east sacramento portfolio sale · 2747 riverside blvd. sacramento, ca 95818 ca bre lic c01929348...

NOR CALCOMMERCIALReal Estate

2747 Riverside Blvd.Sacramento, CA 95818

CA BRE LIC #C01929348

916-443-1500 916-443-1556 FAX

This statement with the information it contains is given with the understanding that all negotiations relating to the purchase or leasing of the property described above shall be conducted through this office. The above information while not guaranteed has been secured from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty, or representation about it. It is submitted subject to the possibility of errors, omissions, change of price or rental, or other conditions, prior lease, sale, financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own independent investigation of all aspects of the property and transaction.

EXCLUSIVE AGENT: DAVID MACKO [email protected] 916-443-1556 FAX CA BRE LIC #01413910

EAST SACRAMENTO PORTFOLIO SALE3301-3325 Folsom Blvd ◊ 3331 Folsom Blvd.

1432-1434 34th Street ◊ 1440 34th Street




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EXECUTIVE SUMMARY

Nor Cal Commercial Real Estate, exclusive advisor, is

pleased to present the opportunity to acquire a 100% fee

simple interest in two parcels, and four structures known

as 3301-3325 Folsom Blvd., 3325 Folsom Blvd., 1432-

1434 34th Street, and 1440 34th Street – all being offered

at $4,500,000. The offering is an excellent opportunity

to acquire premier commercial real estate in the most

exclusive neighborhood in Sacramento as a cash flowing

investment or a future redevelopment opportunity.

FINANCIAL INFORMATION

Price $4,500,000In Place NOI $206,764 4.6% CAPProforma NOI $314,464 7.0% CAP

BUILDINGS

3301-3325 Folsom Blvd 8,400 sf3331 Folsom Blvd. 2,500 sf1432-1434 34th Street 2,400 sf1440 34th Street 1,150 sf

PARKING

Parking spaces 16PARCELS

007-0223-16 .37 AC.007-0223-08 .16 AC.

.53 AC.




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ECONOMIC UNDERWRITING

2018 Actuals

$312,924 Annual Gross Income

($9,387) 3% Vacancy Factor

$303,539 Adjusted Gross Income

($54,000) Property Tax (1.2% of offering price)

($13,782) Utilities

($ 7,596) Management

($ 9,715) Insurance

($ 64) Rental License

($ 277) Alarm Monitor

($11,338) Repairs and Maintenance

($96,772) Total Operating Expense

$206,764 Net Operating Income

$431,472 Annual Gross Income

($21,573) 5% Vacancy Factor

$409,898 Adjusted Gross Income

($ 54,000) Property Tax (1.2% of offering price)

($ 15,000) Utilities

($ 15,000) Management

($ 9,000) Insurance

($ 64) Rental License

($ 277) Alarm Monitor

($ 7,000) Repairs and Maintenance

($ 5,000) Impound for Capital Expense

($105,341) Total Expense

$314,583 Net Operating Income

Pro Forma (2021-2022)




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WEST FOLSOM BOULEVARD COMMERCIAL CORRIDOR

80

80

CAPITAL CITY FREEWAY

Parry Physical Therapy

Picasso Spa & Nails

FO

LS

OM

BLV

D.

SUBJECT PROPERTY

ALHAMBRA BLVD.

Bleu Boutique




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TENANT PROFILE

33rd Street Bistro –

Established in 1995 this neighborhood favorite

offers a popular menu for breakfast, lunch and

dinner. They also offer brunch and happy hour

specials.

33rd Street Bistro offers a full bar, outdoor

seating and a full service banquet room.

Eyes of East Sacramento –

A full service optometry office service the East

Sacramento neighborhood and surrounding

areas. The team consists of Susana Belmonte,

O.D. and Arlene Espirito, O.D..

They offer services for myopia control, contact

lens exams and fittings, pediatric eye care and

eye health examinations.

RENT ROLL

3301-3325 FOLSOM BLVD AND 1432-1434 34TH STREET

TENANT SIZE EXPENSE STRUCTURE EXPIRATION DATE

33rd Street Bistro 3,400 sf modified gross Month to month

Eyes of East Sacramento 1,780 sf modified gross 5/31/2024

Bleu 900 sf modified gross 12/31/2021

Heavenly Salt Spa 2,300 sf modified gross 6/31/2021

Duplex 1,000 sf modified gross annual leases

3331 FOLSOM BLVD. AND 1440 34TH STREET

TENANT SIZE EXPENSE STRUCTURE EXPIRATION DATE

Boulevard French Cleaners 2.500 sf modified gross 9/30/2026

Duplex 1,800 sf modified gross annual leases

Bleu –

A popular spot in the neighborhood. Bleu sells a large range of home products and clothing.

Customers drop by regularly to check out the always changing inventory of

Furniture, original and reproduction artwork, and other home goods.

Boulevard French Laundry – A fixture in East Sacramento for over 15 years. Boulevard French Laundry offers to quality

complete dry cleaning and laundry service as well as Cleaning solutions for custom and

specialty items such as wedding dresses, draperies, and bedding.

