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Shopping Neighborhood

Walgreens

2310 Telegraph Ave, Berkeley, CA 94704

Listing Price: $12,900,000

Cap Rate
4.87%
Gross SF
12,419
Rentable SF
12,419
Price/Gross SF
$1,038.73
Lot Size
0.23 acres
Year Built
1950

Investment Overview

2310 Telegraph Ave is a stunning Walgreens anchored retail asset located in the thriving city of Berkeley, CA. The subject property also offers investors the opportunity to redevelop within Berkeley's C-T Telegraph Avenue Commercial District.

Situated on a 10,000 square foot parcel of land, the subject property was originally constructed in 1950, and has a gross building area of approximately 12,419 square feet, offering three retail suites adjacent to a major entrance to the UC Berkeley campus.

Located within Berkeley's C-T Zoning District, the subject property can potentially be redeveloped into residential, retail, office, mixed-use or many other types of commercial buildings. The subject property is located on the corner of Telegraph Ave and Bancroft Way, giving tenants access to the densest foot traffic Berkeley has to offer coming from Telegraph Ave, Shattuck Ave, and the UC Berkeley campus. UC Berkeley is an internationally recognized university that prides itself on being the number one public university in the nation as well as the fourth best globally.

Berkeley is also a major transportation hub with several Bay Area rapid transit system (BART) stops and is intersected by several interstate freeways. Residents in Berkeley have convenient commuting options to San Francisco and the greater Bay Area providing close proximity to many of the nation's top tech employers including Google, Apple, Facebook, IBM, LinkedIn, Microsoft, Intel, Adobe Systems, Cisco Systems, Yahoo, as well as many others.

The investment appeal of this asset is driven by Berkeley’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of East Bay, 2310 Telegraph Ave presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining and entertainment options.

Investment Highlights

  • Prime Opportunity in a World-Class Location - Offers qualified investors the potential to acquire a property in a world-class location adjacent to a major entrance to the UC Berkeley campus.
  • Attractive Seller Financing - The seller is offering to carry financing at an attractive interest rate of 5%.
  • C-T Telegraph Avenue Commercial District - Potential to be redeveloped into residential, retail, office, mixed-use or many other types of commercial buildings.
  • Anchored through 2036 by Walgreens Drugstore - 2310 Telegraph Ave is anchored by Walgreens Drugstore with a lease in place through 2036. Walgreens has the option to terminate the lease in both 2026 or 2031.
  • Ideal for Pedestrian Access - The subject property offers tenants access to dense foot traffic coming from Shattuck Ave, Telegraph Ave, and the UC Berkeley Campus.
  • Strong Transportation Corridors - 2310 Telegraph Ave is within close proximity to I-580, I-880, the San Francisco-Oakland Bay Bridge as well as numerous public transit options.

Exclusively Listed By

Shopping Neighborhood

Walgreens

Listing Price: $12,900,000

Cap Rate
4.87%
Gross SF
12,419
Rentable SF
12,419
Price/Gross SF
$1,038.73
Lot Size
0.23 acres
Year Built
1950

Investment Highlights

  • Prime Opportunity in a World-Class Location - Offers qualified investors the potential to acquire a property in a world-class location adjacent to a major entrance to the UC Berkeley campus.
  • Attractive Seller Financing - The seller is offering to carry financing at an attractive interest rate of 5%.
  • C-T Telegraph Avenue Commercial District - Potential to be redeveloped into residential, retail, office, mixed-use or many other types of commercial buildings.
  • Anchored through 2036 by Walgreens Drugstore - 2310 Telegraph Ave is anchored by Walgreens Drugstore with a lease in place through 2036. Walgreens has the option to terminate the lease in both 2026 or 2031.
  • Ideal for Pedestrian Access - The subject property offers tenants access to dense foot traffic coming from Shattuck Ave, Telegraph Ave, and the UC Berkeley Campus.
  • Strong Transportation Corridors - 2310 Telegraph Ave is within close proximity to I-580, I-880, the San Francisco-Oakland Bay Bridge as well as numerous public transit options.

Investment Overview

2310 Telegraph Ave is a stunning Walgreens anchored retail asset located in the thriving city of Berkeley, CA. The subject property also offers investors the opportunity to redevelop within Berkeley's C-T Telegraph Avenue Commercial District. Situated on a 10,000 square foot parcel of land, the subject property was originally constructed in 1950, and has a gross building area of approximately 12,419 square feet, offering three retail suites adjacent to a major entrance to the UC Berkeley campus. Located within Berkeley's C-T Zoning District, the subject property can potentially be redeveloped into residential, retail, office, mixed-use or many other types of commercial buildings. The subject property is located on the corner of Telegraph Ave and Bancroft Way, giving tenants access to the densest foot traffic Berkeley has to offer coming from Telegraph Ave, Shattuck Ave, and the UC Berkeley campus. UC Berkeley is an internationally recognized university that prides itself on being the number one public university in the nation as well as the fourth best globally. Berkeley is also a major transportation hub with several Bay Area rapid transit system (BART) stops and is intersected by several interstate freeways. Residents in Berkeley have convenient commuting options to San Francisco and the greater Bay Area providing close proximity to many of the nation's top tech employers including Google, Apple, Facebook, IBM, LinkedIn, Microsoft, Intel, Adobe Systems, Cisco Systems, Yahoo, as well as many others. The investment appeal of this asset is driven by Berkeley’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of East Bay, 2310 Telegraph Ave presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining and entertainment options.

Exclusively Listed By

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