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721 9th Street

Sacramento, CA 95814
  • $4,795,000
  • STATUS: Pending
  • ON SITE: 120 Days
  • MLS #: 222006708
Pending
UPDATED: 58 min ago
$4,795,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 14,130
    SQFT
  • $339
    $/SQFT
Type:
Commercial
Built:
1979
County:

School Ratings & Info

Description

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

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Metrolist MLS logo © 2022 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2022-05-24T19:39:27.197. MetroList® MLS Terms of Use. IDX provided by BoomTown.
www.sachousesforsale.com/homes/124999161
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721 9th Street Sacramento, CA 95814

  • Price: $4,795,000
  • Status: Pending
  • On Site: 120 Days
  • Updated: 58 min ago
  • MLS #: 222006708
0
Beds
0
Baths
0
½ Baths
0.12
Acres
14,130
SQFT
$339
$/SQFT
1979
Built
Neighborhood:
Sacramento Downtown/Midtown
County:
Sacramento
Area:
Sacramento Downtown/Midtown
Property Description
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
Exterior Features

Construction Materials Masonry Dock Doors 0 Loading None Num Of Floors 0 Parking Features Offsite Roof Flat Total Parking Spaces 0.00

Interior Features

Cooling Central Flooring Carpet Heating Central Num Of Elevators 0 Num Of Restrooms 0 Office Sq Ft 14130 Retail Sq Ft 0 Warehouse Sq Ft 0

Property Features

Building Features 1 Restroom Per UnitConference RoomRestroom(S)-PrivateElevator(S) Business Type Commercial Electric Separate Electric Meter Income Includes Rent Lease Deposit 0 Location Downtown Num Of Offices 0 Num Of Tenants 0 Property Subtype Office Property Type Commercial Sale Sewer Public Sewer Special Listing Conditions None Tenant Pays ElectricityGas Utilities Other Water Source Public Year Renovated 1905 Zoning C-3-Spd Central Bus District

Metrolist MLS logo Listing provided courtesy of Ken Turton, Broker: . Listing information © 2022 MetroList Services, Inc.


Metrolist MLS logo © 2022 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2022-05-24T19:39:27.197. MetroList® MLS Terms of Use. IDX provided by BoomTown.
 
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Parm Atwal Real Estate Team | Keller Williams Realty
4080 Truxel Road, Suite 100
Sacramento CA, 95834