Marcus & Millichap has been selected to exclusively market for sale 4150 Florin Perkins Road, a multi-tenant industrial property in the Power Inn submarket of Sacramento, California with desirable M-1S Light Industrial Zoning. The building has a newer roof and a recently upgraded 2,000 Amp electrical system.
4150 Florin Perkins Road consists of a single industrial warehouse of approximately 35,045 square feet located on a roughly 2.09-acre parcel. ±14,000 square feet are currently leased for $1.70 PSF NNN on a new five-year lease. The remaining 21,000 SF is vacant, but the current tenant has expressed interest in taking over the remaining space at $1.25 PSF NNN, bringing the pro-forma cap rate to 11.41%.
The property is well situated in the Power Inn submarket of Sacramento, which boasts a 3.3% vacancy rate in the industrial sector. The location provides immediate access to Highway 50 with connections to I-80, I-5, and Highway 99. Further, the property is located less than five miles from Mather Airport, a regional hub for cargo and general aviation.
The offering represents the rare opportunity to own a fully leased, high-quality industrial investment property with strong tenants, excellent income all for $142 PSF.