1870 Arden WaySacramento, CA 95815

Point West Plaza, a premier 119,664 square foot shopping center in Sacramento, California, presents a compelling investment opportunity. This stabilized, multi-tenant property boasts a strong lineup of national retailers including Hobby Lobby, Petco, Old Navy, Daiso, Five Below, and David's Bridal, all operating under 100% occupancy. Built in 1973 and significantly renovated in 2012/2013, the single-story center sits on a 9.33-acre lot and is zoned BEC - Shopping Center. The property features a current NOI of $2,115,038 and a pro-forma NOI of $2,262,588, yielding a 7.30% cap rate and a pro-forma cap rate of 7.81%, respectively. The asking price is $28,964,000, translating to a price per square foot of $242.04. Significant recent improvements include a new roof for Petco in August 2023. The property benefits from two assumable Life Insurance Company loans totaling approximately $14.511 million with a 5.25% interest rate. The property's prime location between Arden Fair and Cal Expo, with convenient three-street access and high visibility, ensures continued strong tenant demand and leasing potential. Recent lease renewals and new tenant additions demonstrate the property's enduring appeal and market strength. The property is offered with or without the Hobby Lobby anchor tenant. The property address is 1870 Arden Wy, Sacramento, CA 95815.