Farm & Flour | States Coffee | Absolute NNN Leased Offering

2101 San Pablo Ave, Berkeley, CA

$3,500,000

Price

4.71%

Cap Rate

$164,850

NOI

Overview
Cap Rate
4.71%
NOI
$164,850
Building Size
2,765 sqft
Lot Area
0.06 acres
Lease Type
Absolute Net
Description

The Kase Group is pleased to present the opportunity to purchase a brand new, single tenant essential needs bakery and cafe: Farm & Flour | States Coffee in Berkeley, CA. The tenant has executed a new 15-year absolute NNN lease with 2% annual increases and two, 10-year renewal options.

The subject property is a 2,765 square foot free standing building in the heart of Berkeley with ample street frontage on San Pablo Avenue. The site benefits from daily traffic counts in excess of 21,000 vehicles per day and from its close proximity to University Avenue. The building is scheduled to be renovated in June, 2020 with completion of all required capital and tenant improvements slated for September, 2020.

Farm & Flour and States Coffee are two prominent, up and coming local retailers/wholesalers of gourmet coffee and artisan baked goods that will operate out of this site. Farm & Flour in Benicia, CA and States Coffee in Martinez, CA are very strong performing locations that have become staples in their local communities and very well known in their surrounding trade areas.

Highlights
  • New 15-Year Absolute NNN Leased Essential Needs QSR
  • 2% Annual Rent Increases; Two, 10-year Options
  • Strong Local Retail/Wholesale Operator With Thriving Locations In Benicia And Martinez
  • Soon-to-be Renovated Building With High Grade Capital & Tenant Improvements
  • Excellent Frontage, Visibility And Future Signage Along San Pablo Avenue
  • Heavily Trafficked Corridor, 21,000 VPD And Within Half A Block Of University Avenue
Documents
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Location
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