936 Dewing Ave - Medical FOR SALE


Lafayette, CA 94549- Downtown Lafayette
$5,000,000 USD
925-974-0237
936 Dewing Ave, Lafayette, CA for Sale
$5,000,000 USD
Medical - FOR SALE
1/4
null | 5.7% Cap Rate

936 Dewing Ave
Lafayette, CA 94549
Downtown Lafayette


HIGHLIGHTS

  • Outstanding Downtown Lafayette location within easy walking distance to BART (and amenities)
  • Condominium map in place (4 separate condos) offering the option to sell off portions of the Property
  • Multi-family residential zoning offers future redevelopment potential
  • Stable income from existing tenants
  • Diminishing office supply as many Lafayette office property are being redeveloped to residential
  • Affluent community with average household incomes exceeding $220,000 in a 3-mile radius

OVERVIEW

Heritage Square (“Property or “Project”) in Lafayette, California - one of the San Francisco Bay Area’s premiere boutique communities. Located at 936 Dewing Avenue, the Project consists of three wood-framed office buildings divided into four commercial condominiums and situated on 5 parcels totaling 0.67 acres of land. Heritage Square benefits from an outstanding location in downtown Lafayette within easy walking distance to BART and a variety of retail and service amenities. The Property’s zoning designation is Multi-Family Residential – District A, calling for a potential density of up to 35 units per acre. The Property is currently 99 percent leased to 14 tenants with just one small vacancy. The majority of the tenants are on month to-month or short-term leases providing maximum flexibility for an owner/user to occupy. With strong occupancy diversified amongst many tenants, Heritage Square offers stable cash flow with future upside potential through redevelopment.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$569 USD /SF

CAP RATE

5.7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1945

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,602 SF

ZONING

MRO

APN/PARCEL ID

-

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 Notice.