Crescent City Portfolio

425 K St Crescent City, CA 95531
Crescent City, CA
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Property Details

Lease Term
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Lot Size
2.06 Acres
Building Size
24,853 SQ FT
Lease Structure
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Investment Details


  • Location
    Located on Highway 101 in the center of Crescent City (20,977 VPD)
  • Occupation
    100% Occupied Shopping Center w/ the County of Del Norte occupying 82% of the building
  • Tenants
    Occupied by County of Del Norte, Edward Jones, State Farm Insurance, & Finigan Real Estate
  • Rents
    County of Del Norte, Edward Jones, Finigan Real Estate, & State Farm are all paying 33% below market rents
  • Tenant Expansion
    County of Del Norte wants to expand and occupy the entire shopping center
  • Nearby National Tenants
    Tractor Supply, Grocery Outlet, Safeway, Papa Murphy’s, Taco Bell, Verizon,NAPA Auto Parts, McDonalds, Little Caesars Pizza, & Rite Aid
  • Shopping Center Size
    The shopping center is on a 1.24-acre lot (2 parcels consisting of 54,158 square feet) with 24,853 square feet of leasable space
  • Development Opportunity
    Property comes with 35,683 square feet (.81 acres) parking lot leased to the County of Del Norte that you can further develop for the County, QSR, Car Wash, or fuel station
  • Value Add Opportunity
    Value Add Opportunity to bump the rents to at least $1.40 psf and develop the parking lot for the county, QSR, Car Wash, or fuel station. hange gross leases to net leases to recapture the NNN’s to increase NOI
  • Investment Return
    As-Is stabilized 6% cap, but with no vacancies a stabilized 6.25% cap As-
    Is. Proforma 9% cap without developing the parking lot, Proforma 9.76% developing parking lot w/ a national tenant. Ability to achieve a 11.22% return on cash and 12.81% total yield
asking price
cap rate

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Robert Dim