Best Use
Retail
$3.09M
$2.71M – $3.61M
NOI $216,645 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.20M
$2.80M – $3.74M
NOI $224,169 @ 7.0% cap · market cap 4.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
33,000 VPD
Traffic count
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,906
Businesses Nearby
261k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 25%
Groceries 18%
Hotels & Casinos 10%
Chick-fil-A
Dining
57,904 visits/mo
0.3 miles
Sprouts Farmers Market
Groceries
26,827 visits/mo
0.1 miles
Wendy's
Dining
21,111 visits/mo
0.1 miles
BevMo!
Groceries
18,972 visits/mo
0.2 miles
Chevron
Shops & Services
16,886 visits/mo
0.2 miles
Demographics for 94597, CA
23,661
Population
11,262
Households
2.1
Avg Household Size
39
Median Age
66%
College-Educated
96%
High-School Grad
4.1 sq mi
ZIP Area
5,771
Density / Sq Mi
$142,685
Median Household Income
$79,278
Median Earnings
$2,557
Median Rent
$986,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Established shopping center with five tenants, annual rent increases, and staggered lease expirations.
Where is this shopping center located?
The property is located at 1512 Sunnyvale Avenue Walnut Creek, CA.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: 100% leased to five tenants; 8,472 property size; Signalized intersection with exposure to over 33,000 vehicles per day
