corner lot with highway visibility - loopnet · composed of four counties : sacramento, el dorado,...

Offering Memorandum

3131 W StreetAlso Available

3131 W Street

CORNER LOT WITH HIGHWAY VISIBILITYCORNER LOT WITH HIGHWAY VISIBILITYCORNER LOT WITH HIGHWAY VISIBILITYCORNER LOT WITH HIGHWAY VISIBILITY3131 3131 -- 3141 W Street • Sacramento, CA 958173141 W Street • Sacramento, CA 95817

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C EN O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap andshould not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedshould not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedinformation to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, thefuture projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's orasbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or anytenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to bereliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding thesematters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures toverify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo orname is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

CORNER LOT WITH HIGHWAY VISIBILITYSacramento, CAACT ID ZAA0030377

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CORNER LOT WITH HIGHWAY VISIBILITY

INVESTMENT

OVERVIEWOVERVIEW

3

EXECUTIVE SUMMARYOFFERING SUMMARY

CORNER LOT WITH HIGHWAY VISIBILITYCORNER LOT WITH HIGHWAY VISIBILITY

OFFERING SUMMARY

OFFERING SUMMARY

Price $450,000

EXECUTIVE SUMMARY

Loan Type All Cash

Lot Size (SF) 14,810

Price/SF $30.38Price/SF $30.38

Lot Size (Acres) 0.34 acre(s)

Price/Acre $1,323,565

Number of Lots 2

Type of Ownership Fee Simple

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OFFERING SUMMARYINVESTMENT OVERVIEW

Marcus & Millichap is pleased to exclusively market for sale a total of two parcels of approximately 14,810 square-feet of prime

vacant land in the City of Sacramento. 3131 W Street is about 9,583 square feet and 3141 W Street is about 5,227 square feet.

INVESTMENT OVERVIEW

This is a very rare opportunity to own and develop two contiguous lots with adjacent highway visibility.

3131 - 3141 W Street is priced to sell for about $30.38 per square foot. Recent comparable sales are at the average of about

$45.27 per square foot and current comparable listings are about $62.86 per square foot all with much smaller development

opportunities. The lots have an R-4 residential zoning.

Also availalble is a single family home of about 846 square feet on a lot size of 3,920 square feet at 2236 32nd Street asking

INVESTMENT HIGHLIGHTS

Also availalble is a single family home of about 846 square feet on a lot size of 3,920 square feet at 2236 32 Street asking

$375,000.

Prime Location with Highway Visibility

Utilities on Site

Close to All Major Amenities including Hospitals,

INVESTMENT HIGHLIGHTS

Close to All Major Amenities including Hospitals, Schools, and Major Grocery Stores

Easy Freeway Access

Priced to Sell for Only $30.38 per SF!

Plans & Reports Available Upon Request

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SITE PLAN


6

REGIONAL MAP


7

LOCAL MAP


8

AERIAL PHOTO


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2529-B 28TH STREET 3241 W STREET3255 W STREET2529-B 28TH STREET 3241 W STREET3255 W STREET

MARKET

2710 TOMATO ALY2525 28TH STREET3100 2ND AVENUE

MARKET

COMPARABLES

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SALES COMPARABLES MAP

CORNER LOT WITH HIGHWAY VISIBILITY(SUBJECT)

2525 28th Street

2710 Tomato Aly

2529-B 28th Street

1

2

3 2529-B 28th Street

3100 2nd Avenue

3241 W Street

3255 W Street

3

4

5

6

SALES COMPARABLES

ON MARKET COMPARABLES

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PROPERTY NAMECORNER LOT WITH HIGHWAY VISIBILITY

SALES COMPARABLESSALES COMPARABLES SALES COMPS AVG

Average Price Per Square Foot

SALES COMPARABLES


SALES COMPS AVG

ON MARKET COMPS AVG

Avg. $62.86

$52.00

$58.50

$65.00

Avg. $45.27

$39.00

$45.50

$52.00

$19.50

$26.00

$32.50

$6.50

$13.00

$19.50

$0.003131 - 3141

W Street2525 28th

Street2710

Tomato Aly2529-B 28th

Street3100 2ndAvenue

3241 WStreet

3255 WStreet

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PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

