Leased Retail Strip
For Sale
Contact for pricing
2141 North Broadway, Walnut Creek, CA 94596
Fully leased retail strip center anchored by Big O Tires, offering an income-producing tenant lineup for investors.
Property Size21,802 SF
Price / SF$417.30
Days on Market105
Property Features for 2141 North Broadway
General Information
Standard status
Active
Size
21,802 SF
Total Parking Spaces
56
Property subtype
Retail, Industrial
Zoning
AS-CM: Auto Sales/Service & Custom Manufacturing
Occupancy
100%
Investment Type
Net Lease
Net Operating Income
$545,851
Building Details
Year Built
1979
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Fisher James Capital
Listed By:
Lindsey Snider · License #CA 01443387
(831) 566-6270
Source:
Crexi
Added: Jun 8
Changed: Sep 6
Last Checked: Sep 20 at 7:40AM
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 Fisher James Capital
Investment Insights
Based on property information with market context.
This offering is a fully leased retail strip center anchored by Big O Tires. The property is presented as a retail strip configuration built to support multiple tenants within a single center, with occupancy already in place at the time of sale.
The center is located at 2141 North Broadway in Walnut Creek, positioned as an infill site adjacent to downtown Walnut Creek within the San Francisco Bay Area. The public remarks also note that the property is served by shorter lease terms, which can be an important consideration for future tenant or operating flexibility.
For buyers seeking a retail asset with established tenancy, the anchored structure and current full occupancy may align well with ownership strategies focused on day-to-day cash flow and managed lease rollover. The Big O Tires anchor provides a tangible tenant anchor within the center, while the noted shorter lease terms may appeal to investors who plan to evaluate future leasing and renewals over time. This is being offered for sale as a complete, income-producing retail strip center.
The center is located at 2141 North Broadway in Walnut Creek, positioned as an infill site adjacent to downtown Walnut Creek within the San Francisco Bay Area. The public remarks also note that the property is served by shorter lease terms, which can be an important consideration for future tenant or operating flexibility.
For buyers seeking a retail asset with established tenancy, the anchored structure and current full occupancy may align well with ownership strategies focused on day-to-day cash flow and managed lease rollover. The Big O Tires anchor provides a tangible tenant anchor within the center, while the noted shorter lease terms may appeal to investors who plan to evaluate future leasing and renewals over time. This is being offered for sale as a complete, income-producing retail strip center.
Key Highlights
- Fully leased retail strip center anchored by Big O Tires
- Year built: 1979
- Income‑producing tenant lineup with retail strip center configuration
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
$557,519
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
6.13%
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%
$11,150,380
$11.2M
Cap Rate 7%
$7,964,557
$8.0M
Cap Rate 9%
$6,194,656
$6.2M
Market Conditions
NOI Build-Up for 21,802 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
$850.3K $39.00/SF
− Vacancy
−$53.8K −$2.47/SF
EGI
$796.5K $36.53/SF
− OpEx
−$238.9K −$10.96/SF
NOI
$557.5K $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%
$11,150,380
Cap Rate 7%
$7,964,557
Cap Rate 9%
$6,194,656
Alternative Uses
Best Use
Retail
$7.96M
$6.97M – $9.29M
NOI $557,519 @ 7.0% cap · market cap 6.13%
Second Best
Industrial
$4.62M
$4.04M – $5.39M
NOI $323,557 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$8.24M
$7.21M – $9.61M
NOI $576,881 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,551
Businesses Nearby
347k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 56%
Shops & Services 27%
Dining 12%
Hotels & Casinos 4%
Target
Superstores
194,387 visits/mo
0.4 miles
Chevron
Shops & Services
20,430 visits/mo
0.2 miles
Taco Bell
Dining
19,854 visits/mo
0.3 miles
Chevron
Shops & Services
14,416 visits/mo
0.2 miles
76
Shops & Services
12,830 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased retail strip center anchored by Big O Tires, offering an income-producing tenant lineup for investors.
Where is this strip mall located?
The property is located at 2141 North Broadway Walnut Creek, CA.
What is the asking price?
The asking price for this property is $9,098,000.
What are key features of this property?
This property features: Fully leased retail strip center anchored by Big O Tires; Year built: 1979; Income‑producing tenant lineup with retail strip center configuration
