Property Listing No Longer Available for Sale

630 Tennessee St, Vallejo, CA

Retail for Sale - $795,000 - 7,012 Sq. Ft. on 0.24 acres


Property Info

CIMLS#895306
Location
  630 Tennessee St
  Vallejo CA 94590
UpdatedMay 10th, 2016
TypeRetail
Price$795,000
Building7,012 Sq. Ft.
Land0.24 acres

Property Description

NAI is pleased to present the Victorian Center, a multi-tenant retail center located on 630 Tennessee Street in the city of Vallejo. The 7,012 SF property with a 10,531 SF lot is currently occupied by 7 tenants with only 1 vacancy. This well-maintained property shows pride of ownership and benefits from two ADA bathrooms, new wood trim around the windows, a new metal facade, updated roof and many more improvements. The property has a 12 car parking lot plus ample street parking.

Location Description:

It is located on Tennessee Street, the main artery off I-80 into downtown Vallejo and to Mare Island. Traffic count is approx. 18,500 cars per day in the immediate area.

Property is also located near the intersection of Tennessee and Sonoma Boulevard/Highway 29 which connects I-80 with the world famous Napa Valley.

Vallejo recently emerged from bankruptcy and has begun numerous public works renovation projects throughout the city. Projects include removal and replacement of asphalt concrete pavement, new ADA improvements with sidewalks and parks, and new and improved street lights.

Analysts predict 94590 values will increase 23.6% next year, compared to a 23% rise for Vallejo as a whole. Among 94590 properties, this property is valued 314.4% more than the midpoint (median) property, but is valued 22.1% less per square foot. Foreclosures will be a factor impacting home values in the next several years. In the 94590 market, the number of foreclosures waiting to be sold fell 88.9% in the last year.

Highlights:

>> Great Visibility and a Wonderful Vallejo Location!

>> Stable and Reliable Tenants and Significant Upside in Rent!

>> Updates Throughout Including ADA Bathrooms! Separate For PG&E!

>> Excellent Opportunity for Retail or an Owner User!

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Financials


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