For Sale: 100% Occupied Retail Center

630 Tennessee Street Vallejo, CA 94590

  • 7,012 Square Feet
  • Retail
  • For Sale

Summary Description

Colliers International, as Exclusive Advisor to the Seller, is pleased to present the opportunity to acquire the 100% fee simple interest in 630 TENNESSEE STREET, VALLEJO, CA (the “Property”), a 7,012 square foot retail and office strip center, also known as Victorian Center.  The property is currently 100% occupied with a mixture of retail tenants, visible along Tennessee Street, and office tenants, located in the rear of the building. The leases are all month-to-month, with the exception of one smaller office tenant, which leaves a significant upside opportunity for a new operator to fine-tune the leases and bring rents up to current market standards. This is an exceptional opportunity to acquire a true value-add property which is fully-leased and is a 6% Cap rate on existing income in the Bay Area.

Price: $999,000.00

Building Size: 7012 Square Feet

Area Available: 7,012 Square Feet

PRICE

$999,000

NOI

$62,894

RENTABLE SQ. FT.

7,012

PRICE/SQ. FT.

$142.47

CURRENT CAP RATE

6.30%

PROFORMA CAP RATE

8.30%

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