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Recently Delivered Multi-Tenant Shopping Center
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3658 Capitol Ave, Fremont, CA 94538

Fully leased retail complex with food- and service-oriented occupancy in Fremont’s New Downtown District.

Property Size21,073 SF
Days on Market143

Property Features for 3658 Capitol Ave

General Information

Standard status Active
Size 21,073 SF
Property subtype Retail
Occupancy 100%

Additional Details

Corner Location Yes

Building Details

Year Built 2021
Buildings 2
Tenancy Multi
Listing Agency: Cushman & Wakefield - San Francisco, California
Listed By: Don LeBuhn · License #CA 01821805
Source: Crexi
Added: Apr 12 Changed: Aug 31 Last Checked: Aug 29 at 2:27PM

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 Cushman & Wakefield - San Francisco, California

Investment Insights

Based on property information with market context.

Delivered in 2021, this multi-tenant shopping center contains 21,073 square feet across two components: Capitol Square East with 10,152 square feet and Capitol Square West with 10,921 square feet. The property is fully leased to 11 tenants, with individual leases of 3,463 square feet or less. Food and service businesses comprise most of the tenant roster, and the asset carries a 9-year WALT.

The center occupies the corner of Capitol Avenue and State Street in Fremont’s New Downtown District, a 110-acre mixed-use district. It is nearly adjacent to Fremont Hub, which includes Target, Trader Joe’s, Safeway, Ross, Marshalls, Michaels, CVS, and PetSmart. Additional nearby retail centers are anchored by Mega Mart, Whole Foods, Raley’s, Smart & Final, and FoodMaxx.

Key Highlights

  • 21,073‑square‑foot retail center delivered in 2021
  • Fully leased to 11 tenants with a 9‑year WALT
  • Capitol Square East: 10,152 square feet; Capitol Square West: 10,921 square feet

Property Analytics

Current Use

Fremont Erectile Dysfunction ... Medical Clinic GreenMD Medical Marijuana ... Alternative Medicine Practice Aura Skin-N-Beauty Alternative Medicine Practice Honest Indian Vegetarian ... Restaurant Locale East Townhouse Complex

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Auto Repair Shop Auto Parts Store Electrical Service HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%
Occupancy
Multi-tenant
Tenancy

Location Intelligence

Trade Area within ½ mile

4,600
Businesses Nearby
1.1M
Monthly Visits Nearby
Well-served
Demand for This Use

Foot Traffic Nearby

Groceries 28% Shops & Services 22% Dining 20% Superstores 13%
Target Superstores
145,144 visits/mo 0.4 miles
Safeway Groceries
72,041 visits/mo 0.4 miles
Whole Foods Market Groceries
63,178 visits/mo 0.3 miles
Trader Joe's Groceries
62,959 visits/mo 0.5 miles
Marshalls Apparel
46,902 visits/mo 0.4 miles

Demographics for 94538, CA

66,424
Population
24,429
Households
2.7
Avg Household Size
36
Median Age
53%
College-Educated
90%
High-School Grad
16.5 sq mi
ZIP Area
4,026
Density / Sq Mi
$144,451
Median Household Income
$76,827
Median Earnings
$2,860
Median Rent
$1,104,800
Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020
6.3% 2021
5.5% 2022
5.3% 2023
5.5% 2024
5.8% 2025
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Frequently Asked Questions

What type of property is this?
Shopping center - Fully leased retail complex with food- and service-oriented occupancy in Fremont’s New Downtown District.
Where is this shopping center located?
The property is located at 3658 Capitol Ave Fremont, CA.
What are key features of this property?
This property features: 21,073‑square‑foot retail center delivered in 2021; Fully leased to 11 tenants with a 9‑year WALT; Capitol Square East: 10,152 square feet; Capitol Square West: 10,921 square feet
More about this property
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