For Sale
$3,600,000

3243 Sacramento StBerkeley, CA 94702

High-yield retail property, strong lease, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional retail investment opportunity presents a 3,942 square foot property located at 3243 Sacramento St, Berkeley, CA 94702, in Alameda County. The property, built in 1954 and extensively renovated in 2019 (approximately $2.1 million in renovations), boasts a strong 9.75% cap rate and a substantial net operating income (NOI) of $350,957. Currently occupied by Farmacy under a long-term, net-net-plus (NN+) lease with over six years remaining on the base term, the lease includes attractive annual rent increases of 4.00%, providing a hedge against inflation and increasing overall investment yield. The property benefits from its location in a limited-license market in Berkeley, offering long-term stability and reduced risk of market saturation. Its prime corner location at Sacramento Street & Alcatraz Avenue ensures high visibility and traffic, further enhanced by its close proximity to the University of California, Berkeley. The existing license allows for both retail storefront operations and delivery services. The asking price for this exceptional investment is $3,600,000. This is a rare opportunity to acquire a high-performing retail property in a desirable and stable market.

Highlights

  • Berkeley's limited-license market ensures long-term stability and profitability, reducing market saturation risk.
  • Farmacy's long-term NN+ lease has over six years remaining, with 4% annual rent increases, hedging against inflation.
  • High-traffic corner location at Sacramento & Alcatraz Streets, near UC Berkeley.
  • Recently renovated ($2.1M) with a license allowing both retail storefront and delivery service operations.

Property Details for 3243 Sacramento St

Property type
Retail properties
Square Feet
3,942 SF
Year Built/Renovated
1954/2019

Location Insight

City
Berkeley
County
Alameda
State
California
Latitude
37.8481967
Longitude
-122.2775952
3243 Sacramento St, Berkeley, California

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3243 Sacramento St
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