Development or Creative Reuse Opportunity : : 1507-11 SAN ... · GORDON COMMERCIAL REAL ESTATE SERVICES 2091 Rose Street, Berkeley, CA 94709 • • T 510 704-1800 • F 510 704-1830

CONTACT: LORI ROSENTHAL 510 524-2344 • [email protected] • CalBRE# 01946676

Development or Creative Reuse Opportunity: : 1507-11 SAN PABLO AVENUE, BERKELEY, CA : :

GORDON COMMERCIAL REAL ESTATE SERVICES 2091 Rose Street, Berkeley, CA 94709 • www.gordoncommercial.com • T 510 704-1800 • F 510 704-1830 • CalBRE# 00789365

• Parcel Size: ± 7,500 SF

• Building Size: ± 6,372 SF

• Sale Price: $1.5 million

• APN: 60-2395-33-1

1507-11 SAN PABLO AVENUE, BERKELEY, CA

OPPORTUNITYThe Site is a 7,500 SF parcel located within a commercial business district at 1507-1511 San Pablo Avenue. The Site includes three commercial/light industrial buildings constructed between about 1945 and 1955. The buildings appear to be concrete block construction with exterior stucco. The adjacent buildings include: • The main former Pullman Cleaner building at 1507 San Pablo Avenue on the northwest side of the Site; • A smaller rear building (also 1507 San Pablo), on the northeast side of the Site associated with the former dry cleaner; • A former storage building at 1509/1511 San Pablo Avenue on the south side of the Site.The two buildings are connected by a covered driveway with a roll up door and an access door within it. There is one curb cut onto San Pablo Avenue.

The Site is currently vacant except for a second floor art studio within the 1509-1511 building. A residential neighborhood adjoins the Site to the east.

• Zoned: C-W

(West Berkeley Commercial)

PROPERTY OVERVIEW

THIS IS A PROBATE SALE SUBJECT TO PRIOR COURT APPROVAL AT A NOTICED HEARING

The property is an asset of the probate estate of Fred James Walker, subject to the jurisdiction of the Superior Court of Contra Costa County, Case No. P94-00893. Any sale is subject to prior court approval at a noticed public hearing, as further set forth in the California Probate Code. The property shall be sold in its AS IS condition.


RAPIDLY GROWING DENSITY with more than 650 new residential units planned or under construction on San Pablo Avenue within 1.6 miles of subject property

DEMOGRAPHICS 1 MILE 3 MILEPopulation 27,094 186,841Daytime Employees 17,947 140,597Median HH Income: $86,232 $86,396

TRAFFIC COUNTS COLLECTION STREET CROSS STREET TRAFFIC VOLUME DISTANCE

San Pablo Avenue University Ave 21,797 0.15 miSan Pablo Avenue Gilman Street 22,600 0.37 mi

Source: CoStar/Loopnet


BUILDING HIGHLIGHTS• Ideal for owner/user or development opportunity• 1507 San Pablo - Single-story building with high ceilings and wood-truss beams - Inset entry door flanked by glass windows with clerestory windows above - Lofted mezzanine - Concrete floor - Small office on ground floor - Detached structure in the rear• 1509-1511 San Pablo - Two-story building - Entry door flush to building, with glass display windows and clerestory windows above - Separate ground floor and second floor spaces - Ground floor used for storage and/or woodworking - Second floor leased to an art studio

LOCATION HIGHLIGHTS• 75' of street frontage on busy and highly visible San Pablo Avenue• Easy walk to Whole Foods Market, REI Coop, Philz Coffee, Chipotle, North Berkeley BART, Acme Bread, and many other local restaurants and businesses• Currently over 650 new residential units planned or under construction within a 1.6 mile distance from the subject property; mostly 4-5 story mixed-use developments with housing over retail• 1500 San Pablo Avenue, a 5-story building, is under construction directly across the street with 170 units over retail

Bike Score99

Walk Score93

Near PopularEateries


2720 San Pablo Avenue: 5-story, mixed-use development. 40 units over ground floor commercial.Submitted in 2016. Zoning Board preview slated for Fall 2019.

2747 San Pablo Avenue: 5-story, mixed-use building. 39 condo units, 2 live/work, + 1,500 SF commercial space. Under construction.

2435 San Pablo Avenue: 4-story, mixed-use building. 42 rooms of group living accomodations and 1,000 SF of retail. Submitted in December 2018.

2748 San Pablo Avenue: 4-story building. 23-unit affordable housing complex. Now accepting resident applications.

2612 San Pablo Avenue (AKA 1050 Parker Street/2700 10th Street): 61,000 SF. Kaiser Permanente medical office, 3-story building. Approved May 2019.

1500 San Pablo Avenue: 5-story, mixed-use development. 170 residential units and 11,000 SF of commercial space. Under construction.

