1280 Willow Pass Rd - Freestanding FOR SALE


Concord, CA 94520
$21,900,000 USD
949-221-1821
1280 Willow Pass Rd, Concord, CA for Sale
$21,900,000 USD
Freestanding - FOR SALE
1/7
null | 6.75% Cap Rate

1280 Willow Pass Rd
Concord, CA 94520


HIGHLIGHTS

  • Bay Area Urban Infill Location | 35 minutes from downtown San Francisco and 20 minutes from Oakland
  • Highly Successful & Industry Leading Retailers | 100% occupied by national, credit tenants, Hobby Lobby & Guitar Ctr | +$2.3B in Sales 2023
  • Strongest Intersection in Trade Area | Willow Pass Road and Diamond Way (64,000 VPD) | Nearby I-680 (144,817 VPD) and Highway 242 (127,315 VPD)
  • Long Term Tenant Occupancy & Recent Lease Extensions Exercised | Guitar Center over 20 years and Hobby Lobby over 10 years with 5 year option
  • Located Near High-End Lifestyle Center and High Density Residential Developments
  • Significant Barriers to Entry | Long Term Higher and Better Use Potential with WMX Zoning

OVERVIEW

Faris Lee Investments is pleased to present the rare opportunity to acquire a fully stabilized 2 tenant offering with national retailers located in one the most sought after communities in the Core Bay Area - Concord. The property is occupied by Hobby Lobby and Guitar Center, both of which boast extremely high performance at this location. For both retailers, 1280 Willow is the only location serving the densely populated and highly affluent County of Contra Costa. The center’s service oriented tenants make it a desirable destination for the surrounding family-oriented neighborhoods. This area has over 146,784 permanent residents with average household incomes over $129,899 within a 3-mile radius. The property is positioned at one of the most heavily trafficked intersections in the trade area Willow Pass Road and Diamond Way (64,000 VPD). It is also flanked by 680 Freeway (144,817 VPD) and State Route 242 (127,315 VPD), with direct off ramp access from the 680, the main freeway running through Concord. Investors stand to benefit with recent lease extensions by both tenants which shows their long term commitment to the site with no alternative options available in a highly supply constrained area. In the long term, 1280 Willow presents an investor with an extremely rare redevelopment opportunity. The property is currently zoned and ideally suited for mixed use, office, hospitality, or further retail development, and will likely be zoned for high-density residential in the coming years.

FOR SALE DETAILS

PRICE

$21,900,000 USD

PRICE/SF

$296 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hobby Lobby & Guitar Ctr| Bay Area | 64K VPD

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Supermarket, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

296

LAND DETAILS

LAND ACRES

6.38 AC

LAND SF

277,913 SF

ZONING

WMX

APN/PARCEL ID

127-220-021-1

ASK ABOUT THIS PROPERTY

Donald MacLellanFaris Lee InvestmentsMore Info
949-221-1821

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

Donald MacLellanFaris Lee InvestmentsMore Info
949-221-1821

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