SALES COMPARABLES ON MARKET COMPARABLES

3131 - 3141 W STREET3131 - 3141 W Street, Sacramento, CA, 95817

2525 28TH STREET2525 28th Street, Sacramento, CA, 95818

2710 TOMATO ALY2710 Tomato Aly, Sacramento, CA, 95818

3131 - 3141 W Street, Sacramento, CA, 958171 2

rentpropertyname1 rentpropertyname1 rentpropertyname1

Asking Price $450,000

Zoning R-4

Lot Size 14,810 SF

Price/SF $30.38

Close of Escrow 1/23/2019

Sales Price $210,000

Zoning R-4

Lot Size 5,911 SF

Price/SF $35.53



Zoning R-3A-S

Lot Size 3,223 SF

Price/SF $51.19

rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1

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PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES


2529-B 28TH STREET2529-B 28th Street, Sacramento, CA, 95818

3100 2ND AVENUE3100 2nd Avenue, Sacramento, CA, 95817

3241 W STREET3241 W Street, Sacramento, CA, 95817

3 4 5




Zoning R-4

Lot Size 2,918

Price/SF $45.23



Zoning R-2B

Lot Size 4,792

Price/SF $49.04

On Market

List Price $200,000

Zoning R-4

Lot Size 3,206 SF

Price/SF $62.38


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PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES


3255 W STREET3255 W Street, Sacramento, CA, 95817

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On Market

List Price $200,000

Zoning R-4

Lot Size 3,160

Price/SF $63.29


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MARKET

OVERVIEWOVERVIEW

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MARKET OVERVIEW

SACRAMENTOMARKET OVERVIEW


SACRAMENTOOVERVIEW

The Sacramento-Roseville-Arden-Arcade metro is located in themiddle of the 400-mile-long Central Valley of California and ismiddle of the 400-mile-long Central Valley of California and iscomposed of four counties: Sacramento, El Dorado, Placer and Yolo.It contains nearly 2.3 million people and unlike the nearby SanFrancisco Bay Area, Sacramento is seismically quiet.

Sacramento, home of the state capitol, is the most populous city, withapproximately 498,000 residents, followed by Elk Grove and Rosevilleapproximately 498,000 residents, followed by Elk Grove and Rosevillewith 168,000 and 133,000, respectively. During the next five years, amore affordable cost of living and infill redevelopment projects willhelp draw businesses and residents to the area.

METRO HIGHLIGHTSMETRO HIGHLIGHTS

SOLID JOB CREATIONLower costs than nearby metros attract businesses and drive job creation above the U.S. level. Many and drive job creation above the U.S. level. Many commuters into the Bay Area also reside in the area.

POPULATION GROWTHEmployment opportunities and redevelopment efforts will contribute to Sacramento’s population efforts will contribute to Sacramento’s population growth being above the national average.

LOW COST OF LIVINGSacramento’s median home price is more affordable than many other nearby California

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affordable than many other nearby California metros.

MARKET OVERVIEW


ECONOMY Sacramento is home to the state capitol, making the government sector important to the

region’s economy, though less so than in the past as the economy diversifies. Sacramento’s seismic stability and low business costs compared with the region attract Sacramento’s seismic stability and low business costs compared with the region attract

major corporations seeking to establish operations. Among these are Intel Corp., Apple Computer and Siemens Mobility.

DHL and United Parcel Service use the former Mather Air Force Base to ship freight. The former McClellan Air Force Base is now an industrial park and includes tenants such as Northrop Grumman and J.C. Penney.

MAJOR AREA EMPLOYERSMAJOR AREA EMPLOYERS

California State University Sacramento

Sutter Health

Kaiser Permanente

Raley’s Inc.

Intel Corp.Intel Corp.

Catholic Healthcare West/ Mercy Healthcare

University of California Davis

UC Davis Medical Center

GenCorp

Wells Fargo * Forecast

SHARE OF 2018 TOTAL EMPLOYMENT

Wells Fargo * Forecast

4% 13% 25% 11% 5%MANUFACTURING

4%GOVERNMENT

EDUCATION AND

+OTHER SERVICES

3%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

16%TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL ANDBUSINESS SERVICES

1%INFORMATION

13%

6%

25% 11% 5%

16%

2

HEALTH SERVICESEDUCATION AND OTHER SERVICES

316AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION1

INFORMATION6 16

MARKET OVERVIEW


DEMOGRAPHICS

SPORTS The metro is expected to add nearly 162,000 people over the next five years, resulting in the formation of nearly 70,000 households.

