1063 C St Galt, CA 95632-1700

Property Details for 1063 C St

Year built

1991

Construction

TILT-UP CONCRETE

Lot size

2.89 lot acres

Property size

32,196 SF

Zone code

C

Property type

Individual retail properties

APN

150-0530-005-0000

APU

15005300050000

Description

This exceptional investment opportunity presents a 31,456-square-foot freestanding CVS Pharmacy in Galt, California. Situated on a 2.89-acre lot within the Galt Plaza shopping center, this property boasts an absolute NNN lease with CVS Pharmacy, expiring May 30, 2030, offering over six years of remaining lease term. The lease includes three five-year renewal options with a 5% rent increase in the first and third options. The current annual rent is $10.35 per square foot, significantly below replacement cost. This established location, operating since 1999, includes liquor sales, contributing to strong revenue streams. The property benefits from a high-traffic location adjacent to Highway 99's on/off ramps, experiencing 78,000 vehicles per day. Galt Plaza features a diverse mix of national and local tenants, including Save Mart, Ace Hardware, Taco Bell, and Subway, ensuring high foot traffic. The surrounding area showcases excellent demographics, with an average household income exceeding $115,600 and a population of over 30,000 within a three-mile radius. The property's strategic location, strong tenant, and favorable lease terms make this a compelling investment opportunity with a 7.00% cap rate and a net operating income (NOI) of $325,695. The asking price is $4,653,000, representing a price per square foot of $147.92. Built in 1991, this property offers a stable and lucrative investment prospect in a thriving California market. The property is conveniently located 13 miles south of Elk Grove and 28 miles south of Downtown Sacramento.

Location Insight

City

Galt

County

Sacramento

State

California

Longitude

-121.297

Latitude

38.2541

CBSA code

40900

CBSA name

SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments