1890 N Main St

Colliers International (Colliers) as Exclusive Advisor is pleased to offer for sale 1890 N. Main Street (“Property”) in Walnut Creek, CA, an outstanding development opportunity located in one of the S.F. Bay Area’s prime suburban housing markets. As the site is currently unentitled, a developer/builder will have the flexibility to secure entitlements for several possible development schemes, including market rate or affordable multifamily, for-sale stacked flat condominiums as well as senior apartments. The site encompasses +-22,278 SF (0.51AC) with current improvements that include a 6,792 SF building and large surface parking area. The property is currently leased on a short term basis to a retail operator as well as for overflow parking. The property is in the North Downtown Specific Plan area, adopted by the city in October 2019. The vision of the specific plan area is to promote a sustainable mix of uses including, both market rate and affordable housing as well as both horizontal and vertical mixed uses. The current zoning within the specific plan area is MU-R (Mixed-Use Residential) which is intended to encourage a combination of ground floor commercial uses with residential uses above, however ground floor commercial is not required, while residential must be the primary use. 1890 North Main Street is ideally located only 0.3 miles, or an 8-minute walk from the Walnut Creek BART station, and less than a mile to the high-end shops and restaurants located at the open-air Broadway Plaza Shopping mall. The investment appeal of this site is driven by the significant demand for all types of housing in the Walnut Creek area, coupled with the covered land play aspect of the offering which allows a developer to realize significant monthly income during the repositioning and entitlement period. CONTACT LISTING AGENT FOR THE COMPLETE OFFERING MEMORANDUM AND DEAL ROOM ACCESS.