2022-2030 Del Paso Blvd
Sacramento, CA 95815
The Marcus Bldg · Retail Property For Sale
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INVESTMENT HIGHLIGHTS
- Located in Opportunity Zone
- Value add with vacant 2nd floor office
- Part of the Uptown Arts & Entertainment District
- 56% leased to state of the art laundromat
- Onsite parking plus close to light rail and bus lines
- National retailers and restaurants nearby
PROPERTY FACTS
- Storefront Retail/Office
- General Retail Storefront
AMENITIES
- Bus Line
- Corner Lot
- Air Conditioning
ABOUT 2022-2030 DEL PASO BLVD , SACRAMENTO, CA 95815
Opportunity to acquire a +/- 7,850 sf two-story retail/office building in the Uptown Arts & Entertainment District along the Del Paso Blvd corridor near Downtown Sacramento. The 1st floor space, comprising +/- 4,392 sf, is NNN leased for 10 years (through 9/3/2028) to a state-of-the art laundromat (Super Wash n Dry), which opened in 2018. The lease rate increases 2.0% annually, including during three 5-year renewal option periods. The property is zoned C-2 (General Commercial) and is positioned along a bus line and near light rail with national retailers close by, including Walgreens, McDonald’s, Carl’s Jr., and Popeyes Louisiana Kitchen. Parking is available (12 spaces) on the adjacent lot through a long-term agreement that runs co-terminus with the laundromat lease. The $950,000 sale price reflects a 7.0% cap rate on 1st floor income plus $46 psf for the vacant 2nd floor, which is fully built-out for office and ready for occupancy. The +/- 3,458 sf upstairs space offers an open floor plan, multiple private offices, large conference room and kitchen. Asking lease rate is $0.95 psf (Modified Gross).
PROPERTY TAXES
Parcel Number | 275-0101-002 | Improvements Assessment | $769,375 |
Land Assessment | $137,957 | Total Assessment | $907,332 |
Listing ID: 18035267
Date on Market: 12/24/2019
Last Updated:
Address: 2022-2030 Del Paso Blvd, Sacramento, CA 95815
The Old North Sacramento Retail Property at 2022-2030 Del Paso Blvd, Sacramento, CA 95815 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.
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