Former Rite Aid – High Traffic Intersection | 6661 Auburn Blvd
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Former Rite Aid – High Traffic Intersection 6661 Auburn Blvd
16,836 SF Vacant Retail Building Online Auction Sale Citrus Heights, CA 95621
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Investment Highlights
- 6661 Auburn Boulevard is a 16,836-square-foot former Rite Aid with a drive-thru offering over 70 parking spaces on a 1.76-acre lot.
- Retail/ pharmacy user’s prime opportunity or an investor ready to take advantage of the LC zoning, permitting office, mixed-use, residential, etc.
- Nearby national tenants include Costco, Walmart Supercenter, Applebee’s, Starbucks, McDonald's, Jack in the Box, Taco Bell and more.
- Located off Interstate 80 in the beautiful suburb of Citrus Heights, approximately 16 miles from Downtown Sacramento.
- At a signalized intersection where traffic counts exceed 41,500 VPD, the building is co-located with long-term tenant 24 Hour Fitness.
- There are over 381,000 people with an average household income exceeding $94,500 within a 5-mile radius.
Executive Summary
Marcus and Millichap, as the exclusive advisor, is pleased to present 6661 Auburn Boulevard in Citrus Heights, California, to the market. The subject asset is a 16,836-square-foot freestanding retail storefront set on 1.75 acres in a low-density residential Sacramento exurb. The building was previously occupied by Rite Aid. The well-maintained property is next to 24 Hour Fitness and is located between two nearby retail corridors on a busy street. The single-story building features excellent visibility and monument signage, a double drive-thru lane, and a small rear loading door. Parking is ample, with approximately 73 parking spaces currently configured. LC (Limited Commercial) Zoning permits retail, office, residential, or mixed-use. Located at a signalized intersection, traffic counts exceed 41,500 vehicles per day. The building is co-located with 24 Hour Fitness, a long-term tenant at the site. Residential homes, apartments, senior living, and other retail uses dominate the area. Nearby national tenants include Costco, Walmart Supercenter, Applebee’s, Starbucks, McDonalds, Jack in the Box, Taco Bell, and more.
Citrus Heights is approximately 16 miles northeast of Downtown Sacramento, with a population of about 87,000 people. It is renowned as an attractive destination for families seeking a low cost of living, a relatively mild climate, and outdoor activities. According to CoStar, it features an 8.3 million-square-foot retail submarket with an average asking rent of $1.68 NNN and a vacancy rate of 10.2%. Sunrise Mall, the largest in the area, spans 1.1 million square feet and was rezoned in 2021 for a multi-phase mixed-use development, including residential, office, and hotel, and a reduced retail component of 320,000 square feet. As the project is built over time, it is expected to bring thousands of new jobs and increased tax revenue to the city.
Sacramento is the capital city of California and the seat of Sacramento County. Located at the confluence of the Sacramento River and the American River in the northern portion of California’s Central Valley, it has a population of about 513,000 people within a metropolitan area of about 2.4 million. It has a diverse and dynamic economy driven by various sectors, such as government, education, health care, technology, agriculture, and tourism. Some major employers in Sacramento include the State of California, the University of California Davis, Sutter Health, Intel, and SMUD. Of 6661 Auburn Boulevard’s 5-mile radius, there are over 381,000 people with an average household income exceeding $94,500 within a 5-mile radius.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
Citrus Heights is approximately 16 miles northeast of Downtown Sacramento, with a population of about 87,000 people. It is renowned as an attractive destination for families seeking a low cost of living, a relatively mild climate, and outdoor activities. According to CoStar, it features an 8.3 million-square-foot retail submarket with an average asking rent of $1.68 NNN and a vacancy rate of 10.2%. Sunrise Mall, the largest in the area, spans 1.1 million square feet and was rezoned in 2021 for a multi-phase mixed-use development, including residential, office, and hotel, and a reduced retail component of 320,000 square feet. As the project is built over time, it is expected to bring thousands of new jobs and increased tax revenue to the city.
Sacramento is the capital city of California and the seat of Sacramento County. Located at the confluence of the Sacramento River and the American River in the northern portion of California’s Central Valley, it has a population of about 513,000 people within a metropolitan area of about 2.4 million. It has a diverse and dynamic economy driven by various sectors, such as government, education, health care, technology, agriculture, and tourism. Some major employers in Sacramento include the State of California, the University of California Davis, Sutter Health, Intel, and SMUD. Of 6661 Auburn Boulevard’s 5-mile radius, there are over 381,000 people with an average household income exceeding $94,500 within a 5-mile radius.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Plans and Permits
Market Analytics Click Here to Access
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Market Sale Price per SF
Sacramento - CA USA
Market Cap Rate
Sacramento - CA USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Drug Store
Building Size
16,836 SF
Building Class
C
Year Built
1999
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Land Acres
1.75 AC
Zoning
LC - LC (Limited Commercial) - Retail, Office, Residential, Mixed Use
Parking
73 Spaces (4.34 Spaces per 1,000 SF Leased)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
18,455
170,297
378,400
2020 Population
18,659
172,579
383,487
2029 Population
18,532
171,132
383,370
2024-2029 Projected Population Growth
0.4%
0.5%
1.3%
Daytime Employees
3,596
42,599
100,717
Total Businesses
483
6,308
15,290
Average Household Income
$91,205
$90,139
$98,288
Median Household Income
$70,909
$73,114
$78,199
Total Consumer Spending
$251.8M
$2.1B
$4.8B
Median Age
43.2
38.5
39.2
2024 Households
7,781
64,751
139,903
Percent College Degree or Above
14%
15%
17%
Average Home Value
$488,004
$454,266
$501,302
$ values in USD
PROPERTY TAXES
| Parcel Number | 211-0132-046 | Improvements Assessment | $4,677,690 CAD |
| Land Assessment | $1,150,758 CAD | Total Assessment | $5,828,448 CAD |
PROPERTY TAXES
Parcel Number
211-0132-046
Land Assessment
$1,150,758 CAD
Improvements Assessment
$4,677,690 CAD
Total Assessment
$5,828,448 CAD
Sale Advisors
Sale Advisors
Bill Allen, Senior Vice President Investments
(650) 391-1703
Contact
Bill has over 18 years of experience in commercial real estate. He has worked in investment sales, leasing and as a principal investor. Over 300 transactions have been negotiated on behalf of his clients, with a value at over $250,000,000. Bill has broad knowledge in all property types including office/industrial, retail, and multi-family. Clients benefit from Bill's knowledge of the real estate market, experience, keen negotiating skills and above all, his commitment to excellent results.
