15650 San Pablo Avenue, San Pablo, CA
Deal Type:
Net Lease
Cap Rate:
Current Rent:
Lease Type:
Landlord Responsibilities:
Roof & Structure
Lease Expiration Date:
Approx. 9 years
Renewal Options:
5, Five year
Building Sq. Ft.:
13,905 SF
Rent Increases:
10% on January 1, 2027 and at the first option
Site Size:
1.7 Acres

Investment Highlights

  • Core San Francisco Bay Area Location: The City of San Pablo is centrally located 22 miles from San Francisco and 15 miles from Oakland
  • Rare 10% Rental Increase: A buyer will realize a 10% rent increase on January 1, 2027 and again if Walgreens exercises its first option
  • Strong Demographics: Over 225,000 residents with an average income exceeding $120,000 in a 5-mile radius
  • Below Market Rent: Walgreens low base rent of $1.49psf per month provides significant future upside opportunity
  • Location: Centrally located at a Hard corner location at the intersection of San Pablo Ave and Richmond Parkway, with traffic counts in excess of 63,000 vehicles per day
  • Recent Lease Extension: In 2022 Walgreens negotiated the early exercise of an option demonstrating their commitment to this site

Listing Agents

Dean Copans

Managing Director
650 465 3993
[email protected]
andy frazier stream capital partners

Andy Frazier

Vice President
773 301 3073
[email protected]

Jordan Shtulman

Managing Principal
847 226 4133
[email protected]

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