DOWNTOWN SACRAMENTO OFFICE BUILDING FOR SALE - …...Section One: The Opportunity 03 THE OPPORTUNITY...
Transcript of DOWNTOWN SACRAMENTO OFFICE BUILDING FOR SALE - …...Section One: The Opportunity 03 THE OPPORTUNITY...
DOWNTOWN SACRAMENTO OFF ICE BUILD ING FOR SALE
2131 CAPITOL AVENUE, STE 100 SACRAMENTO, CA 95816
916.573.3300 TURTONCOM.COM
© 2020 The information contained in the Offering memorandum is confidential and is not to be used for any other purpose or made available to other persons without the express written consent of Turton Commercial Real Estate (“TCRE”), Ken Turton or the owner. The material contained herein is based upon information supplied by owner in coordination with information provided by TCRE from sources it deems reasonably reliable. Summaries of documents are not intended to be comprehensive or all-inclusive but rather a general outline of the provisions contained herein and subject to more diligent investigation on the part of the prospective purchaser. No warranty, expressed or implied, is made by owner, TCRE or any other respec-tive affiliates, as to the accuracy or completeness of the information contained herein or any other written or aral communication provided to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communication. Without limiting the general nature of the foregoing, the information shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business affairs, specific finances or specific condition of the Property since the date of preparation of the information. Prospective purchaser shall make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, inspection and review of the Property, including but not limited to engineering and environmental inspec-tions, to determine the condition of the Property and the existence of any potential hazardous material located at the site.
JON LANGVICE PRESIDENT - LIC. 01934934916.573.3302JONL [email protected]
AARON MARCHANDVICE PRESIDENT - LIC. 01711650916.573.3305A [email protected]
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KEN TURTONPRESIDENT - LIC. [email protected]
DOWNTOWN OFFICE BUILDING FOR SALE NEAR GOLDEN 1 CENTER, STATE CAPITOL & THE NEW MLS STADIUM
Section One: The Opportunity
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THE OPPORTUNITY
LOCATED AT GROUND ZERO OF SACRAMENTO’S URBAN RENAISSANCE
18,710SF OFFICE BUILDING
$5.2MPURCHASE PRICE
$278PRICE PER SF
Turton Commercial Real Estate is pleased to offer to
the market for sale 930 G Street (the “Property”), an
18,710-square foot, two story office building situat-
ed on a 17,600 square foot parcel of land in Down-
town, Sacramento. The Property is being offered at
$5,200,000 or $278 per square foot which represents
8.2% pro-forma unleveraged capitalization rate.
The Property is a rare and unique opportunity for
an owner-user or investor to acquire a well-located,
prominent, and secure office building in the urban
core. Currently owned and occupied by Pacific Legal
Foundation, the Property is well-suited for a law firm,
accounting firm, non-profit organization, or associ-
ation. Further, the Property features 30 secured and
covered parking stalls, a valuable amenity for a user
or tenant, in a pocket of Downtown where parking is
increasingly difficult to secure. To illustrate its scar-
city, there are only three office buildings between
10,000 and 20,000 square feet available for an own-
er-user in the urban core right now. Of the three other
buildings, two of these opportunities are in escrow at
or above $300 per square foot.
While the Property is priced aggressively relative to
other opportunities, it should also be noted that this
purchase price is well below replacement cost for a
comparable building in the urban core. For example,
recent land sales substantiate land value of $100 per
square foot and the estimated construction costs,
including both capital and tenant improvements,
would run upwards of $300 per square foot. Together,
it would cost approximately $400 per square foot, or
approximately 45% more than the purchase price, to
construct this exact building in today’s market.
