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1825 I Street

Sacramento, CA 95811
  • $1,980,000
  • STATUS: Active
  • ON SITE: 39 Days
  • MLS #: 224021938
$1,980,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,840
    SQFT
  • $516
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1950
County:

School Ratings & Info

Description

1825 - 1827 I Street is a triple net leased investment located in the heart of Midtown, Sacramento. The Property is currently occupied by two long-term tenants, each occupying half of the 3,600 square foot retail building and parking lot. The Mill Coffee Roasters & Tea Studio has occupied the building since 2012 and recently extended its lease through December 2029. At Ease Brewing Company, a popular local microbrewery, has occupied the building since 2017, and its lease expires in May 2025. At Ease Brewing has two, five-year options to extend its lease and is very likely to do so early given it's track record, goodwill at this location, and financial commitment to the building. The average rent among both tenants is $2.35 triple net plus an average rent of $480 per month to lease the rear parking lot for outdoor patio space. The current net operating income is $113,011.00 with both tenants paying their pro-rata share of operating expenses (including property tax increases) in addition to the base rent. The Property is being offered for $1,980,000 which equates to a 5.71% capitalization rate in the first year. Over the next 6 years of the term, the average annual return is approximately 6.14% provided At Ease exercises its first renewal option.

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Metrolist MLS logo © 2024 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2024-04-03T23:40:39.397. MetroList® MLS Terms of Use. IDX provided by BoomTown.
www.themacdonaldgroup.com/homes/148454072
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1825 I Street Sacramento, CA 95811

  • Price: $1,980,000
  • Status: Active
  • On Site: 39 Days
  • MLS #: 224021938
0
Beds
0
Baths
0
½ Baths
0.15
Acres
3,840
SQFT
$516
$/SQFT
1950
Built
Neighborhood:
Sacramento Midtown
County:
Sacramento
Area:
Sacramento Midtown
Property Description
1825 - 1827 I Street is a triple net leased investment located in the heart of Midtown, Sacramento. The Property is currently occupied by two long-term tenants, each occupying half of the 3,600 square foot retail building and parking lot. The Mill Coffee Roasters & Tea Studio has occupied the building since 2012 and recently extended its lease through December 2029. At Ease Brewing Company, a popular local microbrewery, has occupied the building since 2017, and its lease expires in May 2025. At Ease Brewing has two, five-year options to extend its lease and is very likely to do so early given it's track record, goodwill at this location, and financial commitment to the building. The average rent among both tenants is $2.35 triple net plus an average rent of $480 per month to lease the rear parking lot for outdoor patio space. The current net operating income is $113,011.00 with both tenants paying their pro-rata share of operating expenses (including property tax increases) in addition to the base rent. The Property is being offered for $1,980,000 which equates to a 5.71% capitalization rate in the first year. Over the next 6 years of the term, the average annual return is approximately 6.14% provided At Ease exercises its first renewal option.
Exterior Features

Construction Materials StuccoWood Dock Doors 0 Foundation Concrete Loading None Lot Size Dimensions 40x160 Num Of Floors 0 Parking Features StreetUncovered Roof Flat Total Parking Spaces 0

Interior Features

Cooling Central Flooring Concrete Heating Central Num Of Elevators 0 Num Of Restrooms 0 Office Sq Ft 0 Retail Sq Ft 3840 Warehouse Sq Ft 0

Property Features

Building Features 1 Restroom Per Unit12 to 18 Ft Ceilings Business Type Other Current Use Retail Electric 200 to 400 Amp Service Income Includes RentOther Lease Deposit 0 Lease Term 5 Years Location Downtown Num Of Offices 0 Num Of Tenants 2 Operating Expense Includes InsuranceUtilitiesProperty Tax Owner Pays Other Property Subtype Retail Property Type CommercialSale Sewer Public Sewer Special Listing Conditions None Tenant Pays Common Area MaintenanceSewerElectricityTaxesGasTrash CollectionWaterInsuranceJanitorial ServicesMaintenance Utilities Separate Gas Meter Water Source Public Year Renovated 0 Zoning C-2 General Commercial

Metrolist MLS logo Listing provided courtesy of Ken Turton, Broker: . Listing information © 2024 MetroList Services, Inc.


Metrolist MLS logo © 2024 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2024-04-03T23:40:39.397. MetroList® MLS Terms of Use. IDX provided by BoomTown.
 
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The MacDonald Group at PMZ Real Estate
1200 E. Orangeburg Ave Suite #202
Modesto CA, 95350