A median home price well above the national median has produced a A median home price well above the national median has produced a homeownership rate of 59 percent, compared with the national rate of 64 percent.

Among residents age 25 and older, 31 percent hold bachelor’s degrees and 11 percent also have a graduate or professional degree.

2018 Population by Age

6 20 7 27 26 15

EDUCATION0-4 YEARS

6%5-19 YEARS

20%20-24 YEARS

7%25-44 YEARS

27%45-64 YEARS

26%65+ YEARS

15%

2018MEDIAN AGE:

2018 MEDIAN HOUSEHOLD INCOME:

2018POPULATION:

2018HOUSEHOLDS:

QUALITY OF LIFE

37.42018

MEDIAN AGE:

U.S. Median:

38.0

$64,7002018 MEDIAN

HOUSEHOLD INCOME:

U.S. Median:

$58,800

2.3M2018

POPULATION:

Growth2018-2023*:

7.0%

850K2018

HOUSEHOLDS:

8.2%

Growth2018-2023*:

ARTS & ENTERTAINMENTResidents and visitors to Sacramento can enjoy many recreational activities. The region is

home to professional sports teams such as the Kings (NBA), Republic FC, Sirens (IWFL)

and the River Cats. A short drive away is some of the world’s finest wine-producing

regions: the Napa, Sonoma and Alexander valleys. Sacramento is also just a short

distance from Lake Tahoe and it’s popular ski resorts. The area offers various cultural

QUALITY OF LIFE

distance from Lake Tahoe and it’s popular ski resorts. The area offers various cultural

opportunities including the ballet, opera, museums, a zoo and music festivals. In addition

to four community colleges, there are two universities located in the region: California

State University, Sacramento, and University of California, Davis. Housing is relatively

affordable in the metro compared with the Bay Area, drawing many residents and

businesses.* Forecast

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Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS

PopulationIn 2018, the population in your selected geography is 21,237. Thepopulation has changed by -2.36% since 2000. It is estimated thatthe population in your area will be 21,023.00 five years from now,

Race and EthnicityThe current year racial makeup of your selected area is as follows:64.68% White, 10.83% Black, 0.28% Native American and 7.51%Asian/Pacific Islander. Compare these to US averages which are:the population in your area will be 21,023.00 five years from now,

which represents a change of -1.01% from the current year. Thecurrent population is 48.51% male and 51.49% female. The medianage of the population in your area is 35.55, compare this to the USaverage which is 37.95. The population density in your area is6,752.18 people per square mile.

Asian/Pacific Islander. Compare these to US averages which are:70.20% White, 12.89% Black, 0.19% Native American and 5.59%Asian/Pacific Islander. People of Hispanic origin are countedindependently of race.

People of Hispanic origin make up 21.01% of the current yearpopulation in your selected area. Compare this to the US average of18.01%.

HouseholdsThere are currently 10,760 households in your selected geography.The number of households has changed by 4.12% since 2000. It isestimated that the number of households in your area will be 10,777

18.01%.

HousingThe median housing value in your area was $362,388 in 2018,compare this to the US average of $201,842. In 2000, there were3,538 owner occupied housing units in your area and there were

Income

estimated that the number of households in your area will be 10,777five years from now, which represents a change of 0.16% from thecurrent year. The average household size in your area is 1.93 persons.

Employment

3,538 owner occupied housing units in your area and there were6,797 renter occupied housing units in your area. The median rent atthe time was $466.

IncomeIn 2018, the median household income for your selected geography is$49,362, compare this to the US average which is currently $58,754.The median household income for your area has changed by 58.67%since 2000. It is estimated that the median household income in yourarea will be $59,541 five years from now, which represents a changeof 20.62% from the current year.

EmploymentIn 2018, there are 22,246 employees in your selected area, this is alsoknown as the daytime population. The 2000 Census revealed that70.71% of employees are employed in white-collar occupations inthis geography, and 29.35% are employed in blue-collar occupations.In 2018, unemployment in this area is 5.73%. In 2000, the averagetime traveled to work was 21.00 minutes.of 20.62% from the current year.

The current year per capita income in your area is $39,647, comparethis to the US average, which is $32,356. The current year averagehousehold income in your area is $77,583, compare this to the USaverage which is $84,609.

time traveled to work was 21.00 minutes.

Source: © 2018 Experian

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corner lot with highway visibility - loopnet · composed of four counties : sacramento, el dorado,...

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