2621 Alta Arden Expy Sacramento, CA 95825-1306
- Retail space
- 13,600 SF
- 1.43 lot acres
Apr 01, 2022
Current Use by Public Records
- Zinat Carpets and Clothing قالین فروشی زینت و پوشاک زینت / Market
Property Details for 2621 Alta Arden Expy
- Year built
- 1978
- Construction
- WOOD
- Lot size
- 1.43 lot acres
- Property size
- 13,600 SF
- Zone code
- SPA
- Property type
- Retail space
- APN
- 279-0140-063-0000
- APU
- 27901400630000
Description
Alta Arden Center, located in Sacramento, California, presents a compelling value-add opportunity in the thriving Arden-Arcade retail market. This two-building shopping center, totaling approximately 34,685 square feet, sits on a 2.26-acre lot at the northeast corner of Alta Arden Expressway and Fulton Avenue, boasting high daily traffic counts. The property features a mix of five tenants, including Easter Seals, Zinat Carpets & Clothing, Aryan Snooker & Billiards, Liaison Lounge, and Kaylo's BBQ, with current occupancy at 75%. Building one comprises roughly 14,005 square feet, while building two, a multi-story structure, offers approximately 20,680 square feet. The property includes 98 parking spaces and benefits from its proximity to a large Federal building and Kaiser Permanente, ensuring significant daytime foot traffic. Currently priced at $3,710,000 ($106.96 per square foot), the property offers a 7.25% current cap rate and a projected 9.08% pro-forma cap rate upon reaching 89% occupancy. Built in 1978, the property is zoned Fulton Av SPA/CMY-C Overlay and offers lease options. This investment presents a strong opportunity for increased returns through lease-up of vacant spaces. The property's location within a robust retail area, alongside established national tenants, further enhances its potential for growth and profitability. The property consists of two buildings, each two stories high. The asking price is $3,710,000, with a current NOI of $268,850 and a pro-forma NOI of $336,849.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,485,000
- ML approach
- $2,570,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,515,000
- 6.5%
- $3,245,000
- 7%
- $3,015,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,391,000
Market price range: $1.96M - $6.01M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $4,075,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $4,060,000 Change: -0% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $3,480,000 Change: -15% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Sacramento
- County
- Sacramento
- State
- California
- Longitude
- -121.4
- Latitude
- 38.6003
- CBSA code
- 40900
- CBSA name
- SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA
