Retail Building Near Downtown
For Sale
Contact for pricing
2304 Willow Pass Rd, Concord, CA 94520
4,656 SF retail building in downtown Concord, California.
Property Size4,656 SF
Price / SF$350.09
Days on Market198
Property Features for 2304 Willow Pass Rd
General Information
Standard status
Active
Size
4,656 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Stories
1
Listing Agency:
Newmark
(925) 974-0100
Listed By:
Forrest Gherlone · License #CA 01376723
Source:
Crexi
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 11 at 7:16AM
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
Investment Insights
Based on property information with market context.
The property available for purchase is located at 2304 Willow Pass Road in Concord, California. This single-story retail building offers approximately 4,656 square feet of space. Situated in the heart of downtown Concord, the property is conveniently located one block from Todos Santos Plaza and two blocks from the Concord BART station. The property features flexible DP (Downtown Pedestrian) zoning and a secure outdoor storage area, making it suitable for a variety of uses. It is ideal for either an owner/user or investor.
Key Highlights
- Prime downtown Concord location, just one block from Todos Santos Plaza.
- Close proximity (two blocks) to the Concord BART station.
- Flexible DP (Downtown Pedestrian) zoning allows for a variety of uses.
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
$53,920
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
3.31%
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%
$1,078,400
$1.1M
Cap Rate 7%
$770,286
$770.3K
Cap Rate 9%
$599,111
$599.1K
Market Conditions
NOI Build-Up for 4,656 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
$83.8K $18.00/SF
− Vacancy
−$6.8K −$1.46/SF
EGI
$77.0K $16.54/SF
− OpEx
−$23.1K −$4.96/SF
NOI
$53.9K $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%
$1,078,400
Cap Rate 7%
$770,286
Cap Rate 9%
$599,111
Alternative Uses
Best Use
Retail
$770.3K
$674.0K – $898.7K
NOI $53,920 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.14M
$996.4K – $1.33M
NOI $79,715 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,453
Businesses Nearby
541k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Shops & Services 27%
Groceries 24%
Home Improvements & Furnishings 13%
The Home Depot
Home Improvements & Furnishings
68,146 visits/mo
0.5 miles
99 Ranch Market
Groceries
67,329 visits/mo
0.5 miles
Seafood City
Groceries
64,420 visits/mo
0.5 miles
Chick-fil-A
Dining
59,405 visits/mo
0.5 miles
Yard House
Dining
49,869 visits/mo
0.5 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 4,656 SF retail building in downtown Concord, California.
Where is this retail space located?
The property is located at 2304 Willow Pass Rd Concord, CA.
What is the asking price?
The asking price for this property is $1,630,000.
What are key features of this property?
This property features: Prime downtown Concord location, just one block from Todos Santos Plaza.; Close proximity (two blocks) to the Concord BART station.; Flexible DP (Downtown Pedestrian) zoning allows for a variety of uses.
