6531 Folsom Blvd
Sacramento, CA 95819
Commerce de détail Propriété À vendre

As exclusive advisor, CBRE is pleased to present the opportunity to acquire a leased commercial building with a fully-entitled development project, located at 6531 Folsom Boulevard in Sacramento, California.
The Subject Property is a high-quality urban infill site in East Sacramento on +/-.34 acres with fully approved entitlements for a mixed-use multifamily development, called Baobab Apartments. The Baobab Apartment Project is 6-story mixed use building consisting of 56 apartment units with a mix of 2-bed, 1-bed, and studio units. The project is designed with flexibility to be developed and operated as either market-rate multifamily or student housing of 66 beds. Amenities include a lounge, club room, bike room, courtyard on the 2nd floor, and common use amenity space. The project provides on-site parking for 16 vehicle stalls and 38 bicycle spaces. A 840 SF retail space is located on the groundfloor along Folsom Blvd, a high traffic retail corridor.
The Subject Property presents a rare “covered land play” real estate strategy, producing income until redevelopment of the property can occur in opportune market conditions. The Property is 100% leased to a single commercial tenant, Jet Black Tint, on a long-term NNN lease with the ability for the owner to terminate the lease early, demolish the building, and start construction on the apartments. Boasting 100 feet of street frontage along Folsom Blvd, the building consists of approximately 1,800 SF showroom and office space and 3,160 SF dedicated warehouse space with a roll-up door accessible from the alley. Built in 1966, the Property features a large glass window line, exposed trusses throughout the warehouse, and corner visibility with monument signage. Additionally, the Property currently has 14 parking stalls in an area with heavily-constrained parking availability.
East Sacramento is one of the most affluent residential neighborhoods in the region. The site is conveniently located proximate to popular restaurants, cafes, schools, parks, grocery stores, and less than a quarter mile from CSU Sacramento and from the University/65th Street Light Rail Station. This site’s irreplaceable location makes it a prime opportunity for multifamily or student housing development. 6531 Folsom Blvd provides a developer an opportunity to acquire one of the most desirable sites available today with in-place cash flow until groundbreaking.