Bldg B | 120 Gateway Dr
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Bldg B 120 Gateway Dr
19,313 SF 100% Leased Retail Building Lincoln, CA 95648 $5,098,200 CAD ($264 CAD/SF) 6% Cap Rate
Investment Highlights
- Located directly off of Highway 65
- First class architecture
- Upside in building out and renting the 3,000 square foot storage space
- Part of a multi-building business park with terrific synergy
- Both Tenants have occupied their space for more than 10 years
Executive Summary
120 Gateway Drive presents a unique opportunity to own a multi-tenant commercial building in Lincoln, California. Located
directly off of Highway 65 and Lincoln Blvd, The property is part of an eight building business park all with a very similar,
upscale architectural style. The synergy amongst all of the business park tenant’s as well as a lack of there being any
vacancy in the area has proven that significant consumer spending occurs within this area.
The building is being offered for sale at $3,640,000. This equals $188 per square foot (which is significantly below
replacement costs). There is a vacant 3,000 square foot space that has never been built-out and has always been used as
storage. This particular space could easily be rented if a store front was installed along with a vanilla shell finish within the
interior portion. Current market rents in surrounding retail centers suggest that this space would rent for $2.50 per square
foot or more.
directly off of Highway 65 and Lincoln Blvd, The property is part of an eight building business park all with a very similar,
upscale architectural style. The synergy amongst all of the business park tenant’s as well as a lack of there being any
vacancy in the area has proven that significant consumer spending occurs within this area.
The building is being offered for sale at $3,640,000. This equals $188 per square foot (which is significantly below
replacement costs). There is a vacant 3,000 square foot space that has never been built-out and has always been used as
storage. This particular space could easily be rented if a store front was installed along with a vanilla shell finish within the
interior portion. Current market rents in surrounding retail centers suggest that this space would rent for $2.50 per square
foot or more.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
19,313 SF
Building Class
B
Year Built
2009
Price
$5,098,200 CAD
Price Per SF
$264 CAD
Cap Rate
6%
NOI
$305,892 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Zoning
COMMERCIAL
Walk Score ®
Very Walkable (80)
Bike Score ®
Very Bikeable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 008-280-042 | Improvements Assessment | $2,508,747 CAD |
| Land Assessment | $435,715 CAD | Total Assessment | $2,944,462 CAD |
PROPERTY TAXES
Parcel Number
008-280-042
Land Assessment
$435,715 CAD
Improvements Assessment
$2,508,747 CAD
Total Assessment
$2,944,462 CAD
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Bldg B | 120 Gateway Dr
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