Listed by Essential Capital Advisors
$21,120,000
Hobby Lobby & Guitar Center
Details
APN 127-220-021-1
Property Type Retail
Sub Type Shopping Center, Electronics
Square Footage 73,167
Net Rentable (SqFt) 73,167
Units 2
Cap Rate 7%
NOI $1,478,170
Occupancy 100%
Tenancy Multi
Brand/Tenant Hobby Lobby, Guitar Center
Lease Type NNN
Price per SqFt $289
Year Built 1980
Year Renovated 2014
Buildings 1
Stories 1
Acreage 6.380
Zoning WMX - West Concord Mixed-Use
Parking Spaces 4.32 per 1,000 sq ft
Ground Lease No
Ownership Fee Simple
Trophy Bay Area Two-Tenant NNN Asset
Investment highlights
- 100% occupied by national tenants, Hobby Lobby and Guitar Center on NNN leases
- Strong historical occupancy; Guitar Center has been a tenant for over 27 years and Hobby Lobby has been a tenant for over 12 years
- Both tenants recently exercised their 5-year options demonstrating their long term commitment to this location
- Current WMX (West Concord Mixed-Use) zoning allows for higher density retail, hospitality, and office development
- Lack of developable land, time consumptive entitlement processes, and high construction costs result in significant barriers to entry for any future competitive retail developments to the center
- Strategically positioned at a signalized, hard corner intersection with unobstructed visibility from Willow Pass Road (39,300 VPD) and Diamond Way (16,250 VPD)
- Within immediate proximity to East Bay’s most heavily trafficked freeways, Interstate 680 (224,500 VPD) and Highway 242 (125,500 VPD)
- Willow Pass Road is the entry to the core of Downtown Concord and Diamond Way is the thoroughfare for Concord’s most vibrant retail centers and professional office complexes
- Benefits from close proximity to some of the highest-profile retail and residential developments in the East Bay
- Located near high end lifestyle centers, The Veranda and The Willows as well as and high density residential developments; Renaissance Square Apartments - 281 high end units with club amenities and Park Central - 259 luxury apartments
- Hobby Lobby is the largest privately owned arts and crafts retailer in the world founded in 1972
- Hobby Lobby generated over $8 billion sales in 2025 with over 1,000 locations in 48 states
- Guitar Center is the leader in the music retailer industry with over 320 stores in 45 states and was founded in 1959
- Guitar Center generated over $2.85 billion is sales for 2025, a strong increase over the past 3 years
- #1 Location in the US, 163,500 visitors per year, 33% increase from previous year (Placer AI)
- Both tenants are dominant in their respective categories and have experienced significant growth in recent years
Listing Contacts
Listed by Essential Capital Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,478,170.00
$123,180.83/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
Map
Zoning
WMX MixedMixed UseWest Concord Mixed Use
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View all 150 uses Last updated May 9, 2026 For deeper zoning details, reports are available at Zoneomics
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