1231-1255 S California Blvd - Office FOR SALE


Walnut Creek, CA 94596
$18,270,000 USD
925-963-9766
1231-1255 S California Blvd, Walnut Creek, CA for Sale
$18,270,000 USD
Office - FOR SALE
1/4
null | 6% Cap Rate

1231-1255 S California Blvd
Walnut Creek, CA 94596


HIGHLIGHTS

  • Charles Schwab (S&P rated A+) anchored 4-tenant NNN investment
  • Habit Burger #21/370+ restaurants, nationally ranked per Placer.AI
  • In-place debt of $14.3m interest only (78% LTV) at 5.242%, maturing 12/31/2026
  • Long term NNN leases with a WALT of 7 years and 10 months
  • High-traffic intersection: S. California Blvd and Olympic Blvd (47,771+ CPD)
  • Property tax expense reduced over $110,000 annually (2025 vs 2023) lowering tenant occupancy cost by more than $6.00 psf annually.

OVERVIEW

Newmark is pleased to present the opportunity to acquire Centre Place I, an ±17,707 square foot, net-leased retail center at 1231-1255 S. California Blvd. in Walnut Creek, California. Anchored by Charles Schwab’s flagship retail banking branch and The Habit Burger Grill (#21 in the portfolio as reported by Placer AI). The fast-casual food tenants’ benefit from high daytime populations (120,000+ within 3 miles) and affluent demographics (avg. household income of $158,175 within 3 miles) which support strong sales. Habit Burger has been immensely successful at this location with sales volumes well above $1,000 per square foot. Walnut Creek is home to some of retail’s premier luxury tenants including Apple Store, Tiffany and Co., Tesla, Vineyard Vines, Restoration Hardware, and Life Time Fitness. Just two blocks from the property, Macerich Properties’ Broadway Plaza (anchored by Nordstrom, Macy's, Apple Store, and Life Time Fitness) highlights Walnut Creek’s retail core and is widely considered the East Bay’s retail crown jewel.

FOR SALE DETAILS

PRICE

$18,270,000 USD

PRICE/SF

$1,032 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Centre Place I

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.67 AC

LAND SF

29,142 SF

ZONING

C-R

APN/PARCEL ID

184-092-033

ASK ABOUT THIS PROPERTY

Mike ZylstraNewmarkMore Info
925-963-9766

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Mike ZylstraNewmarkMore Info
925-963-9766

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