5941 Lone Tree Way — Brentwood, CA (Comparable)
A California comparable (Bay Area) used to illustrate the California cap-rate premium. Multi-tenant pad at the Hwy 4 on/off ramp in Brentwood, 2019 construction, $5,460,000 / 5.25% cap on $286,511 NOI, 10-year NNN. Anchored by a Taco Bell drive-thru end cap, with Design Nails, West Coast Sourdough, and Poke House. At 5.25%, it prices ~100 bps tighter than the comparable out-of-state multi-tenant assets.
Key Facts¶
- 53,200 VPD; $154,777 avg HHI within 1 mile; 195,000 residents within 5 miles.
- Demonstrates CA pricing premium vs. Ankeny/Carrollton (6.25%).