In 2008, Bill joined Marcus & Millichap as Associate Vice President Investments. In 2010 he was in the Top 5 Agents in the company for Office/Industrial sales. He was presented with the Sales Achievement Award and was #3 Agent in the Palo Alto office. Prior to joining Marcus & Millichap, he was with Colliers International as Senior Vice President and in 2007 was in the top 8% agents in the company. He has consistently achieved awards: Top Producing Agent award in 2007, 2004, 2002, 2001; and he was presented with the "90/10" & "80/20" Sales Awards in 2007, 2006, 2005, 2004, 2003, 2002, and 2001.
Bill has earned the CCIM Designation from the National Association of Realtors by completing graduate level education in Finance, Marketing, Consulting, Investment Analysis, Work Experience and passing a comprehensive examination. Less than 8% of practicing commercial real estate agents in the U.S. hold the CCIM designation. Bill is also a California licensed Real Estate Broker.
Bill Graduated from UC Santa Barbara with a Bachelor's Degree in Law & Society and minor concentration in Business Economics. Bill enjoys playing golf, snowboarding, hiking, and playing basketball. He is married and lives on the San Francisco Mid-Peninsula.
In 2008, Bill joined Marcus & Millichap as Associate Vice President Investments. In 2010 he was in the Top 5 Agents in the company for Office/Industrial sales. He was presented with the Sales Achievement Award and was #3 Agent in the Palo Alto office. Prior to joining Marcus & Millichap, he was with Colliers International as Senior Vice President and in 2007 was in the top 8% agents in the company. He has consistently achieved awards: Top Producing Agent award in 2007, 2004, 2002, 2001; and he was presented with the "90/10" & "80/20" Sales Awards in 2007, 2006, 2005, 2004, 2003, 2002, and 2001.
Bill has earned the CCIM Designation from the National Association of Realtors by completing graduate level education in Finance, Marketing, Consulting, Investment Analysis, Work Experience and passing a comprehensive examination. Less than 8% of practicing commercial real estate agents in the U.S. hold the CCIM designation. Bill is also a California licensed Real Estate Broker.
Bill Graduated from UC Santa Barbara with a Bachelor's Degree in Law & Society and minor concentration in Business Economics. Bill enjoys playing golf, snowboarding, hiking, and playing basketball. He is married and lives on the San Francisco Mid-Peninsula.
Edward Nelson, Senior Vice President Investments, Senior Director
(916) 724-1400
Contact
Edward Nelson is the founding member of the The Nelson Retail Group of Marcus & Millichap (www.thenelsonretailgroup.com). The Nelson Retail Group specializes in Retail, Net-Leased and Office properties out of the firm's Sacramento, California office.
As a Senior Vice President and Senior Director of Investments, Mr. Nelson exclusively represents Buyers and Sellers of Investment Properties throughout the nation. Mr. Nelson's expertise lies in his product specialization and his ability to approach each transaction with his client's best interest as his primary objective. His clients appreciate his direct approach to delivering the facts about value, markets, and being realistic about what he can deliver. Mr. Nelson's track record of helping clients maximize returns by executing first-class marketing initiatives has resulted in long-term relationships.
Mr. Nelson joined Marcus & Millichap in 2004 and has been directly involved in over 300 investment transactions valued over $900 million dollars during his career. He has been highlighted multiple times in the "Heavy Hitters in Commercial Real Estate" feature in the Sacramento Business Journal and has been quoted by news publications for his expertise in commercial real estate.
As a Senior Vice President and Senior Director of Investments, Mr. Nelson exclusively represents Buyers and Sellers of Investment Properties throughout the nation. Mr. Nelson's expertise lies in his product specialization and his ability to approach each transaction with his client's best interest as his primary objective. His clients appreciate his direct approach to delivering the facts about value, markets, and being realistic about what he can deliver. Mr. Nelson's track record of helping clients maximize returns by executing first-class marketing initiatives has resulted in long-term relationships.
Mr. Nelson joined Marcus & Millichap in 2004 and has been directly involved in over 300 investment transactions valued over $900 million dollars during his career. He has been highlighted multiple times in the "Heavy Hitters in Commercial Real Estate" feature in the Sacramento Business Journal and has been quoted by news publications for his expertise in commercial real estate.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Molly Patten
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr 01937601. Ten-X Auction Surety Bond 106465786
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Bill Allen -
Edward Nelson -
Marcus and Millichap Investment Group
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PHOTOS
STREET VIEW
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MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Former Rite Aid – High Traffic Intersection | 6661 Auburn Blvd
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