Price Reduction
Address
1825 I Street, Sacramento, CA
Price
$ 1,885,000
Property Attributes
- MLS#224021938
- TypeCommercial
- CountySACRAMENTO
- CitySacramento
- AreaSacramento
- Zip95811
- StyleRetail
- Price$ 1,885,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage3840
- Lot Size6,399 SqFt
Data Source:
MetroList MLS
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 $1,885,000 which equates to a 6% capitalization rate in the first year. Over the next 6 years of the term, the average annual return is approximately 6.45% provided At Ease exercises its first renewal option.
| Price History | |
|---|---|
| 3/11/2024 | Listed $1,980,000 |
| 4/18/2024 | 5% - $1,885,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Central |
| Cooling | Central |
| Utilities | Separate Gas Meter |
| Roof | Flat |
| Construction Materials | Stucco,Wood |
| Year Built | 1950 |
| Electric | 200 to 400 Amp Service |
| Tenant Pays | Common Area Maintenance,Sewer,Electricity,Taxes,Gas,Trash Collection,Water,Insurance,Janitorial Services,Maintenance |
| Stories | 1 |
| Loading | None |
| Property SubType | Retail |
| Current Use | Retail |
| Location | Downtown |
| OwnerPays | Other |
| Business Type | Other |
| County | Sacramento |
| Property Type | CommercialSale |
| Building Features | 1 Restroom Per Unit,12 to 18 Ft Ceilings |
| Close Price | 0.0 |
| Status | Active |
| Directions | Located near the corner of 19th and I Street. |
| City | Sacramento |
| Buyer Agent Compensation | 2 |
| Zoning Description | C-2 General Commercial |
| Total Units | 2 |
| MLS Area | 10811 |
| Lot Size Square Feet | 6399.0 |
| Street Name | I |
| Ok to Lease | 5 Years |
| Standard Status | Active |
| Year Built Source | Assessor Auto-Fill |
| Buyer Agent Compensation Type | Percent |
Interior Features
| Flooring | Concrete |
|---|---|
| Street Suffix | Street |
Exterior Features
| Parking Features | Street,Uncovered |
|---|---|
| Water Source | Public |
| Total Parking | 0.0 |
| Foundation Details | Concrete |
| Number of Buildings | 1 |
| Building Area Total | 3840.0 |
| Lot Dimensions | 40x160 |
| Lot Size Acres | 0.1469 |
| Lot Size Source | Assessor Auto-Fill |
| Parking Ratio | 0.0 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 95811
Price
Visits
Year Built
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 maintained by MetroList© may not reflect all real estate activity in the market.
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MetroList CA data last updated: May 5, 2024 11:38 AM UTC 