Medical/Dental Office Near
For Sale
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1802 San Miguel Dr, Walnut Creek, CA 94596
Medical/dental office with six exam rooms near downtown Walnut Creek.
Property Size2,320 SF
Price / SF$646.55
Days on Market154
Property Features for 1802 San Miguel Dr
General Information
Standard status
Active
Size
2,320 SF
Class
C
Property subtype
Office
Building Details
Buildings
1
Stories
1
Listing Agency:
Sotheby's International Realty
(925) 487-4883
Listed By:
Stacy Gilbert · License #CA 01350631
Source:
Crexi
Added: Mar 14
Changed: Aug 8
Last Checked: Aug 12 at 10:00AM
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 Sotheby's International Realty
Investment Insights
Based on property information with market context.
This medical/dental office, situated near downtown Walnut Creek, features six exam/treatment rooms, a waiting room, a records/receptionist area, a prep room, and an executive office with a private restroom. Two additional restrooms and a lab/prep area are also included. The property benefits from two spacious yard areas and natural light throughout. Previously used as a dental office for over 20 years, the space is suitable for medical professionals, dentists, and those in the medical spa industry. The owner's association CC&Rs restrict the use of the space to medical and dental purposes. The current monthly owner's association dues are $2,098, which includes the utilities fee. The property size is 2,320 square feet.
Key Highlights
- Convenient location near downtown Walnut Creek.
- Equipped with six exam/treatment rooms.
- Suitable for medical, dental, or medical spa use (permissible under CC&Rs).
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
$41,948
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
2.80%
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%
$838,960
$839.0K
Cap Rate 7%
$599,257
$599.3K
Cap Rate 9%
$466,089
$466.1K
Market Conditions
NOI Build-Up for 2,320 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
$68.2K $29.40/SF
− Vacancy
−$12.3K −$5.29/SF
EGI
$55.9K $24.11/SF
− OpEx
−$14.0K −$6.03/SF
NOI
$41.9K $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%
$838,960
Cap Rate 7%
$599,257
Cap Rate 9%
$466,089
Alternative Uses
Best Use
Office B
$599.3K
$524.4K – $699.1K
NOI $41,948 @ 7.0% cap · market cap 2.80%
Second Best
Healthcare Medical
$491.3K
$429.9K – $573.2K
NOI $34,389 @ 7.0% cap · market cap 2.29%
Theoretical Best
Office A
$877.0K
$767.3K – $1.02M
NOI $61,387 @ 7.0% cap · market cap 4.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,859
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94596, CA
22,861
Population
11,242
Households
2
Avg Household Size
40
Median Age
70%
College-Educated
97%
High-School Grad
6.1 sq mi
ZIP Area
3,748
Density / Sq Mi
$137,660
Median Household Income
$72,311
Median Earnings
$2,471
Median Rent
$1,245,000
Median Home Value
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical/dental office with six exam rooms near downtown Walnut Creek.
Where is this medical office space located?
The property is located at 1802 San Miguel Dr Walnut Creek, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Convenient location near downtown Walnut Creek.; Equipped with six exam/treatment rooms.; Suitable for medical, dental, or medical spa use (permissible under CC&Rs).
