Three-Story Mixed-Use
For Sale
Contact for pricing
2151 Salvio St, Concord, CA 94520
Multi-tenant commercial building combining ground-floor retail suites with upper-level office space and NNN retail leases.
Property Size120,345 SF
Price / SF$130.04
Days on Market187
Property Features for 2151 Salvio St
General Information
Standard status
Active
Size
120,345 SF
Class
C
Property subtype
Office, Retail
Occupancy
63%
Investment Type
Value Add
Net Operating Income
$1,252,482
Building Details
Year Built
1985
Buildings
1
Stories
3
Units
44
Tenancy
Multi
Listing Agency:
Marcus & Millichap - San Francisco
(415) 625-2180
Listed By:
Quentin Caruso · License #02074286
Source:
Crexi
Added: Feb 24
Changed: Aug 30
Last Checked: Aug 30 at 9:23AM
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 Marcus & Millichap - San Francisco
Investment Insights
Based on property information with market context.
Salvio Pacheco Square is a three-story mixed-use commercial property at 2151 Salvio St in Concord, California. Built in 1985, the 120,345-square-foot building occupies 1.21 acres and includes 20 retail suites on the ground floor plus 24 office suites across the second and third floors. Retail occupants lease under NNN structures, while office suites are predominantly subject to base-year office net leases.
The property fronts Todos Santos Plaza within Downtown Concord’s historical district. A courtyard, water fountain, and two-elevator lobby serve the building, with the lobby providing access to the upper-level offices. Concord BART is a ten-minute walk away, and the surrounding area includes downtown retail, dining, services, and office activity.
The three-mile trade area recorded a population exceeding 124,000 in 2023, with projected growth of 1.3% by 2028. Median household income within three miles is $115,204.
The property fronts Todos Santos Plaza within Downtown Concord’s historical district. A courtyard, water fountain, and two-elevator lobby serve the building, with the lobby providing access to the upper-level offices. Concord BART is a ten-minute walk away, and the surrounding area includes downtown retail, dining, services, and office activity.
The three-mile trade area recorded a population exceeding 124,000 in 2023, with projected growth of 1.3% by 2028. Median household income within three miles is $115,204.
Key Highlights
- 120,345‑square‑foot mixed‑use property on 1.21 acres
- 20 ground‑floor retail suites and 24 office suites on the second and third floors
- Retail suites operate under NNN leases
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
$1,393,675
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
8.91%
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%
$27,873,500
$27.9M
Cap Rate 7%
$19,909,643
$19.9M
Cap Rate 9%
$15,485,278
$15.5M
Market Conditions
NOI Build-Up for 120,345 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
$2.17M $18.00/SF
− Vacancy
−$175.2K −$1.46/SF
EGI
$1.99M $16.54/SF
− OpEx
−$597.3K −$4.96/SF
NOI
$1.39M $11.58/SF
Area
Concord, CA
Vacancy
8.09%
Lease Rate
$18.00 /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%
$27,873,500
Cap Rate 7%
$19,909,643
Cap Rate 9%
$15,485,278
Alternative Uses
Best Use
Retail
$19.91M
$17.42M – $23.23M
NOI $1,393,675 @ 7.0% cap · market cap 8.91%
Second Best
Mixed Use
$16.61M
$14.53M – $19.38M
NOI $1,162,533 @ 7.0% cap · market cap 7.43%
Theoretical Best
Multifamily LT 5
$29.43M
$25.76M – $34.34M
NOI $2,060,412 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,889
Businesses Nearby
Explore this area
Business Placement
Demographics for 94520, CA
38,383
Population
13,661
Households
2.8
Avg Household Size
35
Median Age
30%
College-Educated
79%
High-School Grad
9.9 sq mi
ZIP Area
3,877
Density / Sq Mi
$79,790
Median Household Income
$43,382
Median Earnings
$2,118
Median Rent
$572,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-tenant commercial building combining ground-floor retail suites with upper-level office space and NNN retail leases.
Where is this mixed-use property located?
The property is located at 2151 Salvio St Concord, CA.
What is the asking price?
The asking price for this property is $15,650,000.
What are key features of this property?
This property features: 120,345‑square‑foot mixed‑use property on 1.21 acres; 20 ground‑floor retail suites and 24 office suites on the second and third floors; Retail suites operate under NNN leases
