MRE Commercial Real Estate - Emeryville, California

COMMERCIAL REAL ESTATE • BROKERAGE & INVESTMENTS
NORTHERN CALIFORNIA
Berkeley
Oakland Albany El Cerrito Richmond Alameda Emeryville Greater San Francisco Bay Area

FOR SALE
EXCEPTIONAL RETAIL INVESTMENT PROPERTY
1101 UNIVERSITY AVENUE
BERKELEY, CALIFORNIA
$4,930,000

>>> SOLD <<<

SITE: One of the most visible, highest profile sites on Berkeley’s most traveled corridor, 1101 University Avenue, Berkeley, California.

FULLY LEASED: Tenants are Pet Food Express, Subway Sandwiches, Little Caesar’s Pizza, Nails in Bloom and an AT&T Wireless cell site.

Upside: Current rates are below market and leases increase annually.

TRAFFIC COUNT: +-54,000 cars per day at this major signalized corner of University and San Pablo Avenue. University Avenue is the major traffic corridor between I-80 and most of the City of Berkeley including the University of California. Immediate neighbors include Wells Fargo Bank, the 99 Cent Store and, coming soon are 7-Eleven, T-Mobile and a new Berkeley City Library.

CAP RATE: 6%.

BUILDING SIZE: +/-8,367 rentable square feet (not including cell tower).

LOT SIZE: +/-13,100 square feet.

YEAR BUILT: 1996

PRICE PER SQ FT: $589.22 psf – Includes value of cell site income without allocation of space to the size of building.

PARKING: 21 parking stalls PLUS significant additional parking pursuant recorded agreements and easements with neighboring parcels.

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CONTACT: Richard Odenheimer - 510-450-1414 - ROdenheimer@MREcommercial.com - CA BRE License: 00990529

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MRE Commercial Real Estate CA BRE #01144094
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