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Shopping Strip

Piner Plaza

1760 Piner Rd, Santa Rosa, CA 95403

Listing Price: $5,300,000

Cap Rate
6.00%
Gross SF
13,016
Rentable SF
13,016
Price/Gross SF
$407.19
Lot Size
1.05 acres
Year Built
1978

Investment Overview

Piner Plaza shopping center represents an outstanding opportunity to acquire a seasoned, convenience-oriented retail center, anchored by 7-Eleven occupying its own pad building, and having exercised one of its 5-year options to extend its lease in 2020. The retail tenants of Piner Plaza are internet-resistant and cater well to customers residing in the subject property trade area. In addition to the Nation’s most dominant convenience market, 7-Eleven, the remaining tenant mix includes franchisee retailers Liberty Tax Services, as well as multi-location local/regional retailers Phyllis’ Giant Burgers, and Pizza Guys. The average lease rates, common area maintenance, and other industry-standard tenant expenses at Piner Plaza are at sustainable levels, including post-sale property taxes. Located in Santa Rosa, California, Piner Plaza shopping center is situated on the signalized, hard corner of Piner Road and Coffey Lane. Ingress/egress are via two double-wide curb cuts, one each on Piner Road, and Coffee Lane. Tenant signage is provided by channel-cut, backlit on-building tenant signage, with additional exposure to foot and vehicular traffic on Piner Road from the illuminated monument sign which includes tenant display signage. There is ample on-site parking with 57 parking stalls equating to over five parking spaces per one thousand square feet of gross building area. The subject property is comprised of two buildings totaling 10,464 square feet. The flat, built-up roof includes an attractive mansard-like detail creating a covered walkway to shelter shoppers from sun, wind, and rain. The roof-mounted HVAC units are gas-fired heat pump type, providing both heat and air conditioning to each retail suite. The entire center is served by a single water/sewer meter, with separate meters for gas & electricity to each suite. The site is level with attractive, mature landscaping that is irrigated. The structure is of wood frame with stucco exterior wall built on a concrete slab foundation. The parking surface is of asphalt and in sound condition. Piner Plaza shopping center has been well maintained during the seller’s ownership. At just over four hundred dollars per square foot and a six-percent capitalization rate, Piner Plaza shopping center is arguably the most attractive multi-tenant shopping center offering in the greater Bay Area when compared to similar recently closed, and currently available properties.

Investment Highlights

  • 7-Eleven provides credit, internet resilience, and strong foot traffic as the anchor tenant and the Nation's most dominant convenience market.
  • All triple net (NNN) leases make for minimal management responsibilities.
  • Attractive return and price per square foot compared to similar recently closed, and currently available offerings.
  • Located in the heart of Sonoma County, subject property is easily accessible from the San Francisco Bay Area and Napa Valley.

Exclusively Listed By

Listing Price: $5,300,000

Cap Rate
6.00%
Gross SF
13,016
Rentable SF
13,016
Price/Gross SF
$407.19
Lot Size
1.05 acres
Year Built
1978

Investment Highlights

  • 7-Eleven provides credit, internet resilience, and strong foot traffic as the anchor tenant and the Nation's most dominant convenience market.
  • All triple net (NNN) leases make for minimal management responsibilities.
  • Attractive return and price per square foot compared to similar recently closed, and currently available offerings.
  • Located in the heart of Sonoma County, subject property is easily accessible from the San Francisco Bay Area and Napa Valley.

Investment Overview

Piner Plaza shopping center represents an outstanding opportunity to acquire a seasoned, convenience-oriented retail center, anchored by 7-Eleven occupying its own pad building, and having exercised one of its 5-year options to extend its lease in 2020. The retail tenants of Piner Plaza are internet-resistant and cater well to customers residing in the subject property trade area. In addition to the Nation’s most dominant convenience market, 7-Eleven, the remaining tenant mix includes franchisee retailers Liberty Tax Services, as well as multi-location local/regional retailers Phyllis’ Giant Burgers, and Pizza Guys. The average lease rates, common area maintenance, and other industry-standard tenant expenses at Piner Plaza are at sustainable levels, including post-sale property taxes. Located in Santa Rosa, California, Piner Plaza shopping center is situated on the signalized, hard corner of Piner Road and Coffey Lane. Ingress/egress are via two double-wide curb cuts, one each on Piner Road, and Coffee Lane. Tenant signage is provided by channel-cut, backlit on-building tenant signage, with additional exposure to foot and vehicular traffic on Piner Road from the illuminated monument sign which includes tenant display signage. There is ample on-site parking with 57 parking stalls equating to over five parking spaces per one thousand square feet of gross building area. The subject property is comprised of two buildings totaling 10,464 square feet. The flat, built-up roof includes an attractive mansard-like detail creating a covered walkway to shelter shoppers from sun, wind, and rain. The roof-mounted HVAC units are gas-fired heat pump type, providing both heat and air conditioning to each retail suite. The entire center is served by a single water/sewer meter, with separate meters for gas & electricity to each suite. The site is level with attractive, mature landscaping that is irrigated. The structure is of wood frame with stucco exterior wall built on a concrete slab foundation. The parking surface is of asphalt and in sound condition. Piner Plaza shopping center has been well maintained during the seller’s ownership. At just over four hundred dollars per square foot and a six-percent capitalization rate, Piner Plaza shopping center is arguably the most attractive multi-tenant shopping center offering in the greater Bay Area when compared to similar recently closed, and currently available properties.

Exclusively Listed By

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