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    7301 Greenback Ln Citrus Heights, CA 95621

    Sponsored
    For Sale
    $28,125,000

    Citrus Heights retail investment opportunity

    Property size:
    162,769 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 162,769 square foot, grocery-anchored shopping center in Citrus Heights, CA, presents a compelling value-add opportunity. Boasting 24 tenants, including Safeway and Dollar Tree, the property sits on a 15.58-acre lot and features two single-story buildings constructed in 1977. Currently operating at 80.27% occupancy, the center generates a strong NOI of $1,777,025, with a pro-forma NOI projected at $2,080,464, reflecting a 6.32% cap rate and a pro-forma cap rate of 7.40%. The asking price is $28,125,000 ($172.79/sq ft). Significant upside potential exists through rent bumps and lease modifications, particularly with the eighteen smaller suites currently on short-term or month-to-month modified gross leases. The property benefits from a prime location at the intersection of two major thoroughfares in Citrus Heights, with high daily traffic counts and excellent visibility. The Safeway anchor tenant recently extended their lease through 2029 and completed substantial tenant improvements, demonstrating long-term commitment. The center's strong tenant mix, including national and regional brands, provides a stable income stream and significant potential for future growth. The property's conventional construction features stucco exterior walls, a flat built-up roof, and roof-mounted HVAC units. Ample on-site parking is available for shoppers and tenants. This investment offers a rare chance to acquire a well-positioned, cash-flowing retail center in a high-growth area with substantial value-add potential.

    Property Features for 7301 Greenback Ln

    General Information

    Property type
    Lifestyle centers
    Square Feet
    162,769 SF
    Lot Size
    678,665 SF

    Building Details

    Year Built
    1977
    Buildings
    2
    Stories
    1
    Units
    24

    HighLights

    • $28,125,000 asking price for a value‑add neighborhood shopping center.
    • 162,769 square feet, 24‑unit retail property with a Safeway and Dollar Tree anchor tenants.
    • 6.32% cap rate, 7.40% pro‑forma cap rate, $1,777,025 NOI, $2,080,464 pro‑forma NOI.
    • 80.27% occupancy.
    • Located at 7301 Greenback Ln, Citrus Heights, CA 95621, on a 15.58‑acre lot.
    • Built in 1977, two buildings, one story.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gary P. Hamilton, ... Pharmacy Baskin-Robbins Ice Cream Shop La Vie Nail ... Nail Salon Renew Parking Garage Safeway Grocery Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Citrus Heights
    County
    Sacramento
    State
    California
    Longitude
    -121.29379713949
    Latitude
    38.679581585877

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    FAQs

    What type of property is this?
    Lifestyle center - Citrus Heights retail investment opportunity
    Where is this lifestyle 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 $28,125,000.
    What are key features of this property?
    This property features: $28,125,000 asking price for a value-add neighborhood shopping center.; 162,769 square feet, 24-unit retail property with a Safeway and Dollar Tree anchor tenants.; 6.32% cap rate, 7.40% pro-forma cap rate, $1,777,025 NOI, $2,080,464 pro-forma NOI.
    Request Owner's contact information
    7301 Greenback Ln Citrus Heights, CA 95621
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    Citrus Heights, CA 95621
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7301 Greenback Ln Citrus Heights, CA 95621
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