5809 Foothill Blvd
Oakland, CA 94605
Foothill Shopping Center · Commerce de détail Propriété À vendre

27,126 SF Neighborhood Shopping Center — Leasehold Interest Value-Add Opportunity with Significant Lease-Up Upside and the Option to Purchase the Underlying Land from the City of Oakland
Significant Value-Add Opportunity — 61% of the Center is Vacant (16,654 SF), Offering Immediate Lease-Up Upside and Potential Stabilized Yield of 12.5+%
Irreplaceable Basis — Priced at $203 SF, Well Below Replacement Cost for a Newly Constructed 27,126 SF Neighborhood Retail Center in the Oakland Market
Option to Purchase the Land — Buyer Inherits Two Options to Acquire the Fee Interest from the City of Oakland Starting at $2,400,000, with the Ability to Convert to Fee Simple Ownership and Dramatically Increase Asset Value
Minimal Ground Rent — Currently Only $1,000/Month ($12,000/Year) Through 2036, Providing a Long Runway of Low Land Cost While the Investor Executes the Lease-Up Business Plan
Long-Term Ground Lease Security — 66-Year Lease with the City of Oakland (Expires ~2082), Providing Over 56 Years of Remaining Term
Diverse Tenant Mix with Staggered Expirations — Six Occupied Suites with Lease Expirations Ranging from 2027–2031, Providing Stability and Reducing Rollover Risk During the Lease-Up Period
City of Oakland Partnership — Ground Lessor is a Municipality with a Vested Interest in the Center’s Success, Including Covenants Requiring Commercially Reasonable Lease-Up Efforts and Protections for Leasehold Mortgage