6290 88th St
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6290 88th St
19,600 SF Industrial Building Sacramento, CA 95828 $7,249,000 ($370/SF) 8% Cap Rate
Investment Highlights
- ±19,688 SF Industrial building built in 2007
- Generous going-in Cap Rate of 8.0% with annual rent increases
- Cannabis Nursery, Genetics, and Research facility fully approved by the City of Sacramento and the State of California
- Significant Tenant Investment in the building
- NOI of $579,945.00
- Tenant is in its 6th year of occupancy with 9+ years of lease term remaining
Executive Summary
Kidder Mathews is pleased to present 6290 88th Street on behalf of the ownership as a Single Tenant NNN leased investment. The original construction was completed in 2007. The building was taken down to a shell in 2019, and the building now has a $5 Million investment in place for the Tenant Improvements and related equipment. The Tenant, Conception Nurseries, is a leader in genetic development and tissue culture micro-propagation for Cannabis. Conception does not cultivate cannabis on-site, but genetically develops and grows ‘baby’ plants or ‘clones’ that cultivators then purchase for their cultivation.
Property Facts
| Price | $7,249,000 | Rentable Building Area | 19,600 SF |
| Price Per SF | $370 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 2007 |
| Cap Rate | 8% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 1/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 20’ |
| Building Class | B | No. Drive In / Grade-Level Doors | 5 |
| Lot Size | 1.27 AC | Opportunity Zone |
Yes
|
| Price | $7,249,000 |
| Price Per SF | $370 |
| Sale Type | Investment |
| Cap Rate | 8% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 1.27 AC |
| Rentable Building Area | 19,600 SF |
| No. Stories | 1 |
| Year Built | 2007 |
| Tenancy | Single |
| Parking Ratio | 1/1,000 SF |
| Clear Ceiling Height | 20’ |
| No. Drive In / Grade-Level Doors | 5 |
| Opportunity Zone |
Yes |
Amenities
- Skylights
- Yard
Utilities
- Gas - Natural
- Water - City
- Sewer - City
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PROPERTY TAXES
| Parcel Number | 062-0160-010 | Improvements Assessment | $4,265,640 |
| Land Assessment | $728,280 | Total Assessment | $4,993,920 |
PROPERTY TAXES
Parcel Number
062-0160-010
Land Assessment
$728,280
Improvements Assessment
$4,265,640
Total Assessment
$4,993,920
zoning
| Zoning Code | M-2S (Heavy industrial) |
| M-2S (Heavy industrial) |
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6290 88th St
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