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Turn-Key Restaurant For Lease or Sale. 643 Emerson St
5,590 SF of Retail Space Available in Palo Alto, CA 94301
Highlights
- Located in Downtown Palo Alto
- Walking Distance to Palo Alto Caltrain Station
- Surrounded by Numerous, Prominent Restaurants and Nobu Hotel
- 400 amps.
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 5,590 SF | 10 Years | $55.80 /SF/YR $4.65 /SF/MO $311,922 /YR $25,994 /MO | Triple Net (NNN) |
1st Floor
Please contact exclusive listing broker, with any questions. Please do not disturb existing tenant or employees with any questions about the property or the listing. 4,000 sf of ground floor space and 1,590 sf on the 2nd floor, (5,590 sf total building) - on 4,000 sf of land parcel.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Restaurant or Café Space
- Located in-line with other retail
- Space is in Excellent Condition
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 643 Emerson St , Palo Alto, CA 94301
| Property Type | Retail | Gross Leasable Area | 5,590 SF |
| Property Subtype | Restaurant | Year Built | 1947 |
| Property Type | Retail |
| Property Subtype | Restaurant |
| Gross Leasable Area | 5,590 SF |
| Year Built | 1947 |
About the Property
Please do not disturb existing tenant or employees with any questions about the property or the listing. A sale will require the seller coordinating a 1031 exchange into a real estate partnership with a group of investors. 5,590 sf not divisible. Existing restaurant tenant would like to extend their lease, we need to consider our options first. No parking on-site. Easy 2 hour street parking, plus City parking for employees is only $75/month in the University Ave area. https://www.cityofpaloalto.org/Departments/Transportation/Parking/Employees Current asking sale price = $6,500,000 $311,882.99 Annually / $25,990.25 Monthly / 5,600 sf = $4.65/sf NNN. Current cams = $2,400 / month / 5,600 sf = $0.43/sf/month. CD-C(GF)(P): Retail, Restaurant, Liquor store. Personal service, trade school, church, studio, classes, school, day care, adult day care/nursing home, kennel, financial service office, business office*, medical office*, club, day care. CUP required: commercial recreation. Development: Hotel, multi-family residential. *public facing office might be permitted on the 1st floor depending on the use, otherwise as part of multi-story development. Zoning Details: CD-C(GF)(P) https://codelibrary.amlegal.com/codes/paloalto/latest/paloalto_ca/0-0-0-78321#JD_Chapter18.18 PAMC 18.18 - See Table 1 for “CD Permitted and Conditionally Permitted Uses” https://codelibrary.amlegal.com/codes/paloalto/latest/paloalto_ca/0-0-0-79270#JD_Chapter18.30B PAMC 18.30(B) - See “Use Limitations and Site Development Regulations” https://codelibrary.amlegal.com/codes/paloalto/latest/paloalto_ca/0-0-0-79295 PAMC 18.30(C) – See “Permitted Uses” & “Conditional Uses” https://codelibrary.amlegal.com/codes/paloalto/latest/paloalto_ca/0-0-0-76370 PAMC 18.04 Definitions of various use categories
Nearby Major Retailers
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Turn-Key Restaurant For Lease or Sale. | 643 Emerson St
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