198 diablo road, danville - peernova video - 198_diablo...2 zachar 925.97.0128...

ZACHARY LEBEOUF925.974.0128zlebeouf@newmarkccarey.comCA RE License #01954043

FORREST GHERLONE925.974.0237fgherlone@newmarkccarey.com CA RE License #01376723

RICK STEFFENS925.974.0110rsteffens@newmarkccarey.com CA RE License #00466002

16-0984 • 8/16

HARTZ AVE

SITESITE

To Walnut C

reek →

To Walnut C

reek →

SAN RAMON VALLEY HIGH SCHOOL

RAILROAD A

MIKE ZYLSTRA925.974.0106mzystra@newmarkccarey.comCA RE License #01310041

CONTACT EXCLUSIVE AGENTS:

COMMERCIAL REDEVELOPMENT OPPORTUNITYDOWNTOWN DANVILLE

Investment Property

198 Diablo Road, Danville

$2,500,000 ($153/per land foot)

BLO RD

FRONT ST.FRONT ST.

HARTZ AVE

SITESITE

CITYPARKING

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EXCLUSIVEAGENTS:

MIKE ZYLSTRA925.974.0106mzystra@newmarkccarey.com CA RE License #01310041

EXECUTIVE SUMMARYNewmark Cornish & Carey is pleased to offer the opportunity to acquire 198 Diablo Road (the “Property) in Danville, California. The Property consists of an approximately 0.38 acre corner parcel of land at the high profile signalized intersection of Diablo Road and Front Street with traffic counts exceeding 25,000 vehicles per day.

Currently improved with a Valero service station, the Seller has created a conceptual design for a two-story mixed-use office/retail development totaling approximately 11,500 square feet erected above subterranean parking. With the current lease expiring in 2025, a buyer could continue to collect rent while obtaining entitlements for the project and exercise the lessor’s right to terminate the lease (termination right on-going from September 1, 2017 with a modest payment detailed on page 4) when ready to begin construction.

While the Property is zoned Downtown Area 2 with a priority on retail or office uses, recent discussions with the Town of Danville Planning department have suggested that alternative uses including for-rent or for-sale residential could be considered.

198 Diablo Road is situated at the gateway to Downtown Danville, one of the San Francisco Bay Area’s most unique and coveted boutique shopping and entertainment districts. The area benefits from outstanding demographics with over 106,000 residents within a three mile radius averaging household incomes approaching $191,000. With unparalleled access to amenities and easy access to Interstate 680, the Property is ideal for a user or investor seeking to enter this unique community.

COMMERCIAL REDEVELOPMENT OPPORTUNITY198 Diablo Road • Danville, CA

DEMOGRAPHICS (2015 Est.) 1 mile 3 mile 5 mile

Population 26,458 106,563 132,734

Daytime Population 6,950 31,803 40,725

Average HH Income $167,064 $190,961 $166,025

DIABLO RD

HARTZ AVE

OFFERING SUMMARY

Price: $2,500,000

Per Land SF: $153/per land foot

Zoning: Area 2 - OldTown Retail Transition

Size: 0.38 acres (±16,380 SF)

SITESITE

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EXCLUSIVEAGENTS:

PARCEL

ADDRESS PARCEL # GROSS LAND SF GROSS ACRES NET LAND SF NET ACRES

Parcel 1 198 Diablo Road 200-211-020 ±19,290 ±0.443 ±16,380 ±0.38

ZONING

Designation: Downtown Area 2: Old Town Retail Transition

Permitted Uses: Retail, Restaurants, Cocktail Lounges

Conditional Uses: Service Commercial, Service Office

F.A.R.: 80%

Height Limit: 35 Feet or 2 Stories

Setbacks: Average of ten (10) feet minimum from public right of way

Zoning Information Website

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EXCLUSIVEAGENTS:

NOTE:Landlord may terminate the lease any time effective after September 1, 2017. With 180 days notice the termination fee is $200,000 less ±$2,273 for every month thereafter. For example, if Landlord were to terminate the lease September 1, 2018 the termination fee would be ±$172,727 (i.e., $200,000 – (±$2,273 x 12)). Landlord termination fee expires 12/31/2024.

LEASE SUMMARY

Tenant Square FeetLease

$/Month Increase OptionsStart Expiration

Valero Ground Lease 5/1/2016 12/31/2025 $6,000 $200/yr None

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EXCLUSIVEAGENTS:

SITESITE

DANVILLE HOTEL

SAN RAMON VALLEY HIGH SCHOOL

DIABLO RD

RAILROAD AVE

HARTZ AVE

FRONT ST

±19,141 ADT±19,141 ADT

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EXCLUSIVEAGENTS:

Ground Floor

Basement Parking

Second Floor

Elevations

Conceptual Plans

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EXCLUSIVEAGENTS:

TOWN OF DANVILLELocated in the heart of Contra Costa County the Town of Danville is one of the most affluent and safest cities in the United States. Danville’s boutique downtown is a pedestrian-friendly combination of charming historic buildings and recent infill developments adding modernity and greater density.

With high barriers to entry and few remaining developable sites, property in Danville carries inherent long term value. One example of an extraordinary restoration is the recently completed $25 million redevelopment of the historic Danville Hotel. The mixed use project includes numerous high quality restaurants and retailers as well as 16 luxury second floor residential condominiums.

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EXCLUSIVEAGENTS:

CONTACT EXCLUSIVE AGENTS:

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Disclaimer:This is a confidential memorandum intended solely for your own limited use to determine whether you wish to express interest in the purchase of the subject property. This memorandum contains selected information pertaining to the described property and has been prepared primarily from information supplied by (“Seller”) and Newmark Cornish & Carey, agent for the Seller. This memorandum does not purport to be all-inclu-sive, nor to contain all of the information which a prospective investor may desire. Neither the Seller nor any of its employees,or agents, including Newmark Cornish & Carey, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents, and no legal liability is assumed or to be implied by any of the aforementioned with respect thereto. By your receipt of this memorandum, you agree that the information contained herein is of a confidential nature, that you will not, directly or indirectly, disclose or permit any-one else to disclose this memorandum or any part of the contents to any other person, firm or entity without prior written authorization of Seller or Newmark Cornish & Carey, nor will you use or permit to be used this memorandum or any part of the contents in any fashion or manner detrimental to the interests of the Seller. The Seller expressly reserves the right, at its sole discretion, to reject any or all proposals or expressions of interest in the subject property and to terminate discussions with any party at any time with or without notice.

COMMERCIAL REDEVELOPMENT OPPORTUNITYDOWNTOWN DANVILLE

1 3 3 3 N . C A L I F O R N I A B L V D , S U I T E 3 4 3 , W A L N U T C R E E K , C A 9 4 5 9 6 | 9 2 5 . 9 7 4 . 0 1 0 0

198 diablo road, danville - peernova video - 198_diablo...2 zachar 925.97.0128...

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