1870 Arden WaySacramento, CA 95815

Property Details for 1870 Arden Way

Year built

2013

Construction

TILT-UP CONCRETE

Lot size

4.53 AC

Property size (Sq ft)

55,642 SF

Zone code

SC-R-PUD

Property type

Retail properties

Property subtype

Other individual retail properties

APN

277-0271-029-0000

APU

27702710290000

Description

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.

Location Insight

City

Sacramento

County

Sacramento

State

California

Latitude

38.5961

Longitude

-121.426

CBSA code

40900

CBSA name

SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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