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1200 R Street, Sacramento, CA

1200 R Street

CA, USA

Price $12,200,000
Cap Rate
NOI
Lease Term Various
Lease Type NNN, Requiring Minimal Landlord Management
Rental Increases Various
Year Built 2015
Building Size 26,562 SF
Lot Size 0.95 Acres (41,704 SF) (2 Legal Parcels; Future Development Opportunity)
Status Sold
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Kevin Partington
Executive Director
915.288.4807
kevin.partington@cushwake.com
CA RE License #01199010

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

100% LEASED MULTI-TENANT PROPERTY
» 100% leased multi-tenant property with scheduled rental increases, providing a hedge against inflation
» Long-term leases to notable tenants with strong financials
» Rare NNN leases, requiring minimal Landlord management
» Exceptional quality construction, with new roof (initial 20-year warranty)
» Investment includes two separate parcels, providing long-term flexibility with potential development opportunities
» Rare on-site parking (56 stalls), creating additional revenue with rental increases as well as a competitive advantage within the market
» Substantially below market rents, providing long-term NOI growth

CENTRAL LOCATION IN POPULAR R STREET CORRIDOR
» Excellent location in the R Street Corridor, one of Sacramento’s trendiest neighborhoods adjacent to the Ice Blocks
» Directly next to the Warehouse Artist Lofts (WAL), a 116-unit mixed-income community for artists, which anchors the R Street Corridor
» Nearby tenants include trendy restaurants, bars, and entertainment venues
» Near new developments, including several new apartment communities, a farm-tofork neighborhood market, and the Ice Blocks, a mixed-use development—60k SF retail, 50K SF office, and 150 high-density urban residential units, Market 5-One-5 (new urban Raley’s Supermarket)

DOWNTOWN LOCATION WITH ROBUST DEMOGRAPHICS
» Located within the Downtown Sacramento core and within walking distance to the California State Capitol, DOCO, and the newly constructed Golden 1 Center, home of the NBA’s Sacramento Kings
» Convenient access to three of the region’s largest freeways: Interstate 5 (193,400 AADT), Highway 50 (260,000 AADT), and Highway 99 (231,700 AADT)
» Robust demographics, with 344,037 residents living and 285,919 daytime employees working within a five-mile radius


Property Description

SOLD

The property is strategically located on R Street, in the center of Sacramento’s R Street Corridor. A former rail-based industrial activity hub, the R Street Corridor has transitioned into a vibrant destination for Sacramento artists, retailers, and restauranteurs. The district is emerging as one of the city’s trendiest, drawing a predominantly young crowd to the restaurants, coffee shops, bars, and salons that are transforming the R Street Corridor into a transit-oriented, mixed-use development district with an arts-and-culture focus. The property is directly next to the Warehouse Artist Lofts, also known as WAL, a 116-unit mixed-income community for artists, located in a renovated historic warehouse. Other notable tenants in the area include trendy restaurants, bars, and entertainment venues, including long-standing Sacramento staples like Fox and Goose, Ace of Spades, and Old Ironsides. The property is near R Street Market, anchored by Safeway, the only full-service grocery store in the central city. The property is also close to a number of development projects, including several new apartment communities, a farm-to-fork neighborhood market, and the Ice Blocks, a mixed-use development featuring retail, residential, and office space.

The property is centrally located less than a mile from downtown Sacramento, the California State Capitol, and the newly constructed Golden 1 Center, home of the NBA’s Sacramento Kings. The property is also close to three of the region’s largest freeways—Interstate 5 (193,400 AADT), Highway 50 (260,000 AADT), and Highway 99 (231,700 AADT)—as well as major community amenities, like the 627-bed UC Davis Medical Center, and notable schools, including California State University Sacramento (30,670 students) and Sacramento City College (23,680 students). Additionally, the property is located in a densely populated area near major employment centers; in total, 344,037 residents live and 285,919 daytime employees work within a five-mile radius of the property.

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