Downtown Danville Retail/Office
For Sale
Contact for pricing
321 Hartz Avenue, Danville, CA 94526
Office and retail condominiums in historic Downtown Danville.
Property Size12,150 SF
Lot Size0.25 Acres
Price / SF$180.66
Days on Market1978
Property Features for 321 Hartz Avenue
General Information
Standard status
Active
Size
12,150 SF
Class
B
Lot size
0.25 Acres
Property subtype
Office
Zoning
DBD1 , Zoned for Retail/Restaurant
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1985
Buildings
1
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
Lockehouse Retail Group
(650) 692-3400
Listed By:
Adria Giacomelli · License #CA
Source:
Crexi
Added: Apr 2, 2021
Changed: Aug 26
Last Checked: Aug 29 at 4:54AM
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 Lockehouse Retail Group
Investment Insights
Based on property information with market context.
Located in the heart of Downtown Danville, this multi-tenant retail and office building was built in 1985. The property, situated on approximately 0.25 acres, has a total area of approximately 12,150 square feet. It is prominently located near the corner of Diablo Road and Hartz Avenue, immediately adjacent to The Clock Tower Parking Lot. The ground floor retail condominiums are generally limited to retail, restaurant, bar/nightclub lounge, or tasting room uses, following the uses of Downtown Business District 1 (DBD1). Office uses are permitted on the second floor. The property offers convenient accessibility to various retail and restaurant amenities, visibility, charm, and easy access to the I-680 freeway.
Key Highlights
- Prime location in the heart of Downtown Danville, adjacent to The Clock Tower Parking Lot.
- Easy access to I‑680 freeway.
- Versatile use options: retail, restaurant, bar/nightclub lounge, tasting room, and office.
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
$188,629
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
8.59%
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%
$3,772,580
$3.8M
Cap Rate 7%
$2,694,700
$2.7M
Cap Rate 9%
$2,095,878
$2.1M
Market Conditions
NOI Build-Up for 12,150 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
$328.1K $27.00/SF
− Vacancy
−$26.2K −$2.16/SF
EGI
$301.8K $24.84/SF
− OpEx
−$113.2K −$9.32/SF
NOI
$188.6K $15.53/SF
Area
Contra Costa County, CA
Vacancy
8.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,772,580
Cap Rate 7%
$2,694,700
Cap Rate 9%
$2,095,878
Alternative Uses
Best Use
Retail
$4.44M
$3.88M – $5.18M
NOI $310,699 @ 7.0% cap · market cap 14.15%
Second Best
Office B
$3.14M
$2.75M – $3.66M
NOI $219,684 @ 7.0% cap · market cap 10.01%
Theoretical Best
Office A
$4.59M
$4.02M – $5.36M
NOI $321,489 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,051
Businesses Nearby
Explore this area
Business Placement
Demographics for 94526, CA
33,064
Population
12,265
Households
2.7
Avg Household Size
46
Median Age
69%
College-Educated
98%
High-School Grad
13.2 sq mi
ZIP Area
2,505
Density / Sq Mi
$216,974
Median Household Income
$104,261
Median Earnings
$3,501
Median Rent
$1,588,000
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - Office and retail condominiums in historic Downtown Danville.
Where is this mixed-use property located?
The property is located at 321 Hartz Avenue Danville, CA.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Prime location in the heart of Downtown Danville, adjacent to The Clock Tower Parking Lot.; Easy access to I‑680 freeway.; Versatile use options: retail, restaurant, bar/nightclub lounge, tasting room, and office.