Perhaps no aspect of the Property is more notable
than its location in the heart of Downtown Sacra-
mento though. From a legal or political perspective,
nearly every meaningful city, state, or county building
is within walking distance. The Property is situated
one-half block from both Sacramento City Hall, the
County Courthouse, and the County District Attorney’s
Office. Just a mere three blocks away is the bound-
ary of the Railyards Project, future home to 10,000
residential units, several million square feet of office
space, 1,000+ hotel rooms, and the Sacramento Re-
public MLS stadium. Clocking in at five blocks away is
the State Capitol, Federal District Courthouse for the
Eastern District of California, the Golden 1 Center, and
Downtown Commons (DOCO).
RAREOWNER-USER / INVESTMENT OPPORTUNITY
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Address: 930 G Street
Sacramento, CA 95814
Building Size: +/-18,710 SF
APN: 002-0152-028-0000
Year Built: 1961
Year Renovated: Approx. 2014
Zoning: OB
Secured On-site Parking
(partially covered) 30
Construction Type: Wood
Elevator: Yes
Roof: TPO Membrane
Parcel Size: +/-17,598 SF
Price: $5,200,000
Pro-forma Annual Net Rent*: $373,265
Pro-forma Annual Net Parking Income: $54,000
Pro-forma Annual Net Operating Income: $427,265
Pro-forma Annual Unleveraged Yield: 8.2%
Pro-forma Annual Leveraged Yield**: 11.49%
PROPERTY DETAILS
Section One: The Opportunity
ATTRACTIVE AUTHENTIC BRICK FINISHES AND AN ABUNDANCE OF ON-SITE PARK-ING - A RARE AMENITY DOWNTOWN
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* Based on $1.75 per RSF net or $2.35 per RSF Full-Service Gross** Based on following financing variables: 25-year amortization, 10 year fixed rate at 3.5%, 60% LTV
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Section Two: The Location
1BLOCK FROM
CITY HALL
6BLOCKS FROM THE
CONVENTION CENTER
8BLOCKS FROM
I-5 INGRESS & EGRESS
7BLOCKS FROM
GOLDEN 1 CENTER / DOCO
3BLOCKS TO
RAILYARDS DEVELOPMENT
1BLOCK FROM
COUNTY COURTHOUSE
3BLOCKS TO SAC
REPUBLIC MLS STADIUM
5BLOCKS FROM THE
STATE CAPITOL
4BLOCKS FROM COUNTY
ADMINISTRATION OFFICES
4BLOCKS FROM
K STREET RETAIL
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BUILDING LOCATIONIN THE MIDDLE OF A HIGHLY-DESIREABLE NEIGHBORHOOD
The Property enjoys an outstanding location centrally positioned by all of Sacramento’s most desirable amenities:
930
L
Golden 1 Center
11th
10th
JK
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Section Two: The Location
The Bel Vue
TigerBailarin CellarsKodaiko RamenSolomon’s Deli
Ruhstaller TaproomMidiCi
Koja Kitchen
See’s CandiesStarbucks
Cafe ConnectionCafe Roma
La Bou
Morgan’s MillDistrict 30
Crest TheaterDive Bar
Pizza Rock
Temple CoffeeBud’s Buffet
Grange RestaurantTeriyaki To Go
La Bou
Hyatt Regency
Cesar Chavez Park
Bangkok@12 Thai
930 G Street
DOCO
The Bank
City Hall
County Court House
Sac Central Library
Kimpton Sawyer
The Railyards
The Citizen Hotel
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Naked Coffee
CAPITO
L MAL
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A window of opportunity to secure advantagous pricing for real estate in a sub-market that has shown steady demand and growth.
DOWNTOWN MARKET
Section Two: The Location
The COVID-19 pandemic and 2020 BLM protests have
had a major impact on the live/work value proposi-
tion of the Downtown and Midtown markets. Enter-
tainment amenities along with the best restaurants,
cafes, bars and multi-generational retail has always
been the foundation of the urban core allure that has
attracted the highest absorption rate of any of the
submarkets over the last five years. With all major
conventions, sporting and entertainment events put
on hold along with a moratorium on all restaurant and
personal non-medical services for five of the last six
months, urban core retail has suffered and the desir-
ability of the urban working environment has suffered
correspondingly.
