For Sale
$999,999

650 Howe AveSacramento, CA 95825

High-return, 100% occupied, triple-net lease.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Sacramento office building, located at 650 Howe Ave, #700, presents a compelling investment opportunity. The 4,514 square foot property, built in 1972 and renovated in 1995, boasts a strong 7.74% cap rate and a Net Operating Income (NOI) of $77,400 annually. Currently 100% occupied since May 24, 2010, with three tenants under a gross lease structure, this single-story building offers ease of management. Tenants include a medical office, a hair salon (operating for over 14 years), and a church (with a 4-year lease and 5-year options). The asking price is $999,999, translating to $221.53 per square foot and $333,333 per unit. The property is zoned BP (Business Professional) and features a total of three units. Annual expenses include a $895 monthly HOA fee (covering exterior roof, walls, and parking, plus gas), $200 monthly for water and sewer, and $120-$150 monthly for electricity. The property's strong tenant base and consistent income stream make it an attractive investment for discerning buyers. The APN is 29400600070003. This sale is offered as a sale/leaseback.

Highlights

  • Gross annual income: $92,340
  • HOA fees: $895/month (includes exterior roof & walls, parking, and gas)
  • Water & sewer: $200/month
  • Electricity: $120-$150/month
  • Net operating income (NOI): $77,400/year, yielding a 7.07% capitalization rate (Cap Rate), exceptional for a fully occupied office building.

Property Details for 650 Howe Ave

Property type
Office properties, Office space
Square Feet
4,514 SF
Class
C
Year Built/Renovated
1972/1995
Stories
1
Units
3

Location Insight

City
Sacramento
County
Sacramento
State
California
Latitude
38.576830028708
Longitude
-121.41439011775
650 Howe Ave, Sacramento, California

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650 Howe Ave
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