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$ 1,030,000
Est. payment /mo
Active
870 57th ST Sacramento, CA 95819
10,219 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 226058351
HOA Y/N No
Year Built 1953
Lot Size 10219.000 Acres
Acres 0.2346
Property Sub-Type Retail
Source MLS Metrolist
Property Description
866-870 57th Street is a 100% leased NNN investment located in the heart of East Sacramento. The Property is currently leased to two long-term tenants, each occupying a stand-alone building on the Property. Main Event Barbers has occupied a 1,100 square foot converted home since February 2019 and recently extended its lease term through April 2029. Porchlight Brewing Company, a local microbrewery and the only on-site brewing facility in East Sac, has occupied a 2,773 square foot flex warehouse building and the adjacent outdoor patio space since June 2017 and recently extended its lease term through April 2029. Both Tenants have made considerable financial investment to their respective buildings and have developed a strong fanbase among nearby residents. The two structures total approximately 3,873 square feet situated on a 10,220 square foot parcel of land, which also includes 7 on-site parking stalls. The average rent between both tenants is $1.28 per square foot, triple net, which is about 40% below the average market rent in the area. The current net operating income is $59,638 with both tenants paying their pro-rata share of operating expenses (including property tax increases) and utilities in addition to the base rent. The Property is being offered for $1,030,000 which equates to a 5.79% capitalization rate in the first year. Over the remaining three years of term, the average annual return is 6.02%, factoring in the scheduled rent increases.
Location
State CA
County Sacramento
Area 10819
Direction Near the corner of 57th and H Streets.
Location Details Neighborhood
Interior
Heating Central
Cooling Central
Flooring See Remarks
Exterior
Parking Features Private, Street, See Remarks
Utilities Available Other
Water Access Desc Water District
Roof Type Shingle,Metal
Total Parking Spaces 7
Building
Foundation Concrete
Sewer Public Sewer
Water Water District
Others
Senior Community No
Tax ID 008-0083-023-0000
Special Listing Condition None
Listed by Ken Turton, Broker