2701 Middlefield Rd, Palo Alto, CA 94306
12,040 SF | Retail Building | Palo Alto, CA 94306 | For Sale
For Sale
Active
4 pictures
- Property Type
-
Retail
- Square Feet
- 12,040 SF
Listing Contacts
David Cutler
Joshua Johnson
Kirk Trammell
Property Overview
SILICON VALLEY INVESTMENT OPPORTUNITY
Marcus & Millichap is pleased to present 2701 Middlefield Road, a 30,050 SF site currently in use for retail leased by CVS Pharmacy. The site is set in Midtown Palo Alto, near the intersection of Middlefield Road and California Avenue, just three blocks away from Oregon Expressway. The expressway flows directly through Palo Alto from Highway 101 to Interstate 280 making it a main road for both commuters and residents. Last reported, the intersection of Oregon Expressway and Middlefield Road had a traffic count of over 27,000 vehicles per day.
EXCELLENT ACCESS TO AMENITIES
The subject site is centered in the dense retail nook of Midtown Palo Alto. The center contains a Safeway, Walgreen’s, 7-eleven, UPS Store, Round Table Pizza, Baskin Robbins, Wells Fargo, and Chase Bank, among many other local shops, gyms, and eateries. Located near Hoover Park, this site is a perfect community gathering location, as well as a break point for commuters passing through the area.
MAJOR EMPLOYERS
2701 Middlefield Road is a short commute from employment centers in Palo Alto and Mountain View. Major employers in the immediate area include Alphabet (Google), Intuit, Microsoft, Tesla, HP Inc., Varian Medical Systems, LinkedIn, Samsung, Nokia, VMWare, Synopsis, and Stanford University. Silicon Valley continues to be a hub for innovation and captures more than 40% of all venture capital funding for the nation. The region is expected to maintain its dominant position in the formation of new technology companies and creation of tech-related jobs.
EXCEPTIONAL DEMOGRAPHIC PROFILE
The site is located in Palo Alto, one of the most affluent communities in the state of California. Palo Alto had an estimated median household income of $156,739 in 2022, more than double the national median household income of $70,784. The city has a highly-educated workforce, with more than 69% of the population over the age of 25 having a Bachelor’s or graduate degree. Since 2000, the population has grown by 14.5%, and is projected to grow another 3.81% by 2027.
Marcus & Millichap is pleased to present 2701 Middlefield Road, a 30,050 SF site currently in use for retail leased by CVS Pharmacy. The site is set in Midtown Palo Alto, near the intersection of Middlefield Road and California Avenue, just three blocks away from Oregon Expressway. The expressway flows directly through Palo Alto from Highway 101 to Interstate 280 making it a main road for both commuters and residents. Last reported, the intersection of Oregon Expressway and Middlefield Road had a traffic count of over 27,000 vehicles per day.
EXCELLENT ACCESS TO AMENITIES
The subject site is centered in the dense retail nook of Midtown Palo Alto. The center contains a Safeway, Walgreen’s, 7-eleven, UPS Store, Round Table Pizza, Baskin Robbins, Wells Fargo, and Chase Bank, among many other local shops, gyms, and eateries. Located near Hoover Park, this site is a perfect community gathering location, as well as a break point for commuters passing through the area.
MAJOR EMPLOYERS
2701 Middlefield Road is a short commute from employment centers in Palo Alto and Mountain View. Major employers in the immediate area include Alphabet (Google), Intuit, Microsoft, Tesla, HP Inc., Varian Medical Systems, LinkedIn, Samsung, Nokia, VMWare, Synopsis, and Stanford University. Silicon Valley continues to be a hub for innovation and captures more than 40% of all venture capital funding for the nation. The region is expected to maintain its dominant position in the formation of new technology companies and creation of tech-related jobs.
EXCEPTIONAL DEMOGRAPHIC PROFILE
The site is located in Palo Alto, one of the most affluent communities in the state of California. Palo Alto had an estimated median household income of $156,739 in 2022, more than double the national median household income of $70,784. The city has a highly-educated workforce, with more than 69% of the population over the age of 25 having a Bachelor’s or graduate degree. Since 2000, the population has grown by 14.5%, and is projected to grow another 3.81% by 2027.
Property Details
- Class
- B
- Year Built
- 1954
- Stories
- 1
- Property Subtype
- Drug Store
- Lot Size (sq. ft)
- 30,056 SF
Highlights
- Corporate backed NNN lease
- Signalized intersection on Middlefield Road
- Centered in the dense retail nook of Midtown, Palo Alto
- Middlefield Road has a traffic count of 27,000 vehicles per day last reported
- Site is a community gathering point, as well as a break stop for commuters
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