8511-8591 Elk Grove Blvd Elk Grove, CA 95624
- Retail properties
- 30,979 SF
- 2.21 lot acres
Current Use by Public Records
- Retail properties
Property Details for 8511-8591 Elk Grove Blvd
- Year built
- 1984
- Lot size
- 2.21 lot acres
- Property size
- 30,979 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fully leased, 30,979 square foot neighborhood retail center in Elk Grove, CA, a high-growth community with an average household income nearing $142,000. Located at 8511-8591 Elk Grove Blvd, this property boasts a prime location on Elk Grove Boulevard, adjacent to Highway 99, benefiting from high daily traffic counts (109,500 vehicles on Highway 99 and 27,000 on Elk Grove Boulevard). The center comprises three single-story buildings constructed between 1984 and 1988, situated on a 2.21-acre lot with ample parking (439 spaces). Currently operating at 100% occupancy with 17 tenants, including a mix of national and regional brands such as Arby's, Macque's BBQ, and Papa Murphy's Pizza, the property generates a substantial NOI of $891,138, representing a 7.75% cap rate. The asking price is $11,500,000 ($371.22 per square foot). All leases are triple-net (NNN), except for one ATM, and are structured to minimize short-term rollover risk. The property is zoned SC (shopping center) and features a synergistic tenant mix offering food, services, and products. Strong shadow anchors include CVS Pharmacy, KFC, SpeeDee Oil Change, and a Shell station further enhance the center's appeal. This offering includes all inline shops, representing the highest rent-per-square-foot tenants within the larger Elk Grove Village center (totaling 106,698 square feet). The property's common area maintenance (CAM) charges are pro-rata reimbursed by owners of parcels not included in this offering. Management authority is vested in the owner of the included parcel 125-0390-010, as per the CC&Rs. This presents a compelling opportunity for investors seeking a stable, high-performing retail asset in a thriving market. APN: 125-0390-008, -010, -020, -021.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Elk Grove
- County
- Sacramento
- State
- California
- Longitude
- -121.388
- Latitude
- 38.4096