Many see this as a temporary window of opportuni-
ty to secure advantageous pricing for real estate in
a sub-market that has shown steady demand and
growth. This is demonstrated in our conservative
rents and capitalization rate. While every submarket
from Roseville and Folsom to Davis has been impact-
ed by the pandemic, most agree that, because Sacra-
mento is still the capitol of the 5th largest economy
in the world and second only to Washington D.C. in
political importance, it is only a matter of time before
all amenities and services will be restored and the
residential and commercial demand of the last 10 –
20 years continues.
The Downtown submarket has seen quite a change
over the last two decades…public officials have been
strategically acquiring property, instituting redevelop-
ment guidelines, establishing development incentives
and making public policy changes to attract retail,
residential, and office tenants while simultaneously
encouraging high density projects (starting with the
section of K Street from 11th to 7th Street).
Through 2013, the results of these efforts had been
slow but steady. The redevelopment of the Citizen/
Grange and Sheraton hotels (at 10th and 12th on J
Street respectively), The Forum Building at 9th and K
Street, 630 K Street and the former Woolworth’s, and
Roos Atkins department stores at 10th and K Street
being the foremost examples. In 2014, these efforts
were expedited by the approval and now completed
multi-purpose 780,000 SF, 17,500-seat Golden 1 Cen-
ter in the former Downtown Plaza.
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The property benefits from all that Downtown Sacramento has to offer. The ultra centralized location provides easy access to every corner of the city.
POPULAR RESTAURANTS NEAR 930 G STREET (not all are mentioned here):
58 Degrees & Holding Co.Ace of SpadesAioli Bodega EspanolaAmaro Italian Bistro & BarArt of ToysAzul MexicanBadlandsBar WestBento BoxBevMoBike DogBottle & BarlowBroderick MidtownBuckhorn GrillBurger PatchBurgers and BrewCafe BernardoCantina AlleyCentro Cocina MexicanaChipotleCornerstone
CrepevilleDarling AviaryDer BiergartenEatuscany CafeElixir Bar & GrillFacesFederalist Public HouseFieldwork Brewing Co.FishFace Poke BarFit EatsFox & Goose Public HouseFrank Fat’sGinger Elizabeth ChocolatesGrangeHighwaterI Love TeriyakiIdentity CoffeeIron Horse TavernJack’s Urban EatsJamie’s Broadway GrillKarma Brew
Kojac KitchenKru JapaneseKupros Craft HouseLowbrauLove ChildLuccaLuna’s Cafe & Juice BarMango’s/BurgertownMake FishMassulo PizzaMercantile SaloonMetro Kitchen & DrinkeryMidiCi Neapolitan PizzaMikuni SushiMonkey BarMorgan’s MillMulvaney’s B&LN Street CafeNekterNidoOld Soul Coffee
Pachamama Coffee CoopPaesano’sParagary’sPizzeria UrbanoPortofino’sPress BistroPronto PizzaPushkin’s BakeryQ Street Bar & GrillR15Red RabbitRick’s Dessert DinerRiverside ClubhouseRoxie Deli and BarbecueRuhstallerSakamotoSauced BBQ & SpiritsSee’s CandiesSelland’sShady LadyShoki Ramen House
Squeeze InnSun & Soil JuiceTank House BBQTapa the WorldTea Cup CafeTemple CoffeeThai BasilThai CanteenThe Golden BearThe Mill Coffee HouseThe PorchThe RindThe WaterboyTres HermanasUncle Vito’s PizzaUniversity of BeerVic’s Ice CreamWaffle Square Country KitchenYogurt a GoGoZelda’s PizzaZocalo
NEARBY AMENITIES
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Section Two: The Location
L
Golden 1 CenterDoco
The Sawyer
I
I-5
10TH
13TH
The State Capitol
Pizza RockCrest Theatre
EllaDive Bar | District 30
Maya’s KitchenOsaka Sushi
Coin-OpTaco Bell Cantina
La BouStarbucks
See’s CandyChicory Cafe
Golden 1
Hyatt Regency
Upper Crust PIzzaEsquire GrillImax Theatre
Convention CenterGrace Coffee
Community Center Theater
Ma Jong’sThe Park
Cafeteria 15L
Old sacramentoThe Railyards
930 G Street
Convention Center(Remodel Underway)
Sheraton Grand
Court House
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MidiCi PIzzaBailarin Cellars
RuhstallerDarling AviaryKoja Kitchen
Convention CenterTo keep Sacramento competitive in the convention industry, the City of Sacramento has
approved the expansion of the Sacramento Convention Center and will be spending more
than $100 million to complete this incredible project. Plans for the project include additional
ballrooms, larger exhibit hall and more meeting space. These plans allow the Convention
Center to hold multiple events at the same time. It is part of a 3-project renovation/
modernization that includes the Memorial Auditorium and the Community Center Theatre.
