Description

The subject property is a 100% occupied 18,963-square foot multi-tenant neighborhood strip center in San Leandro, California. The property was constructed in 1989, and is separated into two buildings. Beijing Bowl occupying the smaller 2,556-square foot freestanding corner building and eight other regional local tenants occupy the other 16,407-square foot building. The property is well located across the street is the Kraft Foods Plant, which has approximately 1,500 employees as well as a Kmart, Orchard Supply Hardware, anchored shopping center, and a dd’s DISCOUNTS, Pak n Save (Safeway), Bally’s Total Fitness anchored center catty corner to the subject. All of the adjacent shopping center are 100% occupied and employees and customers help support the tenants in the subject property. The property has been well maintained by the existing ownership, and shows well.

There is a long-term ground lease, which is included for the majority of the parking lot. The property is financeable due to the ground lease going well beyond the life of a new loan.

Washington Ave and Floresta Blvd. Located Directly across the street from the Kmart & Orchards Hardware anchored shopping center.

Financial Summary

• Actual
• Net Operating Income
  $143,519