Investment Overview

Marcus & Millichap is pleased to present the offer to purchase the Cherry Valley Shopping Center, located at 840-860 Petaluma Boulevard North in Petaluma, California. Comprised of two buildings totaling approximately 14,476 square feet on a roughly 1.14 acre lot, the subject property offers a well-seasoned mix of service and convenience oriented tenants. Cherry Valley is anchored by Fast & Easy Mart to the north, fronting W. Payran St, and Ambrosia restaurant to the east , fronting Petaluma Blvd-- one of Petaluma's primary retail corridors. The structure is of wood frame with stucco exterior wall built on concrete slab foundation and has been well maintained over the course of its current ownership. There is ample on site parking with 62 parking stalls (4.28 spaces per 1,000 sq. ft.) The subject property is within three miles of several major development projects, including Brooks Note Winery at 426 Petaluma Blvd (production and tasting room -- under construction), a 184-unit apartment complex at the corner of Petaluma Blvd N. and Oak St (under construction), and another 278-unit apartment complex just off of Payran St. (in planning process), all of which will provide further economic growth to an already affluent area. Cherry Valley Shopping Center presents an opportunity to acquire a stable cash flowing retail asset with upside through rent growth and filling the vacancy, as well as the potential for converting the few gross leases to triple net.