Investment Overview

Marcus & Millichap is pleased to present for sale a 7,000-square-foot multi-tenant retail strip center situated along Greenback Lane in Citrus Heights, California. The property is 80 percent occupied by two established, long-term tenants, with one 1,400-square-foot suite available, offering an investor both in-place income and immediate upside through lease-up of the vacancy. Positioned on Greenback Lane — one of the Sacramento region's primary east-west retail corridors — the property benefits from exceptional visibility and traffic flow, with more than 62,800 vehicles per day passing directly in front of the property. It is surrounded by numerous national retailers, providing excellent synergy and consistent foot traffic. Constructed in 1979 on a 1.04-acre parcel, the property reflects pride of ownership with longstanding tenants and a well-maintained building, and its generous land-to-building ratio provides ample on-site parking and strong street presence relative to competing centers along the corridor. Both occupied suites are leased on NNN terms, with tenants reimbursing CAM, insurance, and real estate taxes, minimizing landlord expense exposure and providing a stable, predictable net income stream. The tenant mix includes Leslie's Pools and Shop Smart. Leslie's Pools, the anchor and longest-standing tenant, occupies 4,046 square feet, or 57.8 percent of the center, with a lease that commenced in November 1987 and runs through October 31, 2030 — a tenancy of nearly four decades that speaks directly to the strength of the location. Shop Smart, an insurance agency, occupies 1,554 square feet, or 22.2 percent, with a lease that commenced in 2003 and expires May 1, 2031. The remaining 1,400 square feet, representing 20 percent of the gross leasable area, is currently vacant and underwritten at $1.50 per square foot NNN, providing a new owner immediate opportunity to increase cash flow. Citrus Heights, a bustling suburb northeast of Sacramento, offers a blend of suburban charm and urban convenience. Known for its established residential areas, excellent parks, and easy access to shopping and dining, it is a desirable location for both residents and businesses, ideally positioned near major transportation routes offering quick access to Sacramento's urban core. The population within a three-mile radius exceeds 148,000, and within five miles surpasses 353,000, ensuring a robust customer base and steady demand for retail services. The trade area is affluent by regional standards, with average household income of $111,074 within five miles, and a daytime population of more than 288,000 within five miles further reinforces the corridor's retail demand drivers. This property offers investors a unique opportunity to acquire a well-located neighborhood retail center on a proven retail corridor, with durable in-place tenancy, NNN lease structure, and near-term upside through lease-up and contractual rent growth. The combination of decades-long tenant retention, exceptional traffic counts, and a strategic location amidst national retailers creates a desirable investment, further enhanced by the property's proximity to residential neighborhoods, major retailers, and major transportation routes.