830 K Street830 K Street is a 63,000 sf four story office building features a historical brick façade with
the original chain driven windows. This iconic K Street property is currently undergoing a
complete renovation.
731 K Street731 K Street is a 3-story mid-rise mixed-use building comprised of 2 levels of above
ground office space, ground floor retail and lower level space totaling 16,793 sf. Currently
undergoing a complete remodel for the new headquarters for Cambria Solutions.
The HardinSituated on the half-block bounded by 7th, 8th, and K Streets, The Hardin is a large,
mixed-use redevelopment project comprised of historic 19th century structures and is
poised to become the new nexus of K Street.
10KMohanna Development Co. plans to construct a 15-story urban residential building with a
hotel component. The project will include 186 small format residential units and the hotel
930 G also benefits from proximity to several nearby development projects which will serve tenants near the Property for years to come.
NEARBY REDEVELOPMENT PROJECTS
portion will have 205 rooms. A retail component is also planned with 7,400 sf located on
the ground floor.
800 BlockCFY Development’s 800 Block mixed-use project will feature 150 residential units with
another 25,600 sf of new retail on K and L Streets.
The Bel VueThe property is a three story 22-unit multifamily property originally built in 1909. The
building is undergoing a full renovation, including new residential affordable housing units
upstairs, and a new ground floor retail experience with new retail storefronts,. The ground
floor offers two incredible retail opportunities with one unit approximately ±1,969 sf and the
second unit approximately ±2,608 sf.
Doco and Golden 1 CenterGolden 1 Center seats 17,500 and hosts hundreds of days of events a year. The development
project adds up to 1.5 million sf of additional development, branded as DOCO, that includes
250,000 sf of office, 630,000 sf of retail, a 250-room Kimpton hotel, and 45 residential
units.
Cathedral Square (at 11th and J)Cathedral Square, one of the largest and highest profile mixed-use projects under
development in Sacramento’s urban core, will provide 153 new multi-family apartments,
102 parking stalls with and 10,320 sf of retail space in a new 7-story building located at the
southwest corner of 11th and J Streets, along urban Sacramento’s busiest thoroughfare.
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Section Two: The Location
THE BEL VUE
DOCO & GOLDEN 1
THE HARDIN CATHEDRAL SQUARECONVENTIONCENTER
CONVENTION CENTER
The Railyards are poised to be the new downtown with office, retail and multi-family amenties. Nearby buildings and their tenants will benefit from the added amenities and living options.
RAILYARDS
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Section Two: The Location
The Railyards development project is located just
north of I Street that will double the footprint of
Downtown Sacramento. Originally built to serve
as the western terminal for the Transcontinental
Railroad, the 244-acre site is now considered the
single largest and transformative development
site in Northern California. The development will
be a dynamic, dense, and modern urban environ-
ment featuring a state-of-the-art mass transit
hub with access to the entire city.
