Red Robin NNN Investment
For Sale
Contact for pricing
2385 Sand Creek Rd, Brentwood, CA 94513
Single tenant Red Robin with extended lease through 2029.
Property Size5,618 SF
Lot Size0.92 Acres
Price / SF$530.62
Days on Market683
Property Features for 2385 Sand Creek Rd
General Information
Standard status
Active
Size
5,618 SF
Lot size
0.92 Acres
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$186,340
Building Details
Year Built
2009
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Colliers - Las Vegas, Nevada
(702) 735-5700
Listed By:
Deana Marcello · License #NV 174174
Source:
Crexi
Added: Oct 9, 2024
Changed: Aug 8
Last Checked: Aug 22 at 12:22PM
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 Colliers - Las Vegas, Nevada
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire a single tenant net-leased Red Robin Gourmet Burgers & Brews, situated within The Streets of Brentwood, a ±358,700 SF open-air retail and entertainment destination. The property features a ±5,618 SF freestanding building on a ±0.92 AC parcel. Red Robin has operated at this location since 2009 and has extended their lease for 5 years through 2029. The asset operates under an Absolute NNN Ground Lease, with zero landlord responsibilities and 10% rent increases every five years, including options. The property benefits from frontage on Sand Creek Rd., just off State Route 4, with combined traffic counts exceeding ±86,558 VPD. The Streets of Brentwood attracts 4.4 million annual visits and includes anchors and national co-tenants such as Sprouts, AMC Theatre, Barnes & Noble, DSW, Ulta, Bath & Body Works, BJ’s Restaurant & Brewhouse, and Black Angus. Several developments are under construction adjacent to the site, including a 4-story hotel, Sutter Health Medical, and Dutch Bros Coffee. The Sand Creek Road extension will provide direct access to the center for the city of Antioch.
Key Highlights
- Absolute NNN Ground Lease offers zero landlord responsibilities.
- Located within The Streets of Brentwood, a premier ±358,700 SF open‑air retail and entertainment destination attracting 4.4 million annual visits.
- Red Robin has been operating at this location since 2009 and recently extended their lease for 5‑years through 2029.
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
$100,393
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
3.37%
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%
$2,007,860
$2.0M
Cap Rate 7%
$1,434,186
$1.4M
Cap Rate 9%
$1,115,478
$1.1M
Market Conditions
NOI Build-Up for 5,618 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
$146.3K $26.04/SF
− Vacancy
−$12.4K −$2.21/SF
EGI
$133.9K $23.83/SF
− OpEx
−$33.5K −$5.96/SF
NOI
$100.4K $17.87/SF
Area
Contra Costa County, CA
Vacancy
8.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,007,860
Cap Rate 7%
$1,434,186
Cap Rate 9%
$1,115,478
Alternative Uses
Best Use
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,393 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,652 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94513, CA
67,394
Population
22,546
Households
3
Avg Household Size
39
Median Age
38%
College-Educated
92%
High-School Grad
78.9 sq mi
ZIP Area
854
Density / Sq Mi
$139,736
Median Household Income
$65,531
Median Earnings
$2,449
Median Rent
$793,900
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Single tenant Red Robin with extended lease through 2029.
Where is this conventional restaurant located?
The property is located at 2385 Sand Creek Rd Brentwood, CA.
What is the asking price?
The asking price for this property is $2,981,000.
What are key features of this property?
This property features: Absolute NNN Ground Lease offers zero landlord responsibilities.; Located within The Streets of Brentwood, a premier ±358,700 SF open‑air retail and entertainment destination attracting 4.4 million annual visits.; Red Robin has been operating at this location since 2009 and recently extended their lease for 5‑years through 2029.