Heavenly Salt Spa –

Heavenly Salt Therapy offers a relaxing environment for its halotherapy service. What is salt

therapy? It is a natural therapy that has been

Practiced for over 100 years. Customers come in and relax in a room filled with dry salt

particles to help cleanse airways and skin. Heavenly Salt Space offers services ranging from

halotherapy, infrared sauna, Swedish massage, deep tissue massage and pre-natal massage.




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REGIONAL OUTLOOKSACRAMENTO AREA OVERVIEW

HWY 80 / HWY 50

Land P

ark

Drive

16th

St.

BROADWAY

SUBJECT PROPERTY

Sacramento Historic Cemetery

UPPER LAND PARK

LAND PARK

CURTIS PARK

OAK PARK

NORTH OAK PARK

EAST SACRAMENTOMIDTOWN

DOWNTOWN

SACRAMENTO

Poverty Ridge

Boulevard Park

Southside Park

McKinley Park

Alhambra Triangle

The Mill at Broadway

US50

80

5

80




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NEIGHBORHOOD HIGHLIGHTS

Incredibly rare value add opportunity in the highly desirable East Sacramento submarket, home to some of

the Sacramento regions most desirable neighborhoods including the Fabulous Forties and McKinley Park.

McKinley Park

McKinley Park is a major 32-acre (130,000 m2) park located in East Sacramento. The park is bordered to the

north by McKinley Boulevard, to the south by H Street, by Alhambra Boulevard to the West and 33rd Street

to the East. There is also a smaller, adjacent park located across 33rd Street. A branch of the Sacramento

Public Library is located in the north wing of the Clunie Clubhouse, a community center located at the park.

The library which serves East Sacramento, Midtown, and River Park has 45,000 volumes. There is also a small

lake and 8 tennis courts. The smaller park includes the Shepard Garden and Arts Center. The park is a popular

place for runners and walkers.

Quality of life: Greater East Sacramento and McKinley Park are highly sought after neighborhoods due partly

to their central freeway location, proximity to the Midtown area and the State Capital corridor. East Sac home

prices have seen the largest price appreciations relative to size of any area in Sacramento. Additionally the

Midtown factor, an area which has seen an explosion in the number of fine dining offerings, monthly social

events and public art and performance offerings, weighs heavily on the popularity of East Sac due in part

to its relative ease of access to this area via bike, public transportation or just walking. Schools, community

activities, a relative sense of security and the number of outdoor, social and recreational diversions make for a

pleasant mix of outdoor offering that encourage and foster a strong sense of community.

Fabulous Forties

The Fab Forties neighborhood is part of the East Sacramento district. President Ronald Reagan lived at 1341

45th Street while serving most of his term as Governor of California. The “Fab ‘40s” is the historic terminus of

a once extensive streetcar network that covered nearly all the historic neighborhoods of the city. Forty-sixth

street at J Street was the turnaround point for the J Street Line making it one of the widest streets in East

Sacramento. The lots between 38th and 47th Streets and bordered by J Street and Folsom Boulevard are

among the largest in East Sacramento, creating the concentration of larger houses that gave rise to the area’s

name. Up until the Great Depression, the grand homes of the “Fab ‘40s” were considered to be the modern

day equivalent of a suburban mansion. Now they are considered architecturally spectacular large to mid-sized

houses in a very pricey location. Additionally the demand for larger and more modern housing has created an

interesting surge in the number of remodels and multi story additions throughout the McKinley Park and East

Sacramento community. The Fab Forties neighborhood is home to a deodar cedar tree (cedrus deodara) that is

over 100 years old.

East Sacramento is also home to 3 major medical institutions; Sutter hospital (.41 miles), Dignity Health Mercy

Hospital (.61 miles) and UC Davis Medical Center and Aggie Square (.91 miles).




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SACRAMENTO AREA OVERVIEW

Sacramento is the capital of the State of California and the seat

of Sacramento County. The city is located towards the north

of California’s expansive Central Valley and has an estimated

population of 495,234, making it the sixth most-populous city

in California. The four-county Sacramento MSA has 2.27 million

residents, making it the largest MSA in the Central Valley and the

fourth largest in California behind greater Los Angeles, the San

Francisco Bay Area and San Diego.

Situated approximately 85 miles northeast of San Francisco,

Sacramento is at the intersection of two major interstate freeways

(I-5 and I-80) and at the confluence of the Sacramento and

American rivers. The area is also served by a number of rail

lines including the Amtrak Capital Corridor. This, in addition to

convenient access to airports, rail and a deep-water port, makes

Sacramento well connected both regionally and nationally.

Sacramento is increasingly regarded as a leading business

location due to its growing, well-educated population, affordable

cost of living, plentiful amenities and overall high quality of life.

CAPITAL CITY OF THE WORLD’S SIXTH LARGEST ECONOMY

In 2016, California leapfrogged France and Brazil to move from

8th to 6th place in the IMF world economy rankings with a GDP

of $2.46 trillion. California is the only state on the list of nations

and currently sits between the United Kingdown in fifth place

($2.85 trillion GDP) and France ($2.42 trillion GDP). As California

continues to become more of a global player, Sacramento will

continue to grow in significance as a city and the seat of the

legislative body that governs the state.

Downtown Sacramento

east sacramento portfolio sale · 2747 riverside blvd. sacramento, ca 95818 ca bre lic c01929348...

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