Within the next decade, the Railyards will fea-
ture up to 10,000 residential units, over 500,000
square feet of retail space, nearly 4,000,000
square feet of office space, a 1,300,000 square
foot medical campus, 1,100 hotel rooms, and
33 acres of open park-like space. Furthermore,
if the FC Republic soccer team were to secure
a Major League Soccer expansion franchise, a
25,000-seat soccer stadium would be built in the
Railyards. In a very true sense, The Railyards are
poised to be the new downtown.
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Sacramento is the Capitol of California, the fifth larg-
est economy in the world. While perhaps not consid-
ered as prolific as many of the tourism-based cities
in California such as San Francisco, Los Angeles and
San Diego, being the hub of California’s governmental
structure provides an incredible amount of economic
stability throughout the region. In addition, Sacra-
mento is being increasingly recognized as an outdoor
enthusiast’s dream city with its remarkably central
location to Lake Tahoe, the Sierras, Yosemite and the
Coast.
In a recent study completed by WalletHub for Nation-
al Nutrition Month, Sacramento was ranked the 5th
healthiest city in the United States among 100 large
cities (ranking higher than the likes of Denver, Col-
orado Springs, San Francisco, Portland, Austin, San
Antonio and Seattle). Forbes magazine ranked Sacra-
mento as the 10th healthiest city in the United States
SACRAMENTO
CALIFORNIA’S FASTEST-GROWING METROPOLITAN AREA
215+15.3 MILLION 71,335DAYTIME EMPLOYEESANNUAL REGIONAL VISITORS BARS / RESTAURANTS
versus all cities. A big part of this recognition stems
from the city’s proximity to the American River. Hik-
ing trails and white-water rafting abound along the
American River as well as one of Sacramento’s crown
jewels - the 32-mile American River Bike Trail which
runs entirely along the river from Beal’s State Park to
Discovery Park where it conjoins with the Sacramento
River to Old Sacramento on the riverfront (a stones
throw from the Subject Property).
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THERE’S A REASON EVERYONE IS COMING HERE.
Section Three: Sacramento 930
Section Three: Sacramento
Located only 85 miles east of San Francisco, Sac-
ramento enjoys easy, unfettered access to all of the
entertainment amenities provided by the robust Bay
Area as well as the entire Northern California region,
for about 60% of the cost.
Blessed with a consistent climate featuring over
300 days of sun on average throughout the year, the
region is located at the Northern portion the Cen-
tral Valley which produces more agriculture than any
other valley in the United States, If you are eating a
tomato in the United States there is a 9 in 10 chance
it came from the Central Valley. Lettuce, almonds,
rice and mandarin oranges are close behind. This
unique combination of soil, water and temperature in
coordination with Sacramento’s solid, highly reliable
economic base to create the perfect combination
of variables to truly make Sacramento the “farm-
to-fork” capital of the world. No one on Earth, as
a whole, eats more fresh food than Sacramentans.
And if you want to select the perfect wine to com-
pliment your meal you are a mere 60 minutes from
arguably the finest wine region in the world. On any
given day it is faster (not closer) to get to downtown
Napa from downtown Sacramento than downtown
San Francisco.
Ten minutes from downtown Sacramento is UC Da-
vis - acknowledged as one of the finest agricultural
institutions in America. UCD is home to the Mondavi
Center, a $10M performance art center donated by
the Mondavi Family who maintains a close relation-
ship with their renowned viticulture department.
In addition to the State Government, Sacramento
features a number of larger locally based employers
including Vision Service Plan, Blue Diamond Almond
Growers (located on 16th Street), Raley’s, Sutter
Health, Dignity Health, Kaiser Permanente, UC Da-
vis Medical Center, McClatchy as well as California
Public Employees Retirement System and California
State Teachers Employee Retirement System... two
of the largest pension funds in the world. Regional
employers with large presence in Sacramento in-
clude AT&T, Wells Fargo, Intel, Apple, AAA and Tesla.
