Vacant-User

RESTAURANT/RETAIL - OLD SACRAMENTO

1019 2nd St, Sacramento, CA 95814

Listing Price: $2,500,000

Cap Rate
3.82%
Gross SF
10,640
Rentable SF
10,640
Price/Gross SF
$234.96
Lot Size
0.10 acres
Year Built
1900

Investment Overview

Marcus & Millichap is proud to list exclusively this retail restaurant user opportunity of a multi-tenant building in the heart of Old Sacramento. This three-story building has been seismically retrofitted with an estimated total of 10,640 rentable square feet with common areas totaling a building size of about 11,380 square feet on a lot size of about 4,263 square feet. There are three precious off-street parking spaces plus a large parking garage directly next to the property.

The retail restaurant user may benefit with a positive cash flow after collecting rents from two solid tenants from the top and bottom floors and Unit 1017.

The total user space would potentially be the existing pizza restaurant of about 1,560 square feet to include all furniture, fixtures & equipment (FFE) plus an ABC alcohol license to serve beer & wine combined with the unit next door. There is also extra storage space of about 1,000 square feet at the bottom floor to occupy.

River City Tattoo is the first tattoo studio in Old Sacramento established in 2001. They currently occupy the entire top floor on a long-term lease to expire in 2029 with two, five-year options to renew. Major tenant improvements have been completed including a brand new HVAC system upon the start of their lease.

At the bottom floor is Capitol Ink who has been a notable long-term tenant since 2006. They have recently executed their five-year option to renew the lease. Their lease is to expire at the end of 2024 with another five-year option remaining.

Next to the pizza restaurant on the main floor is a new tenant that will take over the Sweet Turtles space.

The National Park Service named this entire original historic 1850s business district into a National Historic Landmark in 1965. With over 50 historic buildings, Old Sacramento has more buildings of historic value than any area of similar size in the West among its 296 acres. This unique 28-acre National Historic Landmark District and State Historic Park is located along the beautiful Sacramento River with dozens of retailers, eateries, coffee shops and art hubs. Bustling with activity, the district is alive with well-maintained historic architecture and world-renowned museums set within the time frame of the California Gold Rush and the Transcontinental Railroad.

Investment Highlights

  • Restaurant User Opportunity on the Main Floor with High Foot Traffic Count
  • Long-Term Tenants Bringing Solid Income at Top and Bottom Floors
  • Owner User Opportunity with Reduced Total Debt Service from Solid Tenants
  • Prime Retail Location Adjacent to the Waterfront in a National Historic Park
  • Off-Street Parking plus a Large Parking Garage Directly Next to the Property

Exclusively Listed By

Financing By

Vacant-User

RESTAURANT/RETAIL - OLD SACRAMENTO

Listing Price: $2,500,000

Cap Rate
3.82%
Gross SF
10,640
Rentable SF
10,640
Price/Gross SF
$234.96
Lot Size
0.10 acres
Year Built
1900

Investment Highlights

  • Restaurant User Opportunity on the Main Floor with High Foot Traffic Count
  • Long-Term Tenants Bringing Solid Income at Top and Bottom Floors
  • Owner User Opportunity with Reduced Total Debt Service from Solid Tenants
  • Prime Retail Location Adjacent to the Waterfront in a National Historic Park
  • Off-Street Parking plus a Large Parking Garage Directly Next to the Property

Investment Overview

Marcus & Millichap is proud to list exclusively this retail restaurant user opportunity of a multi-tenant building in the heart of Old Sacramento. This three-story building has been seismically retrofitted with an estimated total of 10,640 rentable square feet with common areas totaling a building size of about 11,380 square feet on a lot size of about 4,263 square feet. There are three precious off-street parking spaces plus a large parking garage directly next to the property.

The retail restaurant user may benefit with a positive cash flow after collecting rents from two solid tenants from the top and bottom floors and Unit 1017.

The total user space would potentially be the existing pizza restaurant of about 1,560 square feet to include all furniture, fixtures & equipment (FFE) plus an ABC alcohol license to serve beer & wine combined with the unit next door. There is also extra storage space of about 1,000 square feet at the bottom floor to occupy.

River City Tattoo is the first tattoo studio in Old Sacramento established in 2001. They currently occupy the entire top floor on a long-term lease to expire in 2029 with two, five-year options to renew. Major tenant improvements have been completed including a brand new HVAC system upon the start of their lease.

At the bottom floor is Capitol Ink who has been a notable long-term tenant since 2006. They have recently executed their five-year option to renew the lease. Their lease is to expire at the end of 2024 with another five-year option remaining.

Next to the pizza restaurant on the main floor is a new tenant that will take over the Sweet Turtles space.

The National Park Service named this entire original historic 1850s business district into a National Historic Landmark in 1965. With over 50 historic buildings, Old Sacramento has more buildings of historic value than any area of similar size in the West among its 296 acres. This unique 28-acre National Historic Landmark District and State Historic Park is located along the beautiful Sacramento River with dozens of retailers, eateries, coffee shops and art hubs. Bustling with activity, the district is alive with well-maintained historic architecture and world-renowned museums set within the time frame of the California Gold Rush and the Transcontinental Railroad.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower