Prime Shadow Anchored Shops 10.21% CAP w/ Upside Vallejo CA
CVS/Dollar Tree Shadow Anchored Shops 10.21% CAP Rate w/ Upside
Marketing description
The Ovaness Rostamian Group of Marcus & Millichap is pleased to present 3612–3672 Sonoma Blvd., Vallejo, CA, a 14,240-square-foot daily needs shopping center strategically positioned in one of the North Bay’s strongest growth markets. This investment offers stable, diversified cash flow with significant upside potential. Boasting 234 feet of frontage along Sonoma Blvd. (Highway 29)—Vallejo’s primary retail and commuter corridor—the property enjoys combined exposure to over 40,000 vehicles per day (VPD) at Sonoma Blvd. and Redwood Street. Tenants benefit from excellent visibility, multiple ingress and egress points, and proximity to high-volume national retailers including Walmart Neighborhood Market, Target, and Home Depot.
The surrounding trade area supports over 151,000 residents within a five-mile radius, with population growth projected at 5.2% over the next five years. An average household income of $115,352 fuels robust retail spending, while ongoing residential development—including the 5150 Sonoma Blvd. project, adding 400 new homes—continues to expand the customer base. Vallejo’s economy is further strengthened by a diversified employment base including Amazon (American Canyon and Vacaville), Kaiser Permanente, Union Pacific, Touro University, and a range of new industrial, residential, and life sciences employers at the Mare Island redevelopment. The city also serves as a retail and commuter hub for Solano, Napa, and Contra Costa counties, with ferry service providing direct access to San Francisco, increasing both daytime and visitor traffic.
Fully leased, the center produces a 10.21% in-place CAP rate. Its diverse tenant mix—including QSR/dining (29%), professional services (34%), and medical (6%)—ensures income stability, while in-place rents at $2.39 PSF/month remain approximately 20% below market, offering immediate rent growth potential. The property also provides 60 dedicated parking stalls, with access to an additional 333 stalls within the broader shopping center, accommodating high customer volume. 3612–3672 Sonoma Blvd. presents investors with a rare opportunity to acquire stable income, capitalize on future rent growth, and benefit from long-term appreciation potential in a high-traffic, supply-constrained market at the gateway to the Bay Area’s most dynamic employment and housing corridors.
Shopping Center Details
14,240 Sq. Ft. on 1.65 Acres | 100% Occupied | 10.21% In-Place CAP Rate
• Diverse Tenant Mix – QSR/Dining (29%), Professional Services (34%), Medical (6).
• Stable Occupancy – 7 tenants with an average unit size of 2,383 sq. ft., minimizing vacancy risk.
• Rent Growth Potential – In-place rent at $2.39 PSF/mo., ~20% below market; area vacancy at 3.00%, market rents trending at $2.50–$2.85 PSF/mo.
• Ample Parking – 60 dedicated stalls with access to a total of 333 stalls in the broader property.
• Visibility & Consumer Traffic – Excellent frontage along Sonoma Blvd./Highway 29, the city’s main retail and commuter corridor, ensuring long-term demand and tenant stability.
This investment offers stable cash flow, immediate upside, and future development potential in a high-growth market.
Investment highlights
Prime Vallejo Shopping Center Opportunity – 3612–3672 Sonoma Blvd.
14,240 Sq. Ft. Daily Needs Shopping Center
• Prime Visibility & Frontage – 234 Feet Along Sonoma Blvd., Benefiting from ±25,000 VPD.
• High-Traffic Area – Strong Exposure With ±40,000 VPD on Sonoma Blvd. and Redwood St.
• Retail Anchors Nearby – Next Door to Walmart Neighborhood Market and Near National Retailers Including Target, Home Depot, and Grocery Outlet, Driving Cross-Shopping Traffic.
• Expanding Residential Growth – Nearby to Vallejo Waterfront Master Plan, a Pedestrian-Friendly Mixed-Use Redevelopment, and 5150 Sonoma Blvd., a 12.6-Acre, 400-Home Development.
• Strong Demographics & Spending Power – Over 151,000 Residents Within a 5-Mile Radius. A $115,352 Average Household Income Within 5 Miles Supports Strong Retail Demand, Making Vallejo a Prime Market for Investment and Expansion.
• Excellent Accessibility – Positioned on a Signalized Intersection With Multiple Ingress and Egress Points. Close to the Vallejo Ferry Terminal Offering Direct Service to San Francisco, Increasing Daytime Population and Visitor Traffic.
• Strategic Employment & Economic Hub – Vallejo Benefits from Major Employers Like Amazon (American Canyon & Vacaville), Union Pacific, Kaiser Permanente, Touro University, Mare Island Employers, and Six Flags Discovery Kingdom, Driving a Strong and Diversified Workforce. Its Economy Thrives in Logistics, Healthcare, Education, Biotech, and Retail.
• Prime Transportation & Retail Growth – Easy Access to Interstate 80 and I-780, Connecting to the Broader Bay Area. Vallejo Serves as a Retail Trade Hub for Solano County and a Gateway for Napa and Contra Costa County Commuters.
• Growing Population – Vallejo Boasts a Population of Over 122,000, With Significant Commuting to the Greater Bay Area, Indicating a Strong Local Workforce and Growing Consumer Base.
• Economic Development – City Initiatives, Such as the Waterfront Project and the Major Mare Island Redevelopment by Southern Land Company (Targeting Mixed-Use, Residential, and Tech-Focused Commercial), Signal Continued Growth and Long-Term Real Estate Demand.
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