Retail Property with Corporate
For Sale
Contact for pricing
626 Contra Costa Boulevard, Pleasant Hill, CA 94523
Retail property for sale with long-term La-Z-Boy operator.
Property Size14,359 SF
Price / SF$510.13
Days on Market109
Property Features for 626 Contra Costa Boulevard
General Information
Standard status
Active
Size
14,359 SF
Total Parking Spaces
97
Property subtype
Retail
Investment Type
Net Lease
Net Operating Income
$457,800
Building Details
Year Built
1981
Tenancy
Single
Listing Agency:
CP Partners
(650) 692-3400
Listed By:
Rachel Kram · License #CA 02021048
Source:
Crexi
Added: May 13
Changed: Aug 27
Last Checked: Aug 26 at 5:19PM
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 CP Partners
Investment Insights
Based on property information with market context.
This commercial property features a franchisee-level corporate guaranty with a long-term La-Z-Boy operator. The operator currently has 21 locations in Northern California and is expanding. The sale lease back proceeds will be used to fund further expansion. The property encompasses 14,359 square feet.
Key Highlights
- Franchisee level corporate guaranty.
- Long‑term La‑Z‑Boy operator as tenant.
- Operator has 21 locations and is growing.
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
$367,187
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
5.01%
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%
$7,343,740
$7.3M
Cap Rate 7%
$5,245,529
$5.2M
Cap Rate 9%
$4,079,856
$4.1M
Market Conditions
NOI Build-Up for 14,359 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
$560.0K $39.00/SF
− Vacancy
−$35.4K −$2.47/SF
EGI
$524.6K $36.53/SF
− OpEx
−$157.4K −$10.96/SF
NOI
$367.2K $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%
$7,343,740
Cap Rate 7%
$5,245,529
Cap Rate 9%
$4,079,856
Alternative Uses
Best Use
Retail
$5.25M
$4.59M – $6.12M
NOI $367,187 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.43M
$4.75M – $6.33M
NOI $379,939 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,714
Businesses Nearby
1.3M
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 31%
Dining 29%
Groceries 13%
Superstores 11%
Macy's
Apparel
176,668 visits/mo
0.4 miles
Target
Superstores
154,188 visits/mo
0.4 miles
In-N-Out Burger
Dining
83,406 visits/mo
0.3 miles
Burlington
Apparel
76,707 visits/mo
0.3 miles
Seafood City
Groceries
64,420 visits/mo
0.5 miles
Demographics for 94523, CA
35,272
Population
14,585
Households
2.4
Avg Household Size
42
Median Age
56%
College-Educated
96%
High-School Grad
7.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$142,622
Median Household Income
$74,832
Median Earnings
$2,479
Median Rent
$1,038,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Showroom - Retail property for sale with long-term La-Z-Boy operator.
Where is this showroom located?
The property is located at 626 Contra Costa Boulevard Pleasant Hill, CA.
What is the asking price?
The asking price for this property is $7,325,000.
What are key features of this property?
This property features: Franchisee level corporate guaranty.; Long‑term La‑Z‑Boy operator as tenant.; Operator has 21 locations and is growing.
