EXCEPTIONAL RETAIL INVESTMENT PROPERTY
1101 UNIVERSITY AVENUE
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