Hilltop Center, located
at 2920-2928 Hilltop Mall Rd, Richmond, Ca. Hilltop Center is a
14,570 sf Office/Retail complex, comprised of two buildings on
two separate parcels. The property offers stable tenants, excellent
visibility and signage as well as an unequaled location across
from the Hilltop Mall, now known as Hilltop By The Bay, a 1.2
million square foot shopping center under redevelopment.
Hilltop Center is currently leased to two long term tenants that
occupy 100% of the rear building. The front and most visible
building is available and demised for multiple tenants, owner/
user, or can be combined to offer one space measuring 9,590 sf.
Strong Submarket Fundamentals
Hilltop Center is one of the only available Office or Retail properties
in direct proximity to the redevelopment of Hilltop By The Bay.
The property generates strong cashflow and offers an attractive upside. At only 34% occupancy, current in place
NOI is $210,000 with long term leases from a licensed cannabis tenant.
Opportunity to almost double the rental income with lease up of the currently vacant space. See projections
provided on page 10.
Discount to Replacement Cost
Current cost to replace the land and existing improvements are estimated to be substantially higher, thus providing
the new owner substantial rental protection.