Building Details

Tenancy Multi

Listing Agency: KW Commercial South Bay

Listed By: Mark Von Kaenel · License #1189869

Source: Crexi

Added: Sep 10 Changed: Sep 16 Last Checked: Sep 22 at 7:00PM

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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 KW Commercial South Bay

Investment Insights

Based on property information with market context.

This strip mall comprises approximately 4,840 SF of commercial space on an approximately 18,553 SF lot. Four occupied storefronts are leased to 7-Eleven, Blanca-Barrios, Curity's Beauty, and Total Wireless, creating a varied tenant roster within one retail property. The asset is positioned along Broadway Street in King City, California, with access to an established commercial corridor and proximity to Highway 101. The property is reported at a 6.12% cap rate.

Key Highlights

• ±4,840 SF of commercial space
• ±18,553 SF lot
• Four occupied tenant spaces

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

$70,107

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%

$1,402,140 $1.4M

Cap Rate 7%

$1,001,529 $1.0M

Cap Rate 9%

$778,967 $779.0K

Market Conditions

NOI Build-Up for 4,840 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

$104.5K $21.60/SF

− Vacancy

−$4.4K −$0.91/SF

EGI

$100.2K $20.69/SF

− OpEx

−$30.0K −$6.21/SF

NOI

$70.1K $14.48/SF

Area

Monterey County, CA

Vacancy

4.20%

Lease Rate

$21.60 /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%

$1,402,140

Cap Rate 7%

$1,001,529

Cap Rate 9%

$778,967

Alternative Uses

Best Use

Retail

$1.00M

$876.3K – $1.17M (±1% cap)

NOI $70,107 @ 7.0% cap · market cap 3.19%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.85M

$1.62M – $2.16M (±1% cap)

NOI $129,364 @ 7.0% cap · market cap 5.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Strip malls

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office HVAC Service Skin Care Clinic Kitchen & Bath Showroom

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

686

Businesses Nearby

240k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 46% Shops & Services 39% Groceries 10% Home Improvements & Furnishings 3%

McDonald's Dining

32,503 visits/mo 0.4 miles

Safeway Groceries

24,733 visits/mo 0.3 miles

Starbucks Dining

19,718 visits/mo 0.3 miles

ARCO Shops & Services

18,365 visits/mo 0.4 miles

Burger King Dining

16,048 visits/mo 0.4 miles

Demographics for 93930, CA

16,206

Population

4,744

Households

3.4

Avg Household Size

30

Median Age

15%

College-Educated

59%

High-School Grad

343.3 sq mi

ZIP Area

47

Density / Sq Mi

$72,555

Median Household Income

$32,357

Median Earnings

$1,537

Median Rent

$404,000

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

Questions? Ask Rey

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What type of property is this? Where is this strip malls located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Strip mall - Four occupied storefronts support an income-producing retail property along an established commercial corridor.

Where is this strip mall located?

The property is located at 801-807 Broadway Street King City, CA.

What is the asking price?

The asking price for this property is $2,199,000.

What are key features of this property?

This property features: ±4,840 SF of commercial space; ±18,553 SF lot; Four occupied tenant spaces