3420 Fostoria Way, Danville, CA 94526
Marcus & Millichap has been selected to exclusively market for sale 3420 Fostoria Way, located in Danville, CA. 3420 Fostoria Way is an excellent office/ light manufacturing building very well located on the Danville/San Ramon border. Built in 1985, the property is 31,440 rentable square feet, sits on approximately 1.75 acres and is very well-parked. The property offers two very unique investment opportunities. At 74.3% leased, an investor potentially can achieve a stabilized cap rate of 6.77% in the 2nd or 3rd year of holding the asset by leasing the vacant office space. A second option for an investor is to convert the office portion of the building to additional flex/manufacturing space, which is currently desired in coastal markets across the country. Vacancy rates for this product in San Ramon are historically low. The Tri-Valley market, which competes with this asset, also has a limited supply of industrial and flex space and this trend is matched in other parts of the Bay Area.
Transitioning to a user discussion, a user has the ability to own and operate their business out of the second floor space.
Marcus & Millichap has been selected to exclusively market for sale 3420 Fostoria Way, located in Danville, CA. 3420 Fostoria Way is an excellent office/ light manufacturing building very well located on the Danville/San Ramon border. Built in 1985, the property is 31,440 rentable square feet, sits on approximately 1.75 acres and is very well-parked. The property offers two very unique investment opportunities. At 74.3% leased, an investor potentially can achieve a stabilized cap rate of 6.77% in the 2nd or 3rd year of holding the asset by leasing the vacant office space. A second option for an investor is to convert the office portion of the building to additional flex/manufacturing space, which is currently desired in coastal markets across the country. Vacancy rates for this product in San Ramon are historically low. The Tri-Valley market, which competes with this asset, also has a limited supply of industrial and flex space and this trend is matched in other parts of the Bay Area.
Transitioning to a user discussion, a user has the ability to own and operate their business out of the second floor space.
