CAP Rate: 5.65%
Net Operating Income: $732,486
Square-Footage (Total): 50,089
Market: East Bay/Oakland
The Kase Group is pleased to present a brand new 10 year net leased Big Lots and Octapharma, both with corporate guarantees. There are scheduled increases within the initial terms and during the options. The assets are located within the San Pablo Towne Center which is a premier Bay Area shopping center with several co-tenants including Dollar Tree, Ross, Jack in the Box, Taco Bell, Jamba Juice, Popeye’s and Starbucks.
San Pablo Towne Center is adjacent to I-80 which carries over 188,000 cars per day with on/off-ramps at San Pablo Dam Road. This is a rare opportunity to own an excellent net lease deal with minimal landlord obligations.
San Pablo is a city in Contra Costa County, California. The city of Richmond surrounds nearly the whole city.
The city is traversed by two principal creeks, Wildcat Creek and San Pablo Creek, both of which originate in the ranges to its southeast. The minor Rheem Creek also runs through the city. It is also traversed along its northeast limits by the Hayward Fault, a major branch of the San Andreas Fault which lies to the west. Interstate 80 (Eastshore Freeway) passes through San Pablo.
There are several communities to the north of the City and separated from the City, but which have San Pablo, California mailing addresses. These include the census areas of Tara Hills, Bayview, and Montalvin.