Active

1825 I Street

Sacramento CA, 95811

$1,795,000


$467.45 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 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 8, 2024

Listed

June 4, 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%

Listing History

Date

Event

Price

6/4/2024

Price Change

$1,795,000

-5%

Courtesy of Ken Turton, Broker, Jon Lang,
Listing Contact:  

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