ZACHARY [email protected] RE License #01954043
FORREST [email protected] CA RE License #01376723
RICK [email protected] CA RE License #00466002
16-0984 • 8/16
DIA
BLO
RD
DIA
BLO
RD
HARTZ AVE
HARTZ AVE
SYC
AM
OR
E V
ALL
EY
RD
SY
CA
MO
RE
VA
LLE
Y R
D
SITESITE
To Walnut C
reek →
To Walnut C
reek →
SAN RAMON VALLEY HIGH SCHOOL
SAN RAMON VALLEY HIGH SCHOOL
RAILROAD A
VE
RAILROAD A
VE
MIKE [email protected] RE License #01310041
CONTACT EXCLUSIVE AGENTS:
COMMERCIAL REDEVELOPMENT OPPORTUNITYDOWNTOWN DANVILLE
Investment Property
198 Diablo Road, Danville
$2,500,000 ($153/per land foot)
DIA
BLO RD
DIA
BLO RD
FRONT ST.FRONT ST.
HARTZ AVE
HARTZ AVE
SITESITE
CITYPARKING
CITYPARKING
16-0984 • 8/16
EXCLUSIVEAGENTS:
2
ZACHARY [email protected] RE License #01954043
FORREST [email protected] CA RE License #01376723
MIKE [email protected] CA RE License #01310041
RICK [email protected] CA RE License #00466002
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
16-0984 • 8/16
EXCLUSIVEAGENTS:
3
ZACHARY [email protected] RE License #01954043
FORREST [email protected] CA RE License #01376723
MIKE [email protected] CA RE License #01310041
RICK [email protected] CA RE License #00466002
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
COMMERCIAL REDEVELOPMENT OPPORTUNITY198 Diablo Road • Danville, CA
16-0984 • 8/16
EXCLUSIVEAGENTS:
4
ZACHARY [email protected] RE License #01954043
FORREST [email protected] CA RE License #01376723
MIKE [email protected] CA RE License #01310041
RICK [email protected] CA RE License #00466002
COMMERCIAL REDEVELOPMENT OPPORTUNITY198 Diablo Road • Danville, CA
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
16-0984 • 8/16
EXCLUSIVEAGENTS:
5
ZACHARY [email protected] RE License #01954043
FORREST [email protected] CA RE License #01376723
MIKE [email protected] CA RE License #01310041
RICK [email protected] CA RE License #00466002
SITESITE
DANVILLE HOTEL
SAN RAMON VALLEY HIGH SCHOOL
SAN RAMON VALLEY HIGH SCHOOL
DIABLO RD
DIABLO RD
RAILROAD AVE
RAILROAD AVE
HARTZ AVE
HARTZ AVE
FRONT ST
FRONT ST
±19,141 ADT±19,141 ADT
COMMERCIAL REDEVELOPMENT OPPORTUNITY198 Diablo Road • Danville, CA
16-0984 • 8/16
EXCLUSIVEAGENTS:
6
ZACHARY [email protected] RE License #01954043
FORREST [email protected] CA RE License #01376723
MIKE [email protected] CA RE License #01310041
RICK [email protected] CA RE License #00466002
COMMERCIAL REDEVELOPMENT OPPORTUNITY198 Diablo Road • Danville, CA
Ground Floor
Basement Parking
Second Floor
Elevations
Conceptual Plans
16-0984 • 8/16
EXCLUSIVEAGENTS:
7
ZACHARY [email protected] RE License #01954043
FORREST [email protected] CA RE License #01376723
MIKE [email protected] CA RE License #01310041
RICK [email protected] CA RE License #00466002
COMMERCIAL REDEVELOPMENT OPPORTUNITY198 Diablo Road • Danville, CA
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.
16-0984 • 8/16
EXCLUSIVEAGENTS:
8
ZACHARY [email protected] RE License #01954043
FORREST [email protected] CA RE License #01376723
MIKE [email protected] CA RE License #01310041
RICK [email protected] CA RE License #00466002
CONTACT EXCLUSIVE AGENTS:
16-0984 • 8/16
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
ZACHARY [email protected] RE License #01954043
FORREST [email protected] CA RE License #01376723
RICK [email protected] CA RE License #00466002
MIKE [email protected] CA RE License #01310041