721 9th Street

Sacramento, CA, 95814

$4,795,000

$339 per ft²
$4,795,000
$339 per ft²
Pending
Pending
 - For Sale
carpenters-square
14,130 ft²
property_type
Commercial
calendar
Built 1979
721 9th Street is a single tenant leased investment in the Heart of Downtown Sacramento. The Property is 100% leased to the County of Sacramento through April 30, 2029. The Property is being offered at $4,795,000 ($339 PSF) which results in a year-one capitalization rate of 6.63%. However, through May 2024, the tenant also pays a tenant improvement reimbursement equal to $2,731 per month, which until that date, increases the realized capitalization rate to 7.31% in the first year. As is custom with agency leases, the Tenant has an on-going right to terminate the lease starting in May 2024, the risk of which has been factored into the acquisition capitalization rate. The Property measures 14,130 RSF across three equal floors, each serviced by a common elevator and individual restroom cores. The Property is located directly across from the Gordon D. Schaber County Courthouse and walking distance to the State Capitol, Federal
MLS® ID:
222006708
Listed:
7/19/22
Updated:
8/19/22
Realty ONE Group International
Fridaleen Lou-Dizon

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Floor Description
Carpet
Cooling
Central
Heating
Central

Exterior/Building Features

Lot Size
5,118 ft² lot
Roof
Flat
Sewer
Public Sewer

Other Property Details

Area Name
10814
Garage
No
Parking
Offsite
View
N
County
Sacramento
Utilities
Other
Water Source
Public
Total Stories
3

Property History

Date
Event
Price
Value
6/22/22
Pending
-
-
5/31/22
Active
-
-
5/19/22
Pending
-
-

 

Courtesy of Ken Turton, Broker, Jon Lang

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Realty ONE Group International
Fridaleen Lou-Dizon
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