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5777 Madison Avenue - Harvard Business Park, Sacramento, CA
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5777 Madison Avenue - Harvard Business Park
Sacramento, CA 95841-3315 - Carmichael/Fair Oaks Submarket
Total Space Avail:
$11.88 - $15.48
Free Surface spaces are available; Free Covered spaces; Ratio of 5/1,000 SF
Bus Line, Signage
564 SF-5,303 SF
2,500 SF-40,290 SF
564 SF-5,303 SF
2,500 SF-40,290 SF
Prime Location: N.E. Sacramento in Citrus Heights and Carmichael.
· Easy Freeway I-80 and Local Access.
· High Visibility and Superb Image: direct Madison Ave exposure.
· Large Facade Sign space for Tenant Advertisement.
· 12 Beautiful Garden style Office Buildings.
· Affordable Rent: 99 cents/sf/month Modified Gross, CAM is included.
· Plenty of Parking.
· For Attorney, CPA, Medical, Dental, Engineering, Services, Sales, Call Centers.
· Convenience: Restaurants and Shops next door.
· Sizes: from 555 sf to 27,250 sf.
Starting Bid $1,200,000
Participation Deposit $10,000
Description for 5777 Madison Ave., Sacramento, CA 95841
***Property tours are available 10/20/16 & 10/27/16 from 9am-11:30am. Please reach out directly to Michael Stassi to coordinate***
• The Property is located in the Sacramento County Cluster office market and the Carmichael/Fair Oaks Area Submarket market.
• Value-add opportunity
• Market asking rents ranged from $21.75 to $22.50 per sq. ft. in 2Q 2016, which have increased from the previous quarter and the same period one year earlier.
The opportunity is a 64,085 sq. ft. office building located at 5777 Madison Avenue, Sacramento, California (the "Property"). Constructed in 1976, the improvements are comprised of six, one-story office buildings currently divided into 65 units/suites. The Property is currently 22.1% leased to a variety of tenants on a month-to-month basis. Situated on a 5.61 acre parcel, the Property offers excellent visibility and frontage on Madison Avenue and is easily accessible from Interstate 80. Daily traffic counts for Madison Avenue exceed 57,000 vehicles per day.
The Property benefits from its location less than five miles east of Interstate 80, which is a major east-west thoroughfare connecting several major cities throughout the state of California and provides a cross country route to New York. Surrounding land uses include residential properties, office buildings, restaurants, and retail centers. Businesses located within a two mile vicinity of the Property include The Home Depot, Walmart Neighborhood Market, MTI College, Verizon, FedEx Office Print & Ship Center, US Post Office, and Eskaton Care Center Manzanita Rehab and Skilled Nursing Care.
The Property was 22.1% occupied as of 6/10/2016 by 17 tenants with the majority currently operating on a month-to-month basis. The Property presents a value-add opportunity through lease-up of the 49,931 sq. ft. of available space at market rates. The most recent NOI for the period ending December 2015 was $80,564 with a Year One As-Is NOI of $85,846. The Year One As-Is NOI is based on in-place rents and 2015 actual expenses.
CLICK HERE TO CONTACT THE LEASING BROKER
FOR LEASE CONTACTS
FPI - Creekside Apartments
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