Anchored Shopping Center For
7301 Greenback Ln, Citrus Heights, CA 95621
Grocery-anchored shopping center in Citrus Heights, California.
Type:Retail
Property size:
132,937 SFLot size:
15.58 AcresPrice / SF:
$170/SF- Added:
- Jul 8, 2024
- Days on Market:
- 697
- Last Refresh:
- May 13 at 8:21 pm
Property Features for 7301 Greenback Ln
General Information
- Standard status
- Active
- Size
- 132,937 SF
- Lot size
- 15.58 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1977
Listing agent Quentin Caruso License #02074286
Listing office Marcus & Millichap - San Francisco
Listing date Jul 8, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - San Francisco
HighLights
- Grocery‑anchored by Safeway since 1983, recently extended through 2029.
- Located at a high‑traffic intersection (46,000 VPD) in Citrus Heights, CA with a strong trade area population.
- Diverse tenant mix including Safeway, Dollar Tree, and Togos/Baskin Robbins provides a stable income stream.
- Opportunity for value‑add through conversion of smaller shop suites to NNN leases and increasing rents.
- Attractive leveraged and unleveraged cash flow in a seasoned retail center.
- Located in a barriers‑to‑entry submarket with sustainable or below‑market rents.
Overview
San Juan Plaza shopping center features a mix of national and regional tenants. This twenty-four-unit shopping center is leased to tenants including Safeway, Dollar Tree, Eco Thrift, Togos/Baskin Robbins, and La Vie Nail Salon. Safeway, a tenant since 1983, exercised a five-year option to extend their lease through 2029 and self-funded a tenant improvement project, converting a portion of the space to a regional distribution center. The franchisee operator of the Togos/Baskin Robbins pays percentage rent above its base rent level due to attractive sales volumes. The shopping center is located in Citrus Heights, near Sacramento. The 2022 population in the three-mile trade area was over 158,000, expected to grow by more than 1.25% by 2027. As of 2022, the median household income in a three-mile radius was $69,254. Situated at the intersection of Greenback Lane and San Juan Avenue, the location benefits from nearly 46,000 vehicles per day as of 2022. Ingress/egress is facilitated by multiple double-wide curb cuts from Greenback Lane and San Juan Avenue, including dedicated left turn lanes. A monument sign on Greenback Lane enhances visibility. Adjacent retailers include Sam’s Club, Burlington Coat Factory, Kohl’s, Ross, Lowe’s, Best Buy, and Walmart. The shopping center comprises approximately 162,769 square feet of leasable building area on a 15.58-acre parcel (676,922 square feet). Improvements feature conventional construction with glu-lam beam/wood frame structural elements over a concrete-slab foundation, stucco exterior walls, and a flat, built-up roof. Roof-mounted gas-fired, heat-pump units provide heating and air conditioning. The property offers a stable, cash-flowing retail center with sustainable or below-market rents.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.62M | $19.68 |
| − Vacancy | −$143.9k | −$1.08 |
| EGI | $2.47M | $18.60 |
| − OpEx | −$741.7k | −$5.58 |
| NOI | $1.73M | $13.02 |
132,937 SF · lease $19.68/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$24.72M
$21.63M – $28.84M
NOI $1,730,616 @ 7.0% cap · market cap 7.64%
Second Best
Specialty Retail
$24.16M
$21.14M – $28.19M
NOI $1,691,421 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$35.41M
$30.99M – $41.32M
NOI $2,479,047 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Gary P. Hamilton, ...
Pharmacy
Baskin-Robbins
Grocery & Convenience Store
La Vie Nail ...
Nail Salon
Renew
Parking Lot & Garage
Safeway
Grocery & Convenience Store
Similar Places Nearby
- Greenback Plaza — Greenback Ln, Citrus Heights, CA 95610
- Coinstar Kiosk | Bitcoin ATM — Safeway, 7301 Greenback Ln, Citrus Heights, CA 95621
Location Insight
- Map
- Local Demand
- City
- Citrus Heights
- County
- Sacramento
- State
- California
- Longitude
- -121.293612
- Latitude
- 38.679649
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Grocery-anchored shopping center in Citrus Heights, California.
Where is this shopping center located?
The property is located at 7301 Greenback Ln Citrus Heights, CA.
What is the asking price?
The asking price for this property is $22,650,000.
What are key features of this property?
This property features: Grocery‑anchored by Safeway since 1983, recently extended through 2029.; Located at a high‑traffic intersection (46,000 VPD) in Citrus Heights, CA with a strong trade area population.; Diverse tenant mix including Safeway, Dollar Tree, and Togos/Baskin Robbins provides a stable income stream.
