FoodMaxx 3860 Florin Rd 67,750 SF Retail Building Sacramento, CA 95823 $21,567,001 CAD ($318.33 CAD/SF) 5.49% Cap Rate
EXECUTIVE SUMMARY
The subject is a 67,750 square foot free-standing single tenant commercial building leased to Save Mart dba Food Maxx and is part of a larger shopping center. The building is of painted concrete block construction and was completed in 1973, situated on 5.95 acres of commercially zoned land. The subject property lease originated March 2003 for an
initial 20-year term which expired in March 2023. SaveMart recently extended the firm term through 10/31/2042. 11/1/2027 to 10/31/2032 Base Rent is $822,800.00/year ($68,566.66 per month).11/1/2032 to 10/31/2037 Base Rent is $866,800.00/year ($72,233.33 per month). 11/1/2037 to 10/31/2042 Base Rent is $905,300.00/year ($75,441.66 per month). The roof and the parking lot were replaced in 2021. The property is in good condition with no deferred maintenance.
initial 20-year term which expired in March 2023. SaveMart recently extended the firm term through 10/31/2042. 11/1/2027 to 10/31/2032 Base Rent is $822,800.00/year ($68,566.66 per month).11/1/2032 to 10/31/2037 Base Rent is $866,800.00/year ($72,233.33 per month). 11/1/2037 to 10/31/2042 Base Rent is $905,300.00/year ($75,441.66 per month). The roof and the parking lot were replaced in 2021. The property is in good condition with no deferred maintenance.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
67,750 SF
Building Class
B
Year Built
2002
Price
$21,567,001 CAD
Price Per SF
$318.33 CAD
Cap Rate
5.49%
NOI
$1,183,022 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.26
Lot Size
5.95 AC
Opportunity Zone
Yes
Zoning
C2 - Commercial
Parking
150 Spaces (6.08 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $9,773,885 CAD | |
| Land Assessment | $4,072,420 CAD | Total Assessment | $13,846,305 CAD |
