6617 Madison Ave, Carmichael, CA 95608-0646
- Office buildings
- 6,912 SF
- 0.73 lot acres
Current Use by Public Records
- Farmers Insurance / Insurance Agency
- AmeriTek Mortgage / Loan Service / Bank
- G&G Tax and Accounting Services / Accounting Firm / Tax Preparation
- Ganda Bae Lash Supplies / (Bike/Boat/Book/etc) Store / Cosmetic Store
- Ganda Bae Lash Studio / Hair Salon / Nail Salon
Property Details for 6617 Madison Ave
- Year built
- 1974
- Construction
- WOOD
- Lot size
- 0.73 lot acres
- Zone code
- BP
- Property type
- Office buildings
- APN
- 232-0300-040-0000
- APU
- 23203000400000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 10, 2016 | $600,000 | Tran Family Trust | Kelly Trust | Grant Deed | — |
| Feb 10, 2016 | — | Daniel D Kelly | Kelly,karen E | Affidavit Of Death · related | — |
| Apr 5, 2004 | $820,000 | Kelly,tr | Pisciotta,john P | Grant Deed | $476k · Placer Sierra Bank |
| Oct 9, 2003 | — | Allen,tr | Allen,glen & Marilyn A | Quit Claim Deed · related | — |
| Sep 25, 2001 | — | Kronick Trust | Kronick,russell | Quit Claim Deed · related | — |
| Jun 22, 1999 | — | Glen E Allen | Allen,glen E | Quit Claim Deed · related | — |
| May 3, 1999 | — | Di Capo Trust | Di Capo,carl J & Rose M | Quit Claim Deed · related | — |
Description
This exceptional 6,912 square foot, multi-tenant office building presents a compelling investment opportunity in Carmichael, CA. Located on Madison Avenue, this single-story, Class C property boasts 100% occupancy with eight tenants and a strong net operating income (NOI) of $60,828, yielding a 5.58% cap rate. Built in 1974, the building sits on a 0.73-acre lot (31,732 sq ft) and features ample parking with a 5.93:1,000 sq ft ratio. The property benefits from high visibility and excellent access to Highway 80, connecting to Folsom and North Highlands. Individual units are accessed directly from the parking lot or breezeways, and the property offers multiple locations for tenant signage. The property is zoned for Business Professional use and presents a stabilized investment with potential for owner-user occupancy as leases expire. The asking price is $1,090,000. This is a rare opportunity to acquire a multi-tenant office building under $1 million in a desirable location. The modified lease structure provides flexibility for future management.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,920,000
- 6.5%
- $1,775,000
- 7%
- $1,645,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,525,000
- AI Estimate
- $1,000,000
Market price range: $785k - $2.82MMarket price range: $415k - $1.82M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $1,845,000 Current use
- MEDICAL BUILDING
- $1,800,000 Change: -2% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,785,000 Change: -3% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $1,785,000 Change: -3% Conversion: Easy
- COMMERCIAL (GENERAL)
- $1,615,000 Change: -12% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Carmichael
- County
- Sacramento
- State
- California
- Longitude
- -121.31
- Latitude
- 38.6639
- CBSA code
- 40900
- CBSA name
- SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA
