Vista Crossings
15,757 SF | 80% Leased | Retail Building | Vacaville, CA 95688 | $3,500,000 ($222/SF) | 6.43% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,500,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 15,757 SF
- Price / Square Foot
- $222
Listing Contacts
Christopher Hurd
Verified Profile
Michael Grandstaff
Verified Profile
- Property Info
Property Overview
Marcus & Millichap proudly presents this value-add multi-tenant investment opportunity in Vacaville, California. This 15,757 square-foot retail property is situated within the bustling Vista Crossing Shopping Mall, boasting 11 suites and constructed in 1989. Currently 80% leased with a well-diversified tenant mix, all on NNN leases, the property ensures a stable income stream with future upside from additional tenants.
Strategically positioned on East Monte Vista Ave (20,000+ VPD) and Depot Street (15,770+ VPD), the property benefits from high traffic and visibility along one of Vacaville's busiest thoroughfares. Interstate I-80, located less than a half-mile away, facilitates convenient access for over 190,000 vehicles per day heading towards major markets like Sacramento and San Francisco.
The subject property presents a fantastic upside opportunity, with potential for a buyer to achieve above a 10% return through lease-ups and adjustments in rents. Currently, 80% occupied, the property offers the ability to increase income by filling vacant spaces. Additionally, four tenants are under the surrounding rental market rate on month-to-month leases, providing an opportunity to adjust rents to fair market value shortly after acquisition.
Vacaville, CA, boasts a thriving commercial market thanks to its prime location, modern infrastructure, and supportive business environment. Positioned between San Francisco and Sacramento, Vacaville offers easy access to major transportation routes and regional markets. With streamlined permitting processes and a skilled workforce, the city welcomes businesses across various sectors, from retail to technology.
Strategically positioned on East Monte Vista Ave (20,000+ VPD) and Depot Street (15,770+ VPD), the property benefits from high traffic and visibility along one of Vacaville's busiest thoroughfares. Interstate I-80, located less than a half-mile away, facilitates convenient access for over 190,000 vehicles per day heading towards major markets like Sacramento and San Francisco.
The subject property presents a fantastic upside opportunity, with potential for a buyer to achieve above a 10% return through lease-ups and adjustments in rents. Currently, 80% occupied, the property offers the ability to increase income by filling vacant spaces. Additionally, four tenants are under the surrounding rental market rate on month-to-month leases, providing an opportunity to adjust rents to fair market value shortly after acquisition.
Vacaville, CA, boasts a thriving commercial market thanks to its prime location, modern infrastructure, and supportive business environment. Positioned between San Francisco and Sacramento, Vacaville offers easy access to major transportation routes and regional markets. With streamlined permitting processes and a skilled workforce, the city welcomes businesses across various sectors, from retail to technology.
Property Details
- Class
- B
- Year Built
- 1989
- Stories
- 1
- Property Subtype
- Storefront
- Lot Size (sq. ft)
- 84,942 SF
Highlights
- Rare Value Add opportunity in Vacaville Pro-Forma Cap Rate Above 10%
- Recent Capital Improvements, the roof and HVAC systems have both been replaced in the past 5 years
- Anchored by a full-service grocery store since 1989, Vista Crossings attracts over 480,000 visitors each year
- Offering excellent accessibility, the property features four ingress/egress points, including dedicated left-turn access off of East Monte Vista Ave
- Strategically positioned just off I-80 at the intersection of E Monte Vista Ave and Depot St, Vista Crossing boasts excellent retail visibility
- All tenants are on NNN leases tenants pay for property tax, insurance, and common area maintenance
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