NNN Leased Strip Center, Value-Add Potential 3105 Railroad Ave Mary Alam, MBA Joshua Ballesteros Pittsburg, CA 94565 Senior Vice President Investment Advisor O: 415.358.2111 O: 415.480.0214 M: 415.297.5586 M: 209.518.9025
[email protected] [email protected] CalDRE #01927340 CalDRE #02010271 OFFERING MEMORANDUM Table Of Contents Table of Contents 3 Section 1 Property Information 6 Section 2 Location Information 14 Section 3 Financial Analysis 18 Section 4 Sale Comparables 25 Section 5 Rent Comparables 34 Section 6 Demographics Section 1 THE OFFERING 1 Property Description Property Overview NAI Northern California is pleased to present for sale this well located strip center with 10 retail units and NNN leases. The property benefits from its strategic location in an emerging retail corridor just 0.7 miles from the Pittsburg Bart station and the California Delta Highway-4. Railroad Avenue enjoys close to a 20,000 vehicles per day traffic count which further adds to the visibility of this retail property and its success. This busy retail corridor includes, among others, the Atlantic Plaza Shopping Center, which features a wide variety of vendors such as FoodsCo, CVS, Goodwill, McDonald's, USPS, Little Caesar's, Mountain Mike's, Jackson Hewitt Tax and more Location Overview The subject is located on busy Railroad Avenue in Pittsburg, minutes from the Pittsburg Bart Station and busy Highway 4. It enjoys strong demographics of approximately 150,000 people within a five mile radius with an average household income of approximately $82,000 per year. Population growth within five miles has been phenomenal at nearly 12% between 2010 and 2018 and projected to be close to 6% in the next five years.