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2147 San Pablo Avenue
Berkeley, CA 94702

Price: $3,500,000 Zoning: C-W
Bldg SF: 4,928 SF Price/SF: $710
Land SF: 14,563 SF Occupancy: 100%
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


Steven Schechter
(818) 212-2793
Steven.schechter@marcusmillichap.com
License # 01089464

Price: $3,500,000
Bldg SF: 4,928 SF
Land SF: 14,563 SF
Year Built: 1982
Price/SF: $710
Occupancy: 100%
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233


Steven Schechter
(818) 212-2793
Steven.schechter@marcusmillichap.com
License # 01089464

Investment Highlights

FAVORABLE BERKELEY, CA LOCATION

 

  • Ideally located less than two miles from the University of California Berkeley, the #1 rated public university worldwide
  • 11 miles from densely populated San Francisco
  • Surrounded by substantial development. The property is located across the street from a 96-unit elder residential memory care and assisted living facility development project, is less than two miles from a 137-unit development project on Shattuck Avenue, and is located less than one- and one-half miles from a newly completed 107-unit project on Addison Street

 

EXCELLENT DEVELOPMENT OPPORTUNITY

 

  • 14,563 square foot development site located on the northeast corner of San Pablo Avenue and Cowper Street
  • Current ownership has created design concepts for the property which would call for a 52,700 square foot building comprised of 44 residential units and 3,800 square feet of retail storefront.
  • Terminatable lease would potentially allow a buyer to collect income throughout the entitlement process

 

SUBMARKET INUNDATED WITH AMENITIES

 

  • The subject property is located two blocks from University Avenue, a street which spans from The Bay to the entrance of the University of California Berkeley, which is consistently lined with over 200 merchants
  • Walking distance from Jack in the Box, Wells Fargo, 7-Eleven, Subway, 99 Cents Only, and Little Caesars

 

DENSE & AFFLUENT DEMOGRAPHICS

 

  • Over 31,000 people are located within one mile of the property, 206,700 within three miles, and 366,100 within 5 miles
  • There are over 13,785 households located within one mile of the property, 86,900 within three miles of the property, and 160,000 within five miles of the property
  • Average household income within one mile of the property exceeds $122,200, $132,200 within three miles, and $128,700 within five miles