Description
721 9th Street is a single tenant leased investment in the Heart of Downtown Sacramento. The Property is 100% leased to the County of Sacramento through April 30, 2029. The Property is being offered at $4,795,000 ($339 PSF) which results in a year-one capitalization rate of 6.63%. However, through May 2024, the tenant also pays a tenant improvement reimbursement equal to $2,731 per month, which until that date, increases the realized capitalization rate to 7.31% in the first year. As is custom with agency leases, the Tenant has an on-going right to terminate the lease starting in May 2024, the risk of which has been factored into the acquisition capitalization rate. The Property measures 14,130 RSF across three equal floors, each serviced by a common elevator and individual restroom cores. The Property is located directly across from the Gordon D. Schaber County Courthouse and walking distance to the State Capitol, Federal
-
0BEDS
-
0.12ACRES
-
0BATHS
-
01/2 BATHS
-
14,130SQFT
-
$339$/SQFT
School Ratings & Info
Description
721 9th Street is a single tenant leased investment in the Heart of Downtown Sacramento. The Property is 100% leased to the County of Sacramento through April 30, 2029. The Property is being offered at $4,795,000 ($339 PSF) which results in a year-one capitalization rate of 6.63%. However, through May 2024, the tenant also pays a tenant improvement reimbursement equal to $2,731 per month, which until that date, increases the realized capitalization rate to 7.31% in the first year. As is custom with agency leases, the Tenant has an on-going right to terminate the lease starting in May 2024, the risk of which has been factored into the acquisition capitalization rate. The Property measures 14,130 RSF across three equal floors, each serviced by a common elevator and individual restroom cores. The Property is located directly across from the Gordon D. Schaber County Courthouse and walking distance to the State Capitol, Federal
© 2022 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2022-05-19T19:39:49.26. MetroList® MLS Terms of Use. IDX provided by BoomTown.