For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $1,700,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 224021938
Sold Date 08/17/24
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1950
Lot Size 6,399 Sqft
Acres 0.1469
Lot Dimensions 40x160
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 recently extended its lease through May 2030. As such, both tenants now have 5+ years remaining on their leases, and both have an option to extend for 5 more years after that. 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 $1,795,000 which equates to a 6.30% capitalization rate in the first year. Over the next 6 years of the term, the average annual return is approximately 6.78%
Location
State CA
County Sacramento
Area 10811
Direction Located near the corner of 19th and I Street.
Location Details Downtown
Interior
Heating Central
Cooling Central
Flooring Concrete
Exterior
Garage Street, Uncovered
Utilities Available Separate Gas Meter
Water Access Desc Public
Roof Type Flat
Building
Story 1
Foundation Concrete
Sewer Public Sewer
Water Public
Others
Senior Community No
Tax ID 007-0011-015-0000
Special Listing Condition None
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Ken Turton, Broker
Get More Information
- San Francisco, CA
- Oakland, CA
- San Diego, CA
- Berkeley, CA
- Palo Alto, CA
- San Jose, CA
- Concord, CA
- Fremont, CA
- Marin, CA
- Santa Clara, CA
- Daly City, CA
- San Ramon, CA
- Hercules, CA
- Vallejo, CA
- Benicia, CA
- Fairfield, CA
- Redwood City, CA
- Richmond, CA
- Atherton, CA
- Alameda, CA
- Hayward, CA
- Pleasanton, CA
- Livermore, CA
- San Leandro, CA
- Vacaville, CA
- Cupertino, CA
- Walnut Creek, CA
- Dublin, CA
- Castro Valley, CA
- Mill Valley, CA
- Tiburon, CA
- Sausalito, CA
- Napa, CA
- American Canyon , CA
- San Rafael, CA
- Mountain View, CA
- Sunnyvale, CA
- Los Gatos, CA
- Tracy, CA
- Brentwood, CA
- Oakley, CA
- Discovery Bay, CA
- Orinda, CA
- Moraga, CA
- Lafayette, CA
- Alamo, CA
- Foster City, CA