Leased Retail Storefront with
For Sale
$359,000
1823 Springs Road, Vallejo, CA 94591
Leased commercial storefront with dedicated gas and electric metering plus gated rear parking in a high-traffic corridor.
Property Size1,200 SF
Price / SF$299.17
Days on Market144
Property Features for 1823 Springs Road
General Information
Standard status
Active
Size
1,200 SF
Property subtype
General Commercial
Site & Location
Traffic Count
16,900 vehicles/day
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,339
Amenities
gated rear parking
3
Flat
2 Parking Spaces.
Building Details
Year Built
1950
Tenancy
Single
Listing Agency:
Reena Real Estate Inc.
(415) 866-3440
Listed By:
Reena Paleja · License #01133785
Source:
Xome
Added: Apr 15
Changed: Sep 2
Last Checked: Sep 5 at 5:17AM
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 Reena Real Estate Inc.
Investment Insights
Based on property information with market context.
This leased retail storefront spans approximately 1,200 square feet and is currently occupied by an established tenant, providing immediate income for an owner. The property includes dedicated gas and electric metering and gated rear parking.
Located on one of East Vallejo’s most traveled corridors, the center benefits from heavy daily traffic, with more than 16,900 vehicles passing per day. It is also described as minutes from Highway 80, with surrounding retail and residential demand.
For investors seeking additional scale, 1823 Springs Road is available for purchase together with the adjacent 1825 Springs Road, as a two-property portfolio listing.
Located on one of East Vallejo’s most traveled corridors, the center benefits from heavy daily traffic, with more than 16,900 vehicles passing per day. It is also described as minutes from Highway 80, with surrounding retail and residential demand.
For investors seeking additional scale, 1823 Springs Road is available for purchase together with the adjacent 1825 Springs Road, as a two-property portfolio listing.
Key Highlights
- 1,200 SF leased commercial storefront currently occupied by an established tenant
- Flat roof; Community Commercial (CC) zoning
- Dedicated gas and electric metering
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
$27,791
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%
$555,820
$555.8K
Cap Rate 7%
$397,014
$397.0K
Cap Rate 9%
$308,789
$308.8K
Market Conditions
NOI Build-Up for 1,200 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
$43.2K $36.00/SF
− Vacancy
−$3.5K −$2.92/SF
EGI
$39.7K $33.08/SF
− OpEx
−$11.9K −$9.93/SF
NOI
$27.8K $23.16/SF
Area
Vallejo, CA
Vacancy
8.10%
Lease Rate
$36.00 /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%
$555,820
Cap Rate 7%
$397,014
Cap Rate 9%
$308,789
Alternative Uses
Best Use
Retail
$397.0K
$347.4K – $463.2K
NOI $27,791 @ 7.0% cap · market cap 7.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$584.0K
$511.0K – $681.4K
NOI $40,882 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16,900 VPD
Traffic count
Single-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
698
Businesses Nearby
172k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 50%
Shops & Services 35%
Dining 13%
Electronics 2%
Cardenas Market
Groceries
40,062 visits/mo
0.5 miles
Island Pacific Supermarkets
Groceries
29,656 visits/mo
0.4 miles
Bank of America
Shops & Services
21,650 visits/mo
0.3 miles
Jack in the Box
Dining
16,972 visits/mo
0.4 miles
Grocery Outlet Bargain Market
Groceries
16,755 visits/mo
0.4 miles
Demographics for 94591, CA
56,305
Population
20,543
Households
2.7
Avg Household Size
42
Median Age
31%
College-Educated
89%
High-School Grad
21.1 sq mi
ZIP Area
2,668
Density / Sq Mi
$107,849
Median Household Income
$50,607
Median Earnings
$2,218
Median Rent
$602,200
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?
Storefront property - Leased commercial storefront with dedicated gas and electric metering plus gated rear parking in a high-traffic corridor.
Where is this storefront property located?
The property is located at 1823 Springs Road Vallejo, CA.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 1,200 SF leased commercial storefront currently occupied by an established tenant; Flat roof; Community Commercial (CC) zoning; Dedicated gas and electric metering
