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Kaia's and Bridges - Net Leased 480 Hartz Ave 5,022 SF 100% Leased Retail Building Danville, CA 94526 $7,607,764 CAD ($1,514.89 CAD/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Rare opportunity to acquire two trophy restaurant assets in downtown Danville, CA
- Under market rents with ability to “mark to market” upon initial term expiration
- Danville is prestigious and affluent community with average household incomes exceeding $200,000 with a 3-mile radius
- Great location adjacent to 200 stall Town of Danville parking lot (free)
- Scheduled rent increases
- 70 yards from the new “600 Hartz” mixed use project with ground floor retail and 37 luxury residential units
EXECUTIVE SUMMARY
Rare opportunity to acquire 44 Church Street (“Bridges”)and 480 Hartz Avenue (“Kaia’s”) in downtown Danville, California. The iconic restaurant buildings are 100% leased on a net basis with the Bridges expiring November 30, 2030 and Kaia’s expiring June 30, 2030.
Located in the very heart of affluent downtown Danville, the properties are immediately adjacent to the Village Theatre and the 200-stall Village Theatre municipal parking lot which provides ample parking for restaurant patrons.
The existing rent for both Bridges and Kaia’s is currently well below-market giving an investor the ability to increase income significantly if the tenants vacate or exercise their “Fair Market Value” options to extend. With rustic appeal and A+ locations, these buildings represent a unique occasion to invest in generational assets.
Located in the very heart of affluent downtown Danville, the properties are immediately adjacent to the Village Theatre and the 200-stall Village Theatre municipal parking lot which provides ample parking for restaurant patrons.
The existing rent for both Bridges and Kaia’s is currently well below-market giving an investor the ability to increase income significantly if the tenants vacate or exercise their “Fair Market Value” options to extend. With rustic appeal and A+ locations, these buildings represent a unique occasion to invest in generational assets.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,022 SF
Building Class
B
Year Built
2008
Price
$7,607,764 CAD
Price Per SF
$1,514.89 CAD
Cap Rate
4.75%
NOI
$361,369 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.43
Lot Size
0.27 AC
Zoning
R-B/S-2
Parking
20 Spaces (3.98 Spaces per 1,000 SF Leased)
Frontage
55’ on Church St
Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 208-022-047-4 | Improvements Assessment | $1,278,418 CAD |
| Land Assessment | $1,124,280 CAD | Total Assessment | $2,402,698 CAD |
PROPERTY TAXES
Parcel Number
208-022-047-4
Land Assessment
$1,124,280 CAD
Improvements Assessment
$1,278,418 CAD
Total Assessment
$2,402,698 CAD
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Kaia's and Bridges - Net Leased | 480 Hartz Ave
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