2100 San Pablo Avenue: 4-story development. 96-unit elder residential memory care/assited living. Approved 2017.

2198 San Pablo Avenue: 6-story building. 56 units and 3 live/work. Approved May 2019.

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1740 San Pablo Avenue: 5-story, mixed-use development. 48 units over ground floor commercial.Approved 2018.

2527 San Pablo Avenue: 6-story, mixed-use building. 63 units. Approved.

1835 San Pablo Avenue: 6-story, mixed-use development. 95 units, 4 live/work.Under review.

• San Pablo Avenue is Berkeley’s largest commercial corridor

• As of Q4 2017, the district’s vacancy rate by square footage was 5.5%, the lowest recorded in 5 years

• Retail performance along the San Pablo corridor, measured by sales tax revenue, has been increasing since 2012 (up 23%)

• Experiencing explosive growth, new housing cannot be built quickly enough to catch up with rising number of high- paying jobs created in the SF Bay Area. Submarkets like Berkeley have become some of the most desirable regions in the world for investment + development (~$5.04 average rent PSF for newly built Class-A apartments)

1507-11 SAN PABLO AVENUE, BERKELEY, CASAN PABLO AVENUE DEVELOPMENTS WITHIN 1.6 MILES OF SUBJECT PROPERTY

1507-11 SAN PABLO

AVENUE


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SOakland International Airport

SFO

To San Jose

Ashby Ave

SUPERB PROXIMITY TO SF BAY AREA AND BEYOND

• Easy freeway access

• In vicinity of 2 Amtrak train stations

• Near 3 international airports (OAK, SFO + SJC)

• Surrounded by street retail and dense residential neighborhood housing

• ± 186,841 residents within 3 miles, with an estimate of ± 212,829 in 2024 (2010, Loopnet)

• 1.5 miles to Downtown Berkeley

• 1.5 miles to UC Berkeley

• 10 miles to San Francisco

• 1 hour to Napa, San Jose, and Silicon Valley

• 1.5 hours to Sacramento

San Pablo Ave

1507-11 SAN PABLO

AVENUE

University Ave


Everett & Jones Barbeque Subway Casa Latina Bakery Albatross PubEl PatioWanted Restaurant La CapillaLuca Cucina ItalianaLanesplitter Pizza & Pub

FOURTH STREET eateries include: Bette's Diner, Tacubaya, Artís Coffee Peet's Coffee, Zut! Restaurant, Lyasare Restaurant, Project Juice

RESTAURANTS, CAFÉS AND BARS Acme Bread Bartavelle Coffee & Wine BarStella Nonna Cafe LeilaChipotle Mexican GrillFunky Elephant Thai FoodMountain Mike's PizzaIndus VillageHighwire Coffee RoastersGaumenkitzel Alfonso's Cafe Acme Bar & Company La Marcha Tapas Bar

FITNESSBerkeley CrossFit Addison Yoga Loft BerkeleyThe Yoga Room

CorePower Yoga SoulCycle West Berkeley Fencing Club

RETAIL


7

STRAWBERRY CREEK DESIGN CENTER

FOURTH STREET

1507-11 SAN PABLO

AVENUE

1507-11 SAN PABLO AVENUE, BERKELEY, CANEARBY AMENITIES MAP

Cam

elia

StGILMAN

DISTRICT

To Marin/Napa/Sacramento To San Francisco/Oakland/San Jose

Blick Art MaterialsUchi Furniture Dave's Record ShopKermit Lynch Wine MerchantBerkeley Cycle WorksHalmar Work Clothes Center The Spanish TableEast Bay Vivarium

FOURTH STREET shops include: Apple Store, Madewell, Sur La Table, Lululemon, MAC Cosmetics, CB2, Paper Source, Builders Booksource, Anthropologie, Z Gallerie, Sephora, The Gardener, Amazon 4-star

Whole Foods Market REI CoopRoad Runner SportsWalgreensOffice Depot Berkeley Lighting Co.Paper Plus Metro Lighting Alpha Design Custom FurnitureKEETSA Mattress StoreMi Tierra FoodsAnimal Farm Discount Pet FoodsFenton MacLaren Home Furnishings

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PLAT MAP


DEVELOPMENT STANDARDS

Zoning for the site allows for multi-story commercial, live/work,

mixed use, and solely residential.

Development Standards: C-W Zoning District

• Floor Area Ratio (FAR) shall not exceed three

• Building Height Limitations are as follows:

USE TYPE HEIGHT (FEET) STORIES (NUMBER)

Commercial Only 40 3

Live/Work Only 40 3

Residential Only 40 3

Maximum Height* 50 4

* Special Requirement: 4th floor must be residential or live/work

The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.

Development standards are subject to a site-specific city review and approvals.


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NEIGHBORHOOD

The information contained herein has been provided by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we cannot guarantee it. All information should be verified prior to selling.



Documents

Development or Creative Reuse Opportunity : : 1507-11 SAN ... · GORDON COMMERCIAL REAL ESTATE SERVICES 2091 Rose Street, Berkeley, CA 94709 • • T 510 704-1800 • F 510 704-1830