15650 San Pablo Ave San Pablo, CA 94806-1240
Property profile & analytics
15650 San Pablo Ave, San Pablo, CA 94806-1240
- Retail space
- 14,563 SF
- 1.70 lot acres
Property ID
US09-0434137
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Retail space
Property Details for 15650 San Pablo Ave
- Year built
- 1998
- Lot size
- 1.70 lot acres
- Zone code
- C
- Property type
- Retail space
- APN
- 405-170-004-7
- APU
- 4051700047
Description
This exceptional investment opportunity presents a fee-simple, single-tenant Walgreens pharmacy located at 15650 San Pablo Ave, San Pablo, CA 94806. The 13,855 square foot property sits on a 1.7-acre lot and boasts a strong 6.75% cap rate with a current NOI of $265,000. Built in 1999, the property benefits from a long-term net lease (NN) with Walgreens, expiring December 31, 2032, offering 8.1 years of remaining term plus six 5-year renewal options. The lease includes significant rent bumps: a 10% increase on January 1, 2027, resulting in an annual rent of $291,500, and another 10% increase on January 1, 2033. The property enjoys exceptional visibility at the signalized intersection of San Pablo Avenue and Richmond Parkway, experiencing combined daily traffic exceeding 46,000 vehicles. Its prime location within a densely populated area (over 100,000 residents within a 3-mile radius, average household income exceeding $104,000) and proximity to a planned major redevelopment project further enhances its value. The asking price is $3,925,925, translating to a price per square foot of $283.36. Walgreens' current annual rent per square foot is $19.13, significantly below market rates for this area, indicating substantial future income potential. The property's strong tenant, long lease term, built-in rent increases, and prime location make it an attractive investment opportunity.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- San Pablo
- County
- Contra Costa
- State
- California
- Longitude
- -122.331
- Latitude
- 37.9914
- CBSA code
- 41860
- CBSA name
- SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$47,693
$1,421,706
$1,882,803
$3,304,509
-
$0.00
$0.00
$0.00
