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Shopping Strip

Garden Plaza

2201 Northgate Blvd, Sacramento, CA 95833

Listing Price: $3,800,000

Cap Rate
6.40%
Rentable SF
16,265
Lot Size
1.28 acres
Year Built
1985

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale a 16,265-square-foot multi-tenant retail shopping center on a 1.28-acre lot in Sacramento, California. The subject property, known as “Garden Plaza,” is 100-percent occupied (includes a two-year seller rent guarantee for suites A and B totaling 2,150 square feet). All the tenants, except for one suite, are on "Triple-Net (NNN)" leases. Originally constructed in 1985, the building consists of 13 total units occupied by a wide variety of tenant types. Garden Plaza is located on the signalized corner of Northgate Blvd and Garden Highway, roughly two miles south of Interstate-80, and less than two miles east of Interstate-5. Additionally, the property is located within a seven-minute drive of Downtown Sacramento. Sacramento is the state capitol of California and is a growing metropolitan region with the eighth largest world economy. It is the largest city in a six-county region, serving a population close to 500,000 in the city and nearly 2.5 million people in the region. Sacramento continues to be a highly desired choice to live for people seeking an affordable live-work-play lifestyle giving its proximity to the Bay Area, Napa Valley, and Lake Tahoe. As a result of the high exposure location, many local, regional, and national retailers have chosen to reside in this area. Some of the retailers in the immediate area include 99 Cents Only Store, Pizza Hut, Kiki’s Chicken, Shan Market, Metro by T-Mobile, California Check Cashing Store, and 7-Eleven. In addition to a plethora of retailers nearby, the population within a three-mile radius is 146,726, as well as the population within a five-mile radius being 354,876. (see included aerial photo). Consisting of 13-total suites, the property has historically held a high occupancy level. Furthermore, the leases have staggered lease expiration dates mitigating vacancy exposure upon lease rollover. Tenants within the center include Carnitas El Rincon Mexican Restaurant, Mile High Clothing, Stunning Esthetics Nail Salon, Gumbo King Restaurant, Zen Garden Dispensary, Conquer Printing, Stars Beauty Salon, Natomas Christian Center, Elevated 916 Smoke Shop, and Mega Success Insurance Services.

Investment Highlights

  • Hard Signalized Corner (Northgate Boulevard and Garden Highway)
  • Absolute NNN Leases (Tenants Reimburse for their Pro-Rata Share of Expenses)
  • Twelve-Tenants (Low Exposure Upon Lease Turnover)
  • Seller Rent Guarantee for Units A and B (Two-Year Guarantee)

Exclusively Listed By

Shopping Strip

Garden Plaza

Listing Price: $3,800,000

Cap Rate
6.40%
Rentable SF
16,265
Lot Size
1.28 acres
Year Built
1985

Investment Highlights

  • Hard Signalized Corner (Northgate Boulevard and Garden Highway)
  • Absolute NNN Leases (Tenants Reimburse for their Pro-Rata Share of Expenses)
  • Twelve-Tenants (Low Exposure Upon Lease Turnover)
  • Seller Rent Guarantee for Units A and B (Two-Year Guarantee)

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale a 16,265-square-foot multi-tenant retail shopping center on a 1.28-acre lot in Sacramento, California. The subject property, known as “Garden Plaza,” is 100-percent occupied (includes a two-year seller rent guarantee for suites A and B totaling 2,150 square feet). All the tenants, except for one suite, are on "Triple-Net (NNN)" leases. Originally constructed in 1985, the building consists of 13 total units occupied by a wide variety of tenant types. Garden Plaza is located on the signalized corner of Northgate Blvd and Garden Highway, roughly two miles south of Interstate-80, and less than two miles east of Interstate-5. Additionally, the property is located within a seven-minute drive of Downtown Sacramento. Sacramento is the state capitol of California and is a growing metropolitan region with the eighth largest world economy. It is the largest city in a six-county region, serving a population close to 500,000 in the city and nearly 2.5 million people in the region. Sacramento continues to be a highly desired choice to live for people seeking an affordable live-work-play lifestyle giving its proximity to the Bay Area, Napa Valley, and Lake Tahoe. As a result of the high exposure location, many local, regional, and national retailers have chosen to reside in this area. Some of the retailers in the immediate area include 99 Cents Only Store, Pizza Hut, Kiki’s Chicken, Shan Market, Metro by T-Mobile, California Check Cashing Store, and 7-Eleven. In addition to a plethora of retailers nearby, the population within a three-mile radius is 146,726, as well as the population within a five-mile radius being 354,876. (see included aerial photo). Consisting of 13-total suites, the property has historically held a high occupancy level. Furthermore, the leases have staggered lease expiration dates mitigating vacancy exposure upon lease rollover. Tenants within the center include Carnitas El Rincon Mexican Restaurant, Mile High Clothing, Stunning Esthetics Nail Salon, Gumbo King Restaurant, Zen Garden Dispensary, Conquer Printing, Stars Beauty Salon, Natomas Christian Center, Elevated 916 Smoke Shop, and Mega Success Insurance Services.

Exclusively Listed By

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