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22927250
22927251

1997 Tice Valley Blvd, Walnut Creek, CA 94595 For Sale

LS
CA CA 01443387
Fisher James Capital
PD
CA 01750064
Fisher James Capital
Listed by Fisher James Capital
$9,142,000
462 days on market
Updated 29 days ago

Savers

Details
Property Type Retail
Sub Type Freestanding
Square Footage 17,695
Cap Rate 6%
NOI $548,545
Tenancy Single
Brand/Tenant Savers
Lease Type Absolute NNN
Lease Term 10.3
Lease Expiration 05/31/2032
Remaining Term 5.9
Rent Bumps Yes
Lease Options two (2) five-year options
Broker Co-Op Yes
Year Built 1995
Buildings 1
Stories 1
Acreage 1.440
Zoning PD
Investment Type Net Lease
Lease Commencement 02/01/2022
Ground Lease No

Legacy Asset in Infill Bay Area Location with Significant Barriers to Entry

Marketing description

The subject property is prominently located with excellent access and visibility at the signalized hard corner of Tice Valley Boulevard and Rossmoor Parkway (combined 36,800 AADT), less than 2 miles from the I-680/Highway 24 junction (combined 379,500 AADT). Highway 24 links Walnut Creek to Oakland to the West. I-680 links Walnut Creek to Pleasant Hill, Concord, and Martinez to the north and the East Bay’s Tri-Valley area to the south. The site benefits from robust and affluent demographics within a 5-mile radius, with a total daytime population of 191,794 and average household income of $224,537. In addition, 73.9% of the population has obtained a Bachelor’s Degree or higher, and 68.7% of households earn $100,000 annually or more.

The site sits adjacent to the thriving Rossmoor Walnut Creek, a 1,800-acre “active adult” community with more than 7,000 residents. Rossmoor’s amenities and attraction include five clubhouses, two golf courses, fitness center with pools, large event center, bus transportation, library, private security, recreation department, media department, farmers’ market, and more than 200 clubs and organizations.

The subject property sits directly across from Rossmoor Shopping Center, which includes Safeway, CVS, Starbucks, Chase Bank, Wells Fargo, Crumbl Cookies, Mountain Mike’s Pizza, Chevron, and more. Tice Valley Community Gym & Park also sits directly across from the site and attracts families and individuals of all ages for sports, events, and classes.

The property benefits from its close proximity to Downtown Walnut Creek. Walnut Creek’s downtown corridor is a vibrant commercial and cultural hub that serves as a regional draw for the East Bay and beyond. The city is anchored by its popular Main Street, the historic and cultural hub of downtown, and Broadway Plaza, its premier open-air shopping center. Broadway Plaza has been extensively renovated in recent years and includes high-end retailers such as Nordstrom, Life Time, Pinstripes bowling & bocce, Louis Vuitton, Apple, Tiffany & Co., Lululemon, Nespresso, True Food Kitchen, Boudin, Original Joe’s, and Zara.

Walnut Creek (population 69,152) is a city in Contra Costa County located approximately 15 miles east of Oakland and 25 miles northeast of San Francisco. The city is centrally located and serves as a transit hub linking major Bay Area arterials: Highway 24, which links Walnut Creek to San Francisco and Oakland, joins the I-680 arterial, which provides access to San Jose and Sacramento.

In addition, the city benefits from the presence of two Bay Area Rapid Transit (BART) stations, which provide service to Oakland, San Francisco, and the greater East Bay. The city’s central location, with convenient access to public transit and major roadways, makes it a desirable residential community for commuters traveling throughout the Bay Area.

Investment highlights

  • Absolute NNN Lease to Savers with Approximately 7 Years Remaining

  • 10% Rental Escalations throughout Primary Term & Options

  • Zero Landlord Maintenance Responsibilities

  • TVI, Inc. (dba Savers) is the Largest For-Profit Thrift Store Chain in the World with 315 Locations in the U.S., Canada & Australia and Reported Revenue of $4.7 Billion in 2023

  • Rare Covered Land Play with Strong Underlying Land Values

  • Coveted San Francisco Bay Area Location in Close Proximity to Downtown Walnut Creek

  • Less than 2 Miles from I-680/Hwy 24 Junction - Combined 349,500 AADT

  • Daytime Population of 191,794 within 5 Miles

  • Average Household Income of $224,537 within a 5-Mile Radius

Listing Contacts

LS
CA CA 01443387
Fisher James Capital
PD
CA 01750064
Fisher James Capital
Listed by Fisher James Capital

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$548,545.00
$45,712.08/mo

Valuation Metrics

0
DSCR
6%
Cap Rate
6%
ROI

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Additional Information

Name
Lindsey Snider
License
CA 01443387
Brokerage
Fisher James Capital
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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