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Realty Point, Inc.

admin@realtypoint.net +1(916) 936-3930

$1,030,000

Est. payment - /mo

10,219 Sqft Lot

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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 10,219 Sqft

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

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Listed by Ken Turton, Broker

Nearby School & Business

Homes Availalbe by Area

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Realty Point, Inc.

+1(916) 936-3930

Real Estate Brokerage | CA DRE#02212763

Real Estate Brokerage CA DRE#02212763

870 57th ST Sacramento, CA 95819

Realty Point, Inc.

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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