5404 Laurel Hills Dr Sacramento, CA 95841

Property Details for 5404 Laurel Hills Dr

Year built

1990

Lot size

0.73 lot acres

Property size

5,904 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a Class A, 5,904 square foot medical office building in Sacramento, CA, fully occupied by NVISION Eye Center under a gross lease. The property, located at 5404 Laurel Hills Dr, boasts a strong 6.8% cap rate and a substantial net operating income of $108,821. The building, constructed in 1990 and situated on a 0.73-acre lot, benefits from a long-term lease with NVISION, extending until October 31, 2029, with built-in 3.0% annual rent bumps. The lease includes options to renew, providing significant long-term stability. The asking price is $1,600,000, representing a price per square foot of $271. The property's single-tenant occupancy ensures minimal management overhead, while the corporate guarantee provides added security. This stabilized investment offers a compelling opportunity for investors seeking a secure, high-performing asset in a desirable Sacramento location. The property's strong tenant, favorable lease terms, and attractive financial metrics make it an ideal addition to any portfolio. The building's location is convenient, near the intersection of Madison & Garfield Avenue. The property's Assessed Parcel Number (APN) is 230-0053-034. The current rental rate is $2.28 per square foot per month, full service gross, as of November 1, 2023.