Investment Summary
Price | $3,650,000 |
Cap Rate | |
NOI | |
Lease Term | 8 Years |
Lease Type | |
Rental Increases | 3% Rental Increase Every 2 Years |
Year Built | 2009 |
Building Size | 7,020 SF |
Lot Size | 0.95 Acres (41,382 SF) |
Status | Sold |
Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Fritz Brown Brown Stevens Elmore & Sparre 916.425.1353 fritz@brownstevens.com CA RE License #00312635 |
Investment Highlights
ABSOLUTE NNN CORPORATE LEASE TO HIGH-QUALITY TENANT
» Absolute NNN lease, with all expenses paid by tenant, requiring no landlord management
» 3% rental increases every two years in initial term and option periods, providing a hedge against inflation
» Community Business Bank experienced a 27% increase in deposits between 2015 and 2016 and has been ranked among the best banks in the nation
PRIME LOCATION IN UNIQUE SUPER REGIONAL POWER CENTER
» Strategically located within Riverpoint Marketplace, the premier power center in the Sacramento region
» Riverpoint Marketplace is anchored by the largest Walmart Supercenter and the only Ikea in the Sacramento MSA — the closest Ikea is over 75 miles away (Bay Area)
» Riverpoint Marketplace has unparalleled visibility and access to 154,800 vehicles per day on Interstate 80
CLOSE PROXIMITY TO MAJOR DEVELOPMENTS AND EMPLOYMENT CENTERS
» Less than two miles from the Bridge District, featuring luxury apartments, Raley Field, and the Barn, an indoor/outdoor event center visited by over 40,000 people in its 2016 opening season
» Close proximity to the Railyards, slated to include a Kaiser Medical Center, a 25,000-seat soccer stadium, 10,000 residential units, and a 1,100-key hotel
» Near the River District, a 773-acre transit-oriented mixed use urban development that is one of Sacramento’s best performing economic engines
» Minutes from Downtown Commons, home of the new Golden 1 Center
» Adjacent to several major employment centers — 192,707 daytimes employees work within a five-mile radius of the site
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is strategically located at the entrance to Riverpoint Marketplace, just off the signalized intersection of Riverpoint Court and Harbor Boulevard, which experiences a high traffic volume of 19,913 vehicles per day. A unique super regional power center, Riverpoint Marketplace is notable for being anchored by the only Ikea store and the largest Walmart Supercenter store in the Sacramento region. Other anchors and notable tenants in the center include Home Depot, Ross, Petco, La-Z-Boy, Krispy Kreme, In-N-Out, Skechers, and many others. The property benefits from Riverpoint Marketplace’s massive trade area, as well as its unparalleled access and visibility to 154,800 vehicles per day on Interstate 80.
Additionally, the property is close to several massive urban infill and redevelopment projects. The property is less than two miles from the Bridge District, a 50-acre redevelopment area along West Sacramento’s waterfront that is slated to include approximately 12.5 million square feet of residential and commercial development. Several luxury apartments and condominiums, home to hundreds of new residents, have already been completed in the Bridge District, along with the Barn, an indoor/outdoor culinary and events venue that was visited by over 40,000 people in its inaugural 2016 season. The Railyards, a 244-acre urban infill development site, is located less than two and a half miles from the property. Plans for the Railyards include, among other things, 3.8 million square feet of office space, a 1.2 million square foot Kaiser Medical Center, a 25,000-seat soccer stadium, 10,000 residential units, and a 1,100-key hotel. Adjacent to the Railyards is the River District, a 773-acre transit-oriented mixed use urban environment that would include 8,144 dwelling units, 3.96 million square feet of office, 854,000 square feet of retail, 1.5 million square feet of light industrial space, and 3,044 hotel units.