Walnut Creek Office Redevelopment
1200-1350 Montego Walnut Creek, CA 94598
1200-1350 Montego, Walnut Creek, CA, 94598
Contact for pricing
For Sale
Contact for pricing
Pending
Three vacant office buildings on 5.52 acres near John Muir Hospital.
Property Size122,821 SF
Lot Size5.52 Acres
Days on Market644
Property Features for 1200-1350 Montego
General Information
- Standard status
- Pending
- Size
- 122,821 SF
- Lot size
- 5.52 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1980
Listing agency
Colliers International Walnut Creek
(925) 279-5580
Listed by
Larry Easterly · License #CA 00958987
Source
Crexi
Added: Oct 16, 2024 Updated: Jul 10 at 3:43PM Checked: Jul 21 at 5:09AM
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 International Walnut Creek
Investment Insights
Based on property information with market context.
Montego Ridge is a three-building office complex, totaling approximately 122,820 square feet of buildings over 5.52 acres of land. The complex includes 1200 Montego with approximately 31,258 square feet, 1250 Montego with approximately 24,923 square feet, and 1350 Montego with approximately 66,640 square feet. The property is located near John Muir Medical Center, the region’s primary trauma center, and one mile from downtown Walnut Creek. The property consists of three two-story office buildings with over 1,000 feet of frontage on Ygnacio Valley Road. There are 338 on-site designated parking spaces, 37 street parking spaces, and 16 additional parking spaces available across the street. Each building is located on a separate parcel, and the buildings are available individually, in combination, or as an entire campus. Potential uses for the site include office, medical office, assisted living, and other residential care uses. The previous ownership invested more than $3.4 million in securing the roof, equipment, landscaping and exterior renovations. The property is currently vacant.
Key Highlights
- Unique investment/redevelopment opportunity on 5.52 acres next to John Muir Hospital.
- Three office buildings totaling approximately 122,820 square feet, offering flexible sale/lease options.
- Located one mile from downtown Walnut Creek and half a mile from John Muir Medical Center.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $3.61M | $29.40 |
| − Vacancy | −$650.0k | −$5.29 |
| EGI | $2.96M | $24.11 |
| − OpEx | −$740.2k | −$6.03 |
| NOI | $2.22M | $18.08 |
122,821 SF · lease $29.40/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$31.72M
$27.76M – $37.01M
NOI $2,220,727 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$46.43M
$40.62M – $54.16M
NOI $3,249,844 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Three vacant office buildings on 5.52 acres near John Muir Hospital.
Where is this office building located?
The property is located at 1200-1350 Montego Walnut Creek, CA.
What is the asking price?
The asking price for this property is $30,000,000.
What are key features of this property?
This property features: Unique investment/redevelopment opportunity on 5.52 acres next to John Muir Hospital.; Three office buildings totaling approximately 122,820 square feet, offering flexible sale/lease options.; Located one mile from downtown Walnut Creek and half a mile from John Muir Medical Center.
