Sold
Closed
1825 I Street
Sacramento CA, 95811
$1,700,000
$442.71 per sqft
Sold
Closed
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 recently extended its lease through May 2030. As such, both tenants now have 5+ years remaining on their leases, and both have an option to extend for 5 more years after that. 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 $1,795,000 which equates to a 6.30% capitalization rate in the first year. Over the next 6 years of the term, the average annual return is approximately 6.78%
224021938
MLSⓇ ID
March 11, 2024
Listed
February 12, 2025
Updated
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
Roof
Flat
Sewer
Public Sewer
Other Property Details
Garage
No
Parking
On Street
View
No
County
Sacramento
Water Source
Public
Pool
No
Zoning
C-2 General Commercial
Listing History
Date | Event | Price |
|---|---|---|
8/17/2024 | Sold | $1,700,000 |
7/30/2024 | Pending | — |
6/4/2024 | Price change | $1,795,000 -5% |
Courtesy of Ken Turton, Broker, Jon Lang,
Listing Contact:
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