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Shopping Strip

Auburn Town Center

350 Elm Ave, Auburn, CA 95603

Listing Price: $6,445,000

Cap Rate
6.92%
Gross SF
20,700
Rentable SF
20,700
Price/Gross SF
$311.35
Lot Size
1.52 acres
Year Built
1982

Investment Overview

The subject property is a 20,700-square foot multi-tenant retail strip center situated on a 1.50-acre parcel (offering includes a separate 0.08-acre parcel) in Auburn, California. More specifically, the property is part of a 146,300-square foot regional shopping center referred to as the “Auburn Town Center.” “The Auburn Town Center” is located at a high-profile location with immediate access to both Interstate 80 and Highway 49. Constructed in 1982, the property is currently 90-percent occupied by ten tenants with a long-term history of tenancy. There are currently two adjacent vacant suites ranging from 900 to 1,200-square feet. Tenants within the “Auburn Town Center” benefit from its high-profile location. Located adjacent to the Interstate 80 on/off ramp and the Elm Avenue and Highway 49 intersection, the property is supported by an abundance of commercial properties, single-family, and multi-family residences, along with strong traffic counts. The population within a three-mile radius is 26,449 and the five-mile radius population is 43,625. As a result, multiple local, regional, and national retailers have chosen to be tenants within the “Auburn Town Center.” Retailers in the center include Save Mart Supermarket, CVS Pharmacy, Starbucks, Wells Fargo Bank, Round Table Pizza, McCaulou’s Department Store, Togo’s Sandwiches, First Northern Bank, Verizon Wireless, etc. (see included aerial photo). The city of Auburn is considered one of the best places to live in Northern California. Auburn, located 30-miles east of Downtown Sacramento, continues to be a choice for the growing population of people seeking an affordable live-work-play lifestyle giving its proximity to the Bay Area, Napa Valley, and Lake Tahoe. The city is situated between Sacramento and Lake Tahoe, at the crossroads of Interstate 80 and historic Highway 49 in the heart of the Gold Country. Round Table Pizza is the largest tenant in the offering, occupying 25.5 percent or 5,250 square feet. Round Table’s lease commenced in 1995 and they recently upgraded their suite to include their “Clubhouse” concept. Sierra Optometry occupies 2,100-square foot or 10.1 percent of the property and have been a tenant since 1996. Happy Wok Restaurant also occupies 2,100-square feet or 10.1 percent of the property and have been a tenant since 2008. Cigarettes For Less has been a tenant since 1995 and occupies 900-square feet or 4.3 percent of the property. Combined, these four tenants occupy 50 percent of the property and have an extremely strong history of long-term tenancy. The remaining tenants include Contractor's Showroom occupying 2,100-square feet, Lucky Nails occupying 1,500-square feet, Hair Central occupying 900-square feet, Nancy’s Café occupying 1,500-square feet, Sun Spa occupying 1,200-square feet, and Big J's CBD occupying 1,050-square feet. The remaining two suites are currently vacant and have rental rates included in the proforma at or below the rental rates for the current tenants in the center.

Investment Highlights

  • Upside Upon Lease-Up (90-Percent Occupied/Two Vacancies)
  • Part of 146,300-Square Foot Shopping Center (Auburn Town Center)
  • Location, Location, Location (Immediate Interstate 80 and Highway 49 Access)

Exclusively Listed By

Shopping Strip

Auburn Town Center

Listing Price: $6,445,000

Cap Rate
6.92%
Gross SF
20,700
Rentable SF
20,700
Price/Gross SF
$311.35
Lot Size
1.52 acres
Year Built
1982

Investment Highlights

  • Upside Upon Lease-Up (90-Percent Occupied/Two Vacancies)
  • Part of 146,300-Square Foot Shopping Center (Auburn Town Center)
  • Location, Location, Location (Immediate Interstate 80 and Highway 49 Access)

Investment Overview

The subject property is a 20,700-square foot multi-tenant retail strip center situated on a 1.50-acre parcel (offering includes a separate 0.08-acre parcel) in Auburn, California. More specifically, the property is part of a 146,300-square foot regional shopping center referred to as the “Auburn Town Center.” “The Auburn Town Center” is located at a high-profile location with immediate access to both Interstate 80 and Highway 49. Constructed in 1982, the property is currently 90-percent occupied by ten tenants with a long-term history of tenancy. There are currently two adjacent vacant suites ranging from 900 to 1,200-square feet. Tenants within the “Auburn Town Center” benefit from its high-profile location. Located adjacent to the Interstate 80 on/off ramp and the Elm Avenue and Highway 49 intersection, the property is supported by an abundance of commercial properties, single-family, and multi-family residences, along with strong traffic counts. The population within a three-mile radius is 26,449 and the five-mile radius population is 43,625. As a result, multiple local, regional, and national retailers have chosen to be tenants within the “Auburn Town Center.” Retailers in the center include Save Mart Supermarket, CVS Pharmacy, Starbucks, Wells Fargo Bank, Round Table Pizza, McCaulou’s Department Store, Togo’s Sandwiches, First Northern Bank, Verizon Wireless, etc. (see included aerial photo). The city of Auburn is considered one of the best places to live in Northern California. Auburn, located 30-miles east of Downtown Sacramento, continues to be a choice for the growing population of people seeking an affordable live-work-play lifestyle giving its proximity to the Bay Area, Napa Valley, and Lake Tahoe. The city is situated between Sacramento and Lake Tahoe, at the crossroads of Interstate 80 and historic Highway 49 in the heart of the Gold Country. Round Table Pizza is the largest tenant in the offering, occupying 25.5 percent or 5,250 square feet. Round Table’s lease commenced in 1995 and they recently upgraded their suite to include their “Clubhouse” concept. Sierra Optometry occupies 2,100-square foot or 10.1 percent of the property and have been a tenant since 1996. Happy Wok Restaurant also occupies 2,100-square feet or 10.1 percent of the property and have been a tenant since 2008. Cigarettes For Less has been a tenant since 1995 and occupies 900-square feet or 4.3 percent of the property. Combined, these four tenants occupy 50 percent of the property and have an extremely strong history of long-term tenancy. The remaining tenants include Contractor's Showroom occupying 2,100-square feet, Lucky Nails occupying 1,500-square feet, Hair Central occupying 900-square feet, Nancy’s Café occupying 1,500-square feet, Sun Spa occupying 1,200-square feet, and Big J's CBD occupying 1,050-square feet. The remaining two suites are currently vacant and have rental rates included in the proforma at or below the rental rates for the current tenants in the center.

Exclusively Listed By

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