Active
1825 I Street
Sacramento CA, 95811
$1,885,000
$490.89 per sqft
Active
3,840 sqft
Commercial
Built in 1950
1825 - 1827 I Street is a triple net leased investment located in the heart of Midtown, Sacramento. The Property is currently occupied by two long-term tenants, each occupying half of the 3,600 square foot retail building and parking lot. The Mill Coffee Roasters & Tea Studio has occupied the building since 2012 and recently extended its lease through December 2029. At Ease Brewing Company, a popular local microbrewery, has occupied the building since 2017, and its lease expires in May 2025. At Ease Brewing has two, five-year options to extend its lease and is very likely to do so early given it's track record, goodwill at this location, and financial commitment to the building. The average rent among both tenants is $2.35 triple net plus an average rent of $480 per month to lease the rear parking lot for outdoor patio space. The current net operating income is $113,011.00 with both tenants paying their pro-rata share of operating expenses (including property tax increases) in addition to the base rent. The Property is being offered for $1,885,000 which equates to a 6% capitalization rate in the first year. Over the next 6 years of the term, the average annual return is approximately 6.45% provided At Ease exercises its first renewal option.
224021938
MLSⓇ ID
May 9, 2024
Updated
Map
1825 I Street
Sacramento CA, 95811
Interior Features
Total Stories
1
Interior Features
Concrete
Floor Description
Concrete
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.15 Acres
Sewer
Public Sewer
Other Property Details
Area Name
10811
Garage
No
View
No
County
Sacramento
Water Source
Public
Pool
No
Zoning
C-2 General Commercial
Buyer Agency Compensation
2%
Courtesy of Ken Turton, Broker, Jon Lang,
Listing Contact:
Data maintained by METROLIST® may not reflect all real estate activity in the market. All information has been provided by seller/other sources and has not been verified by broker. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. All interested persons should independently verify the accuracy of all information. All real estate advertising placed by anyone through this service for real properties in the United States is subject to the US Federal Fair Housing Act of 1968, as amended, which makes it illegal to advertise 'any preference, limitation or discrimination because of race, color, religion, sex, handicap, family status or national origin or an intention to make any such preference, limitation or discrimination.' This service will not knowingly accept any advertisement for real estate which is in violation of the law. Our readers are hereby informed that all dwellings, under the jurisdiction of U.S. Federal regulations, advertised in this service are available on an equal opportunity basis.
©2024 METROLIST®. All rights reserved.
Data last updated 8:22 AM UTC