814 San Pablo Ave Albany, CA 94706
- Retail properties
- 2,192 SF
Current Use by Public Records
- Retail properties
Property Details for 814 San Pablo Ave
- Year built
- 1923
- Property size
- 2,192 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This stabilized retail property in Albany, CA, offers a compelling investment opportunity. Located at 814-816 San Pablo Ave, this 2,192 square foot, single-story building features two retail units currently boasting 100% occupancy. One tenant, a dry cleaner, has operated successfully for over 30 years, while the other, a Farmers Insurance office, has been in place since June 30, 2019. The current lease terms are gross, with annual renewal options and negotiable rent bumps. The property sits on a 3,500 square foot lot and benefits from a walk score of 89%, placing it within easy reach of Solano Ave, University Village, and El Cerrito Plaza. Built in 1923, the building is well-maintained and presents excellent curb appeal. The current Net Operating Income (NOI) is $63,735, resulting in a 9.62% cap rate. The asking price is $899,000, translating to $433.39 per square foot and $271.42 per square foot for the land. The property is zoned for retail use and presents a strong potential for future income growth. Leases expire February 27, 2025. This is a rare opportunity to acquire a well-located, income-producing retail property in a desirable Bay Area location.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Alameda
- State
- California
- Longitude
- -122.299
- Latitude
- 37.8919
