480 Hartz Ave - Storefront FOR SALE


Danville, CA 94526
$5,450,000 USD
925-974-0237
480 Hartz Ave, Danville, CA for Sale
$5,450,000 USD
Storefront - FOR SALE
1/3
null | 4.75% Cap Rate

480 Hartz Ave
Danville, CA 94526


HIGHLIGHTS

  • Rare opportunity to acquire two trophy restaurant assets in downtown Danville, CA
  • Great location adjacent to 200 stall Town of Danville parking lot (free)
  • Under market rents with ability to “mark to market” upon initial term expiration
  • Scheduled rent increases
  • Danville is prestigious and affluent community with average household incomes exceeding $200,000 with a 3-mile radius
  • 70 yards from the new “600 Hartz” mixed use project with ground floor retail and 37 luxury residential units

OVERVIEW

Rare opportunity to acquire 44 Church Street (“Bridges”)and 480 Hartz Avenue (“Kaia’s”) in downtown Danville, California. The iconic restaurant buildings are 100% leased on a net basis with the Bridges expiring November 30, 2030 and Kaia’s expiring June 30, 2030. Located in the very heart of affluent downtown Danville, the properties are immediately adjacent to the Village Theatre and the 200-stall Village Theatre municipal parking lot which provides ample parking for restaurant patrons. The existing rent for both Bridges and Kaia’s is currently well below-market giving an investor the ability to increase income significantly if the tenants vacate or exercise their “Fair Market Value” options to extend. With rustic appeal and A+ locations, these buildings represent a unique occasion to invest in generational assets.

FOR SALE DETAILS

PRICE

$5,450,000 USD

PRICE/SF

$1,624 USD /SF

CAP RATE

4.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kaia's and Bridges - Net Leased

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

R-B/S-2

APN/PARCEL ID

208-022-047-4

ASK ABOUT THIS PROPERTY

Forrest GherloneNewmarkMore Info
925-974-0237

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Forrest GherloneNewmarkMore Info
925-974-0237

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.