Employment growth in Sacramento has largely
outpaced the national average since 2012. Profes-
sional and business services, as well as leisure and
hospitality, have been among the strongest growth
sectors in this cycle, but education and health ser-
vices, sector has been the largest contributor to job
growth since the bottom of the economic downturn.
Total employment in this sector is nearly 25% above
its prerecession peak. Local hospitals have noted
that, as of May 2017, thousands of medical positions
remain unfilled due to the lack of skilled talent in
the metro. Within the professional and business ser-
vices sector, administrative and support jobs have
benefitted, because the metro’s low business costs
attract firms with back-office operations. Continued
growth is expected in the state and local government
sectors. Sacramento has the highest share of pub-
lic sector employment in the country (approximately
25%) ahead of even that of Washington D.C.
Sacramento’s relative affordability versus ame-
nities remains one of its biggest draws. Population
growth is expected to average about 1% (20,000
annually for the region) over the next five years and
is expected to outpace the national average. House-
hold growth continues to far outpace the rate of sin-
gle-family and apartment deliveries. In recent years,
Bay Area residents have flocked to Sacramento to
escape exorbitant housing costs.
SACRAMENTO
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The urban core of Sacramento (Downtown and Midtown) is the most desirable business location in the Sac-ramento region and easily boasts the lowest combined commercial vacancy rate, hovering between 5 – 8%.
URBAN RENAISSANCE
Section Three: Sacramento
While the Golden 1 Center has expedited urban
renovation on the K Street Grid, the renaissance of
Sacramento’s urban sectors surrounding the K Street
Grid has been underway for several years now. Res-
idential migration to the higher density urban cores
is a phenomenon easily recognizable in Tier 1 popu-
lation centers like New York, Chicago, Philadelphia,
and in California, Los Angeles, San Francisco and
San Diego. This same pattern is now beginning in
Tier 2 population centers like Portland, Denver, San
Antonio and Sacramento.
The urban core of Sacramento (Downtown and Mid-
town) is the most desirable business location the
Sacramento region and easily boasts the lowest
combined commercial vacancy rate, hovering be-
tween 5 – 8%. This figure is impressive when factor-
ing in many buildings marketed as “available” that
are functionally obsolete and non-compliant. The ur-
ban core is the perfect fusion of multi-generational
locally owned business, organic youth infused retail
and services, a healthy dose of carefully selected
national and regional retailers, the best restaurants
east of the Bay Bridge, an eclectic mix of high-end
demographic occupations all magically embedded in
a landscape of unique older buildings and mature
trees and flora.
Developers are now highly focused on the “cool”
vacant buildings and key infill properties within
the downtown grid to further capitalize on this in-
creasing demand. Unique historical buildings and
warehouses, multi-story downtown midrise struc-
tures with impressive window lines and ceiling
heights, multi-generational businesses with local
ownerships, mature landscape with generous tree
lines and an impressive, yet eclectic, residential
and workforce demographic create the foundation
for amazing opportunity. Having the Capitol of the
world’s 5th largest economy located five blocks from
the new Golden 1 Center provides even more demand
and market stability.
Office and retail vacancy has traditionally hovered
at a steady 8 – 11%, much of which is due to chron-
ic vacancy in the form of non-compliant blighted
buildings. Even then, residential vacancy is virtu-
ally non-existent. Recent new construction projects
have leased up faster than pro-forma. Virtually ev-
ery vacant building within the Grid or immediately
surrounding area has activity. If one looks at the
history of urban development in Sacramento along
with current composition of activity, momentum and
demand, the most attractive opportunities reside
within the Grid, and the opportunity with the most
versatility, best location and greatest upside with
least risk are properties located within the Grid.
