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7500 Elsie Avenue - Victory Plaza, Sacramento, CA

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7500 Elsie Avenue - Victory Plaza

Sacramento, CA 95828 - South Sacramento Ret Submarket

(901.3 KB)

Property Type:Retail Sub Type:- Status:Existing Year Built:2008
Building Size:12,748 SF Land Area:1.15 AC (50,185 SF)
For Sale Price:$2,625,000 Price/SF:$205.91
Cap Rate:6.79 %
Parking:58 Surface spaces are available; Ratio of 4.6/1,000 SF

Sale Notes:
Victory Plaza is a rare opportunity to purchase a newer construction well-located stabilized passive-income multi-tenant retail center with a stabilized rent roll, long-term leases, and potential for upside.

The property is currently 82% leased to seven tenants and has two small vacancies in good condition. The Seller just signed a new lease for ten years with an established dentist, and extended leases with two existing tenants. Three of the largest tenants responsible for 57% of the existing income have leases expiring in 2027, 2024, and 2020.

The capitalization rate on actual current 82% occupancy is 6.79%, with upside potential by leasing up the two small vacancies (both in excellent condition). The building was recently built and is exceptionally located along a busy traffic corridor with immediate proximity to Highway 99. The large lot affords an above-average parking ratio of 4.7/1,000 SF.

Marcus & Millichap Inc
Russ Moroz
(916) 724-1310

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