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Office Warehouse

1210 Commerce

1210 Commerce Ave, Woodland, CA 95776

Listing Price: $2,800,000

Cap Rate
6.13%
Gross SF
22,341
Price/Gross SF
$125.33
Lot Size
1.31 acres
Year Built
1987
Rentable SF
22,341

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 1210 Commerce Avenue, a fully leased, multi-tenant flex industrial building in Woodland, California. 1210 Commerce is a rare opportunity to purchase a property with strong in-place income and exceptional value-add potential through rental upside. The project consists of one single-story industrial flex building totaling 22,341 square feet and exceptionally located near Interstate 5 and just minutes away from the Sacramento International Airport, Davis, and Downtown Sacramento. The property is located in Woodland, California. Woodland is known for its pro-growth and pro-business climate. The city lies 19 miles from Downtown Sacramento and 11 miles from Davis and is situated between Interstate 5 and State Route 113 making it an ideal location for distribution and logistics operations. The city is home to many regional distribution centers such as Target and Walgreens to name a few. The overall vacancy rate in Woodland for comparable industrial, warehouse, flex buildings between 5,000 square-feet and 50,000 square-feet is 1.4 percent. 1210 Commerce is fully leased to four tenants that have shown strong commitment to the location. The largest tenant, Bailey's Power Equipment, owns and operates the adjacent property and utilizes this location for their office operations. Vogt Western Silversmith has been at the property since 2003 and recently extended their lease for an additional three years. Alphabet Soup Childcare has six years remaining of their initial ten-year lease (2017). The current in-place rents average $1.07 per square foot per month while the surrounding comparable buildings average $1.26 per square foot per month. This represents strong in-place cash flow and also demonstrates the significant rental upside upon lease expiration. The offering presents a unique opportunity to acquire a fully leased industrial flex property in an extremely tight market. The project is well located within the City of Woodland and has strong tenant commitment, warehouse capabilities, and great in place income with significant rental upside.

Investment Highlights

  • 100% Leased to Four Tenants - Strong In-Place Income 6.13% Cap Rate
  • Sub Two-Percent Vacancy for Comparable Properties in Woodland
  • Exceptional Location - Sacramento (20 mi), Sacramento Intl Airport, Davis (11 mi)
  • Significant Rental Upside Upon Lease Expiration

Exclusively Listed By

Listing Price: $2,800,000

Cap Rate
6.13%
Gross SF
22,341
Price/Gross SF
$125.33
Lot Size
1.31 acres
Year Built
1987
Rentable SF
22,341

Investment Highlights

  • 100% Leased to Four Tenants - Strong In-Place Income 6.13% Cap Rate
  • Sub Two-Percent Vacancy for Comparable Properties in Woodland
  • Exceptional Location - Sacramento (20 mi), Sacramento Intl Airport, Davis (11 mi)
  • Significant Rental Upside Upon Lease Expiration

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 1210 Commerce Avenue, a fully leased, multi-tenant flex industrial building in Woodland, California. 1210 Commerce is a rare opportunity to purchase a property with strong in-place income and exceptional value-add potential through rental upside. The project consists of one single-story industrial flex building totaling 22,341 square feet and exceptionally located near Interstate 5 and just minutes away from the Sacramento International Airport, Davis, and Downtown Sacramento. The property is located in Woodland, California. Woodland is known for its pro-growth and pro-business climate. The city lies 19 miles from Downtown Sacramento and 11 miles from Davis and is situated between Interstate 5 and State Route 113 making it an ideal location for distribution and logistics operations. The city is home to many regional distribution centers such as Target and Walgreens to name a few. The overall vacancy rate in Woodland for comparable industrial, warehouse, flex buildings between 5,000 square-feet and 50,000 square-feet is 1.4 percent. 1210 Commerce is fully leased to four tenants that have shown strong commitment to the location. The largest tenant, Bailey's Power Equipment, owns and operates the adjacent property and utilizes this location for their office operations. Vogt Western Silversmith has been at the property since 2003 and recently extended their lease for an additional three years. Alphabet Soup Childcare has six years remaining of their initial ten-year lease (2017). The current in-place rents average $1.07 per square foot per month while the surrounding comparable buildings average $1.26 per square foot per month. This represents strong in-place cash flow and also demonstrates the significant rental upside upon lease expiration. The offering presents a unique opportunity to acquire a fully leased industrial flex property in an extremely tight market. The project is well located within the City of Woodland and has strong tenant commitment, warehouse capabilities, and great in place income with significant rental upside.

Exclusively Listed By

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