3900 Lennane Dr - Office FOR SALE


Sacramento, CA 95834- Natomas Crossing
$6,333,000 USD
916-642-3914
3900 Lennane Dr, Sacramento, CA for Sale
$6,333,000 USD
Office - FOR SALE
1/16
null | 9.67% Cap Rate

3900 Lennane Dr
Sacramento, CA 95834
Natomas Crossing


HIGHLIGHTS

  • 100% LEASED LOW-RISE OFFICE OPPORTUNITY WITH 5-YEAR WALT
  • STRONG MARKET MOMENTUM & INCREDIBLE ACCESS AND AMENITIES

OVERVIEW

100% LEASED LOW-RISE OFFICE OPPORTUNITY WITH 5-YEAR WALT * Low Price Per Square Foot | The asking price for this 100% leased asset is only $137/SF. * Leasing Momentum | 100% leased asset with 78% of the Tenant Roster comprised of new tenants signed post-Covid. * Long-Term Leases | Above-average WALT of 5.20 years remaining, which is rare for a multi-tenant investment and provides a buyer with added income stability. * Extensively Renovated | All suites are in Class A condition with high-end renovations and will require minimal tenant improvements during renewal/upcoming rollover. * Recent Capital Expenditures | Total recent expenditures total $1.43 million, which cover common and exterior areas, as well as suite improvements. STRONG MARKET MOMENTUM * Below Market Rents | Rents in place are 10% below market, allowing a buyer significant upside. * Submarket Momentum | The North & South Natomas office market has recently seen a surge of activity from tenants relocating out of downtown due to health and safety concerns as well as a desire for free parking, shorter commute times, and more affordable rents. INCREDIBLE ACCESS AND AMENITIES * Retail-Rich, Infill Location | The Property is across the street from the Target-anchored Promenade at Gateway and Truxel Gateway, providing tenants with immediate access to 1.1 Million Square Feet of retail options and ±123 retailers. * North Natomas is on the Rise | Kaiser Permanente is planning an outpatient service center, Cal North State is building Innovation Park, single family home development is on the rise, the Centene Campus has recently increased its occupancy, a new Top Golf location is in the works, etc. * Immediate Access to Freeways | The Property provides its tenants with immediate access to Interstate 80 and Interstate 5, allowing access to most of Sacramento within a 15-minute drive.

FOR SALE DETAILS

PRICE

$6,333,000 USD

PRICE/SF

$138 USD /SF

CAP RATE

9.67%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

178

LAND DETAILS

LAND ACRES

2.64 AC

LAND SF

114,998 SF

ZONING

MP

APN/PARCEL ID

225-0944-033

ASK ABOUT THIS PROPERTY

Matt PostCBRE, Inc.More Info
916-642-3914

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Matt PostCBRE, Inc.More Info
916-642-3914

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.