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South Hills Shopping Center 5900-5982 S Land Park Dr 45,860 SF 100% Leased Retail Building Sacramento, CA 95822 $10,228,445 CAD ($223.04 CAD/SF) 6% Cap Rate
Investment Highlights
- For sale is a grocery shadow-anchored retail center in an established, infill Sacramento neighborhood
- Four of the tenants are on month-to-month tenancy, with an average in-place rent of $11.82/SF
- Nine of the current tenants have operated at this center for over 10 years, showing a strong commitment to this retail node
- An immediate upside through: (i) converting gross leases to NNN, (ii)executing long-term leases with below market MTM tenants, and (iii) vacant pad
- The subject property is being offered for below replacement cost at $149.37/SF
- Within the past three years, the center has undergone common area improvements including fresh exterior paint, parking lot repairs and seal coating
Executive Summary
Available for sale is a portion of the South Hills Shopping Center, consisting of an inline retail center adjacent to an Asian grocery store which serves the community.
The subject property is situated in the heart of an infill and affluent residential neighborhood, and there is no grocery competition in the immediate area, making South Hills Shopping Center a go-to destination for nearby residents.
The property has average rents of $13.50/psf and has substantial upside and further repositioning opportunities.
The subject property is situated in the heart of an infill and affluent residential neighborhood, and there is no grocery competition in the immediate area, making South Hills Shopping Center a go-to destination for nearby residents.
The property has average rents of $13.50/psf and has substantial upside and further repositioning opportunities.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
45,860 SF
Building Class
C
Year Built
1971
Price
$10,228,445 CAD
Price Per SF
$223.04 CAD
Cap Rate
6%
NOI
$613,299 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.20
Lot Size
5.36 AC
Zoning
C-1 - Limited Commercial
Parking
300 Spaces (6.54 Spaces per 1,000 SF Leased)
Frontage
459’ on Land Park Dr
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 024-0430-015 | Improvements Assessment | $1,568,339 CAD |
| Land Assessment | $933,692 CAD | Total Assessment | $2,502,031 CAD |
Property Taxes
Parcel Number
024-0430-015
Land Assessment
$933,692 CAD
Improvements Assessment
$1,568,339 CAD
Total Assessment
$2,502,031 CAD
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South Hills Shopping Center | 5900-5982 S Land Park Dr
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