Downtown Danville has fared quite well through the downturn in the economy. Vacancy remains low despite a few open spaces along Railroad Avenue. In my experience, I have had more tenants & restaurant owners interested in space in Danville than any other town/city. Upon further inspection a vast majority of tenants are then turned away by the high rents (most of the time above $3.00 per square foot plus triple net expenses).
Existing restaurant space is a rarity no matter where you are but nearly impossible in Danville. Rumor has it the town will not allow anymore full liquor licenses in the downtown core. Since there are currently zero available restaurants in downtown to my knowledge, I have found two other solutions for those looking for restaurant space.
Danville Livery & Mercantile
1,850± square feet of general retail space is available. The landlord would like to have a high-end restaurant in this space. The location is on an end cap toward the front of the center and offers potential patio space. Although this is not an existing restaurant, the landlord would cover the cost associated with the sewer connection. The landlord is willing to negotiate a lengthy rent abatement period during construction and opening of the establishment for the right tenant.
Asking price: $3.50 per square foot plus $1.00 per square foot in triple net expenses
The average gross sales in the Livery is $400-$1,200 per square foot
629 San Ramon Valley Blvd. – Former Deli Space
At 2,100± square feet, this former deli is in need of some TLC. Situated on San Ramon Valley Blvd., it is highly visible and the rent price is reasonable. The kitchen area is large and offers a type I hood, dish station, two walk-in refrigerators, and a lot of equipment. The biggest problem is the lack of ADA restrooms and the general flow of the space. The next tenant will need to do some reconfiguring of the space to accomodate a larger seating area able to service a higher number of diners. Another upside, there is a patio component to the space.
Asking rent: $2.85 per square foot plus $0.40 per square foot in triple nets