4949 Marconi Ave Carmichael, CA 95608

The Marconi & Walnut Shopping Center features an approximately 92,680-square-foot multi-tenant neighborhood retail center in Carmichael, California. This offering consists of two multi-tenant retail strip buildings totaling 17,880 square feet within the greater shopping center. Constructed in 1984 and situated on approximately 8.66 acres, the shopping center has demonstrated historically strong and stable occupancy. The property is strategically positioned on the signalized hard corner of Marconi Avenue and Walnut Avenue, benefiting from combined traffic counts exceeding 33,500 vehicles per day. The center is currently 87.36% occupied by ten diversified, service-oriented tenants with established brick-and-mortar operations. The tenant mix is predominantly structured under triple-net (NNN) leases, providing expense recovery benefits to ownership, with the exception of two tenants which operate under gross leases. The rent roll includes four month-to-month tenants and two vacant suites, offering near-term leasing and repositioning opportunities. Additionally, several tenants are paying below-market rental rates, and current ownership is not recovering 100% of common area maintenance (CAM) expenses as outlined in the lease agreements, presenting a clear path to increasing net operating income. The property benefits from co-tenancy with several national and regional retailers within the center, including Grocery Outlet, Dollar Tree, CVS Pharmacy, and a Chevron service station. The asset is further supported by a dense and established residential trade area comprised of both single-family homes and multifamily communities. This offering represents a compelling value-add investment opportunity, priced at approximately $111.86 per square foot.