Cap Rate - 4.29% (Current) GRM - 13.66 (Current) vs Cap Rate - 6.65% (Proforma) GRM - 9.96 (Proforma). 1600 Kearney in El Cerrito was home to Cerrito Printing and had the power to support the workload. An additional suite was added, and currently, the building is divided into four (4) separate suites of varying sizes with long-term tenants. The property is a perfect fit for a variety of buyers. An owner-user could occupy all or some of the space while retaining some rental income, or an investor could acquire the building and bring rents to market rates. Additionally, TOHIMU zoning allows 45+ units/acre. Being in the heart of the East Bay, the building is within a two (2) mile distance to both El Cerrito Del Norte and El Cerrito Plaza Bart stations, and Highway 80. Oakland and San Francisco including their respective airports are all within a 10-to-25 mile distance.
This 7500 sq ft vacant lot for sale is in a prime location on the corner of San Pablo Ave and Waldo in El Cerrito, CA. Located just 5 blocks north of El Cerrito Plaza, the lot offers easy access to shopping, dining, and transportation options. The Transit Oriented Higher Intensity Mixed Use (TOHIMU) zoning provides numerous development opportunities, with the potential for up to 35 units (buyer to verify with City regarding zoning and use). This is an ideal opportunity for investors and developers to create their next project in a sought-after area. Don't miss out on this rare chance to own a corner lot with excellent potential in a prime location.
El Cerrito is located in California. El Cerrito, California has a population of 25,898. El Cerrito is less family-centric than the surrounding county with 33.86% of the households containing married families with children. The county average for households married with children is 35.9%.
The median household income in El Cerrito, California is $116,875. The median household income for the surrounding county is $110,455 compared to the national median of $69,021. The median age of people living in El Cerrito is 42 years.
The average high temperature in July is 70.5 degrees, with an average low temperature in January of 43.5 degrees. The average rainfall is approximately 25.2 inches per year, with 0 inches of snow per year.
