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2460 Watt Avenue - Country Club Plaza - US Bank, Sacramento, CA

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2460 Watt Avenue - Country Club Plaza - US Bank

Sacramento, CA 95825 - Arden/Watt/Howe Ret Submarket

Property Type:Retail Sub Type:Bank Status:Existing Year Built:1960
Building Size:8,070 SF Land Area:.58 AC (25,265 SF)
For Sale Price:$5,500,000 Price/SF:$681.54
Cap Rate:5.00 %
Parking:Free Surface spaces are available; Ratio of 8.89/1,000 SF
Features:Bus Line, Pylon Sign, Signage, Signalized Intersection, Drive Thru

Sale Notes:
The subject property is located at the hard corner of one of the busiest intersections in Sacramento, CA. Built in 1982, the subject property is an approximate 8,070-square-foot two-story building on +/- .5876 acres of land. The first floor is utilized as a bank branch and the second floor is used for administrative offices. The tenant has occupied the property since 1991. The previous ten year triple-net (NNN) lease commenced in January 2007 and was recast for 11 years and 3 months in July 2015 as an absolute triple-net lease with tenant taking on ALL responsibilities of the property. There are ten percent rental increases every five years and two, five year renewal options at fair market rent.

The bank is an outparcel to Country Club Plaza Mall, a 315,588 square-foot mall that included WinCo Foods (opening this summer), Cinema West Movie Theater, Planet Fitness (coming fall 2016) and many others. There are 354,000+ residents and 140,800+ households within a five mile radius of the property. The average household income is $71,625 within a 3-mile radius.

Marcus & Millichap Inc
Jamie Medress
(602) 687-6778

Mark Ruble
(602) 687-6766 x6766

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