Folsom Town Centre | 850 E Bidwell St
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Folsom Town Centre 850 E Bidwell St
43,216 SF 100% Leased Retail Building Folsom, CA 95630 $13,448,000 ($311/SF) 6% Cap Rate
Investment Highlights
- Trader Joe’s Anchored Shopping Center
- Strong Historical Occupancy – Secure, established income stream – 5 tenants (74% of the leased GLA) have occupied the property for 12+ years
- Leasing Momentum – Trader Joe’s recently exercised a 10-year renewal option
Executive Summary
* Trader Joe’s Anchored Shopping Center – Anchored by Trader Joe’s and shadow anchored by Lowe’s (NAP) along with a synergistic mix of co-tenants including Home Consignment Center, Adam’s Meat Shop, A-1 Comics, Beauty Haus Nails, and more
* Leasing Momentum – Trader Joe’s recently exercised a 10-year renewal option proving its commitment the site and the long-term viability of the shopping center
* Strong Historical Occupancy – Secure, established income stream – 5 tenants totaling ±31,817 SF (74% of the leased GLA) have occupied the property for ±12 years or more including national brands Trader Joe’s and Home Consignment Center having operated for +20 years, demonstrating a recession resistant asset with high tenant demand
* High-Traffic, Easily Accessible Location – Folsom Town Center is situated on E Bidwell St (±22,849 CPD), Montrose Dr (±5,030 CPD), and adjacent to Blue Ravine Rd (±20,705 CPD), and less than 2 miles away from El Dorado Fwy (±97,490 CPD), making the property easily accessible to local and regional patrons alike
* Growing Residential Proximity – Proximity to ±11,000 new homes recently built or planned in Folsom on the south side of Highway 50. Folsom ranks as the third fastest-growing city in California according to the State Finance Department, keeping the property busy during all days of the week
* Improving, Affluent Demographics – More than 84,807 people within a 3-mile radius, with an Average Household Income of $174,868, and more than 161,497 people within a 5-mile radius, with an Average Household Income of $188,642
* Leasing Momentum – Trader Joe’s recently exercised a 10-year renewal option proving its commitment the site and the long-term viability of the shopping center
* Strong Historical Occupancy – Secure, established income stream – 5 tenants totaling ±31,817 SF (74% of the leased GLA) have occupied the property for ±12 years or more including national brands Trader Joe’s and Home Consignment Center having operated for +20 years, demonstrating a recession resistant asset with high tenant demand
* High-Traffic, Easily Accessible Location – Folsom Town Center is situated on E Bidwell St (±22,849 CPD), Montrose Dr (±5,030 CPD), and adjacent to Blue Ravine Rd (±20,705 CPD), and less than 2 miles away from El Dorado Fwy (±97,490 CPD), making the property easily accessible to local and regional patrons alike
* Growing Residential Proximity – Proximity to ±11,000 new homes recently built or planned in Folsom on the south side of Highway 50. Folsom ranks as the third fastest-growing city in California according to the State Finance Department, keeping the property busy during all days of the week
* Improving, Affluent Demographics – More than 84,807 people within a 3-mile radius, with an Average Household Income of $174,868, and more than 161,497 people within a 5-mile radius, with an Average Household Income of $188,642
Property Facts
Sale Type
Investment
Property Type
Building Size
43,216 SF
Building Class
B
Year Built
2003
Price
$13,448,000
Price Per SF
$311
Cap Rate
6%
NOI
$806,890
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.24
Lot Size
4.15 AC
Zoning
C-2
Parking
225 Spaces (5.21 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
Walk Score ®
Very Walkable (79)
Bike Score ®
Very Bikeable (75)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 071-0320-107 | Improvements Assessment | $9,730,000 |
| Land Assessment | $3,250,000 | Total Assessment | $12,980,000 |
PROPERTY TAXES
Parcel Number
071-0320-107
Land Assessment
$3,250,000
Improvements Assessment
$9,730,000
Total Assessment
$12,980,000
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Folsom Town Centre | 850 E Bidwell St
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