Richmond Retail Pad For
For Sale
$5,195,000
4200 Macdonald Avenue, Richmond, CA 94805
Retail pad in a Target-anchored shopping center.
Property Size12,255 SF
Price / SF$423.91
Days on Market274
Property Features for 4200 Macdonald Avenue
General Information
Standard status
Active
Size
12,255 SF
Property subtype
Retail
Building Details
Building Size
12,255 SF
Year Built
2008
Listing Agency:
NAI Northern California
(415) 297-5586
Listed By:
Mary Alam, MBA · License #CalDRE #01927340
(415) 297-5586
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 20
Last Checked: Aug 22 at 4:58AM
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 NAI Northern California
Investment Insights
Based on property information with market context.
The retail pad is located in the Macdonald 80 Shopping Center in Richmond, CA. The shopping center is anchored by a Target store and other retailers such as Wells Fargo, AT&T, Panda Express, and Sally Beauty. The property is leased to three tenants on a NNN basis. Two of the three tenants have occupied the property since it was built in 2008. DaVita Dialysis started in 2011. These long-term tenants occupy 75% of the property. The location is in the Richmond-El Cerrito-San Pablo Corridor. The property is located off Interstate 80 in Richmond, CA. Major tenants occupy the shopping center such as Wells Fargo, AT&T, Panda Express, Wingstop, and Sally Beauty. An electric car charging station is present onsite. The location is in the Richmond-San Pablo-El Cerrito Corridor. The property has staggered lease terms ranging from 2024 through 2030, plus renewal options for DaVita Dialysis. The property size is 12255 square feet.
Key Highlights
- Anchored by DaVita Dialysis (major tenant) and located within a Target‑anchored shopping center.
- High‑traffic location with monument signage directly off Interstate 80 (ADT 211,000).**
- NNN lease structure with staggered lease terms providing stable income.
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
$165,884
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
3.19%
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%
$3,317,680
$3.3M
Cap Rate 7%
$2,369,771
$2.4M
Cap Rate 9%
$1,843,156
$1.8M
Market Conditions
NOI Build-Up for 12,255 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
$294.1K $24.00/SF
− Vacancy
−$17.6K −$1.44/SF
EGI
$276.5K $22.56/SF
− OpEx
−$110.6K −$9.02/SF
NOI
$165.9K $13.54/SF
Area
Richmond, CA
Vacancy
6.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$3,317,680
Cap Rate 7%
$2,369,771
Cap Rate 9%
$1,843,156
Alternative Uses
Best Use
Healthcare Medical
$2.37M
$2.07M – $2.76M
NOI $165,884 @ 7.0% cap · market cap 3.19%
Second Best
Retail
$2.35M
$2.06M – $2.75M
NOI $164,836 @ 7.0% cap · market cap 3.17%
Theoretical Best
Multifamily LT 5
$2.93M
$2.56M – $3.42M
NOI $204,937 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,014
Businesses Nearby
305k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 27%
Shops & Services 24%
Home Improvements & Furnishings 20%
Dining 15%
Target
Superstores
81,403 visits/mo
0.2 miles
The Home Depot
Home Improvements & Furnishings
59,442 visits/mo
0.4 miles
Grocery Outlet Bargain Market
Groceries
30,655 visits/mo
0.5 miles
Wells Fargo
Shops & Services
21,338 visits/mo
0.1 miles
Chase Bank
Shops & Services
15,839 visits/mo
0.4 miles
Demographics for 94805, CA
14,958
Population
6,076
Households
2.5
Avg Household Size
41
Median Age
44%
College-Educated
86%
High-School Grad
1.9 sq mi
ZIP Area
7,873
Density / Sq Mi
$114,191
Median Household Income
$57,133
Median Earnings
$2,272
Median Rent
$738,800
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?
Shopping center - Retail pad in a Target-anchored shopping center.
Where is this shopping center located?
The property is located at 4200 Macdonald Avenue Richmond, CA.
What is the asking price?
The asking price for this property is $5,195,000.
What are key features of this property?
This property features: Anchored by DaVita Dialysis (major tenant) and located within a Target‑anchored shopping center.; High‑traffic location with monument signage directly off Interstate 80 (ADT 211,000).**; NNN lease structure with staggered lease terms providing stable income.