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#1 Happiest workers in midsized cities
#2 Top 10 most fun, affordable U.S. cities
#4 U.S metro clean tech index
#4 Best cities for nerds
#5 Hot startup cities
#10 Best cities for women in the workforce
#10 Best cities for coffee snobs
#10 Least Stressed-out cities
#14 America’s coolest cities
#16 Best cities for millennials
SACRAMENTO’S CITY RANKINGS
SACRAMENTO DATA BITESSacramento’s relative affordability versus amenities remains one of its biggest draws. Population growth is expected
to average about 1% (20,000 annually for the region) over the next five years and is expected to outpace the national
average. Household growth continues to far outpace the rate of single-family and apartment deliveries. In recent years,
Bay Area residents have flocked to Sacramento to escape exorbitant housing costs.
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Section Three: Sacramento
FASTER GROWTH THAN AVG IN PRO-FESSIONALS WITH BACHELORS
2013 2015 2017 2019100%
102%
104%
106%
108%
110%
SACRAMENTO REGION ANNUAL SALARY BREAKDOWN:
Over $100,000 - 17%$75,000 - $100,000 - 11%
$60,000 - $75,000 - 10%$40,000 - $60,000 - 18%
$30,000 - $40,000 - 12%Under $30,000 - 32%
LARGEST EMPLOYMENT INDUSTRIES WITHIN 1 MILE RADIUS OF THE PROPERTY:
ANNUAL CONSUMER SPENDING WITHIN A ONE MILE RADIUS OF THE PROPERTY:
Entertainment
Eateries/alc.
Transport
Health & ed.
Household
20 40 60 80*Numbers in millions0
*Based on data from 2019
NUMBER OF EMPLOYEESWITHIN VARYING RADIUS OF THE PROPERTY:
1 MILE 2 3
98,091
131,780
182,349
48% Public Admin. & Sales
17% Science & Tech.
4% Information
5% Healthcare & Social
7% Hospitality & Food
19% Other
WALKSCORE:
95BIKE
SCORE:
99TRANSITSCORE:
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Sect ion Four : Economics
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FLOOR PLANS
ECONOMICS
930
RSF: 18,710
Market monthly rent per square feet: $1.75/SF NNN
Monthly rent: $32,742
Monthly parking income: $4,500
Gross Monthly Rent: $37,242
Gross Annual Rent: $446,910
Less 5% vacancy: ($22,346)
Gross Annual less V/R: $424,565
Net Operating Income w/ Pro-forma taxes: $424,565
Purchase Price: $5,200,000
Capitalization Rate: 8.2%
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2131 CAPITOL AVENUE, STE 100 SACRAMENTO, CA 95816
916.573.3300 TURTONCOM.COM
© 2020 The information contained in the Offering memorandum is confidential and is not to be used for any other purpose or made available to other persons without the express written consent of Turton Commercial Real Estate (“TCRE”), Ken Turton or the owner. The material contained herein is based upon information supplied by owner in coordination with information provided by TCRE from sources it deems reasonably reliable. Summaries of documents are not intended to be comprehensive or all-inclusive but rather a general outline of the provisions contained herein and subject to more diligent investigation on the part of the prospective purchaser. No warranty, expressed or implied, is made by owner, TCRE or any other respec-tive affiliates, as to the accuracy or completeness of the information contained herein or any other written or aral communication provided to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communication. Without limiting the general nature of the foregoing, the information shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business affairs, specific finances or specific condition of the Property since the date of preparation of the information. Prospective purchaser shall make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, inspection and review of the Property, including but not limited to engineering and environmental inspec-tions, to determine the condition of the Property and the existence of any potential hazardous material located at the site.
JON LANGVICE PRESIDENT - LIC. 01934934916.573.3302JONL [email protected]
AARON MARCHANDVICE PRESIDENT - LIC. 01711650916.573.3305A [email protected]
KEN TURTONPRESIDENT - LIC. [email protected]
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