Sacramento, CA 95811,1825 I ST
Sacramento, CA 95811,1825 I ST
Sacramento, CA 95811,1825 I ST
10
$1,700,000
$1,795,000
5.3%
Est.Price: ?

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6,399 Sqft Lot

1825 I ST Sacramento, CA 95811

Est. payment /mo
SOLD DATE : 08/17/2024

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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

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MetroList® Services, Inc (RESO)
Listed by Ken Turton, Broker
Bought with Ken Turton, Broker

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Epique Realty

Company | License ID: DRE01797917

+1(512) 387-0722

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