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CASTRO VALLEY RETAIL CENTER, Castro Valley, CA

CASTRO VALLEY RETAIL CENTER

Castro Valley, CA

Price $4,012,000
Cap Rate 5.00%
NOI $200,577
Lease Term Various
Lease Type Contact For Details
Rental Increases Various
Year Built Contact For Details
Building Size 8,224 SF
Lot Size 0.58 Acres (25,415 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

100% LEASED MULTI-TENANT RETAIL-ASSET WITH SCHEDULED RENTAL INCREASES
» 100% leased multi-tenant retail asset
» Multi-tenant asset allows for investment diversification
» Scheduled rental increases for all leases, providing a hedge against inflation
» Complimentary mix of “Amazon-proof” retailers

LOCATED IN A HIGHLY POPULATED, GROWING, AND AFFLUENT CALIFORNIA CITY
» Located near the signalized hard corner of Castro Valley Boulevard and Redwood Road (62,703 AADT)
» Nearby access to California thoroughfares, including Interstate 580 (199,000 AADT)
» Population of 341,331 within a five-mile radius of the site
» Average annual household income of $118,091 within three miles
» Projected 16 percent average annual household income increase within one mile of the site in the next five years

CENTRAL LOCATION NEAR MAJOR EMPLOYERS, RETAILERS, AND COMMUNITY HUBS / TRANSIT ORIENTED
» Four miles from California State University, East Bay (14,823 students, $305.2 million in labor income)
» Surrounded by a strong mix of local and national retailers, including Trader Joe’s, Safeway, Lucky, CVS Pharmacy, Walgreens, T.J. Maxx, Chipotle, Taco Bell, Burger King, Starbucks, and many more
» Within a three-mile radius of major Castro Valley tourist attractions, including Cull Canyon Regional Recreation Area, Redwood Canyon Golf Course, Don Castro Regional Recreation Area, and Lake Chabot
» 9.5 miles from Oakland International Airport (4.62 million passengers in 2020)
» Common gateway to San Francisco (10.2 million visitors, $2.3 billion in visitor spending in 2020)
» Less than one mile from BART Castro Valley Station



Property Description

The site is strategically located near the busy signalized hard corner of Castro Valley Boulevard and Redwood Road (62,703 AADT). The property features nearby access to California thoroughfares, including Interstate 580 (199,000 AADT). The site is located in an area with a population of 341,331 within a five-mile radius. The property is located in an affluent area, with an average annual household income of $118,091 within three miles of the site. The average annual household is projected to increase 16 percent within one mile of the site in the next five year, poising Castro Valley and the property for concurrent growth.

The property is an irreplaceable infill location along one of Castro Valley’s primary retail corridors, attracting significant crossover shopping to the location. Visibility is increased by the site’s promeninent location surrounded by a strong mix of local and national retailers, including Trader Joe’s, Safeway, Lucky, CVS Pharmacy, Walgreens, T.J. Maxx, Chipotle, Taco Bell, Burger King, Starbucks, and many more. The property is within a three-mile radius of major Castro Valley tourist attractions, including Cull Canyon Regional Recreation Area, Redwood Canyon Golf Course, Don Castro Regional Recreation Area, and Lake Chabot. The subject property resides four miles from California State University, East Bay (14,823 students, $305.2 million in labor income) and 9.5 miles from Oakland International Airport (4.62 million passengers in 2020). The site also serves as a common gateway to San Francisco, which experienced 10.2 million visitors and $2.3 billion in visitor spending in 2020.

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