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151-157 Park Pl

18,405 SF 100% Leased Retail Building Richmond, CA 94801 £3,873,128 (£210/SF) 7% Net Initial Yield

Investment Highlights

  • ±18,405 SF investment or owner/user sale
  • The building currently has a long-time tenant with multiple California locations and an established pizzeria on the ground floor

Executive Summary

Located in the heart of the historical district of Point Richmond, at the corner of Park Place and W. Richmond Avenue, this unique offering is a rare owner/user or investment opportunity. Just off the Castro exit of I-580, the area attracts clients and employees alike in this amenity rich, walkable locale.
The original two buildings were combined in 2017 into one contiguous building and parcel. 151-157 Park Place was renovated to ±18,405 SF of office space and ±21,550 SF of building area including ±3,145 SF of garage space. The building currently has a long-time tenant with multiple California locations and an established pizzeria on the ground floor.
This property is elevator and HVAC served and handicapped accessible. High-end finishes with kitchenettes and restrooms on each floor, this property could be either usable by one tenant or split up for a multi-tenant investment property. The second floor offers a balcony off the kitchen in the back of the property.
A finished alley way connects to Railroad Avenue at the back of the building. Parking is abundant at this location with seven (7) gated and enclosed parking spaces below the building, as well as gravel parking in the rear of the building with eight (8) additional spaces. There is also street parking in front of the building on Park Place. The parking and garage is accessible through an agreement with the neighboring ownership.

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
18,405 SF
Building Class
C
Year Built/Renovated
1992/2017
Price
£3,873,128
Price Per SF
£210
Net Initial Yield
7%
NOI
£271,119
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Building FAR
1.99
Lot Size
0.21 AC
Zoning
MCM-2 - Commercial Mixed-Use
Parking
15 Spaces (0.81 Spaces per 1,000 SF Leased)
Frontage
43 ft on Park Pl
Walk Score ®
Very Walkable (81)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Mechanics Bank
Starbucks
StoragePRO

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
558-122-047-1
Land Assessment
£318,144
Improvements Assessment
£2,106,668
Total Assessment
£2,424,813
  • Listing ID: 27468546

  • Date on Market: 09/01/2023

  • Last Updated:

  • Address: 151-157 Park Pl, Richmond, CA 94801

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