1825 I Street

Midtown

1825 I Street

Region: Midtown
Use: Retail
Lot Size: .15 acres
Lease or Sale: Sale
Building Size: ±3,600 SF
Sale Price: $1,980,000

Contact Jon Lang for brochure.
Turton Commercial Real Estate is pleased to present the opportunity to purchase 1825-1827 I Street, a triple net leased investment located in the heart of Midtown, Sacramento. The Property is currently occupied by two long-term tenants, each occupying half of the 3,600 SF retail building and parking lot. The Mill Coffee Roasters & Tea Studio has occupied the building since 2012 and recently extended its lease through December 2029. At Ease Brewing Company, a local microbrewery, has occupied the building since 2017 and has approximately 15 months remaining on its initial term. At Ease has two, five-year options to extend its lease and is likely to exercise the first option given its track record and financial investment into the building.
The average rent among both tenants is $2.35 triple net plus an average rent of $480 per month to lease the rear parking
lot for outdoor patio space. The current net operating income is $113,011.00 with both tenants paying their pro-rata share of operating expenses (including property tax increases) in addition to the base rent. The Property is being offered for $1,980,000 which equates to a 5.71% capitalization rate in the first year. Provided that At Ease exercises its first renewal option, the average annual return over the next 6 years is approximately 6.14%.

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