Source: Marcus & Millichap, 5/1/15 to 6/30/16 2.2 ACRES OF ......Source: Marcus & Millichap, 5/1/15...
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Offering Memorandum Source: Marcus & Millichap, 5/1/15 to 6/30/16 (916) 724-1363 [email protected] www.tonydeloney.com First Vice President Investments Tony DeLoney 2.2 ACRES OF VACANT LAND DEVELOPMENT OPPORTUNITY 9545 Folsom Boulevard • Sacramento, CA 95827
Transcript of Source: Marcus & Millichap, 5/1/15 to 6/30/16 2.2 ACRES OF ......Source: Marcus & Millichap, 5/1/15...
Offering Memorandum
Source: Marcus & Millichap, 5/1/15 to 6/30/16
(916) [email protected]
www.tonydeloney.com
First Vice President Investments
Tony DeLoney2.2 ACRES OF VACANT LAND
DEVELOPMENT OPPORTUNITY9545 Folsom Boulevard • Sacramento, CA 95827
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 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 and should 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, unverified information 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 due diligence
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, the future 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 or asbestos, 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 any tenant'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 be reliable; however, Marcus & Millichap has not verified, and will not
verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding
these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the
information provided. All potential buyers must take appropriate measures to verify all of the information set forth
herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017
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 or name 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.
2.2 ACRE VACANT LAND
Sacramento, CA
ACT ID Y0030416
2
TABLE OF CONTENTS
SECTION
INVESTMENT OVERVIEW 01Summary of Terms
Property Summary
Aerial Photo
MARKET COMPARABLES 02Sales Comparables
2.2 ACRE VACANT LAND
2.2 ACRE VACANT LAND
4
INVESTMENT
OVERVIEW
2.2 ACRE VACANT LAND
#
SUMMARY OF TERMS
OFFERING SUMMARY
5
Terms of the SaleFee simple interest of 9545 Folsom Boulevard is offered for sale. Offers will
be presented as they are received.
Property ToursProspective buyers are encouraged to visit the subject property prior to
submitting offers. All property tours must be arranged with the Marcus &
Millichap listing agent. Please do not contact the tenants, on-site
management or staff without proper approval.
The OfferingPrice $217,000Price/Acre $98,636Price/SF $2.26Allowable Buildable SF
95,931
Number of Lots 2Lot Size (Acres) 2.2 AcresLot Size (SF) 95,832Assessors Parcel Number
075-0040-040 and 075-0040-025
Zoning Commercial
Interest Offered100 percent fee simple interest, in this two lot parcel totaling 95,832 vacant
square-feet located at 9545 Folsom Boulevard, Sacramento California
95827.
Due Diligence and ClosingThe timeline for the buyer’s due diligence and closing will be a consideration
in the buyer selection process. All appropriate information will be made
available at that time. It is the buyer’s responsibility to independently confirm
all of the information contained herein. All costs and expenses incurred by
the buyer will be the sole responsibility of the buyer.
2.2 ACRE VACANT LAND
PROPERTY SUMMARY
OFFERING SUMMARY
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▪ Rare Development Opportunity Near
California Franchise Tax Board
Headquarters
▪ Two Parcels with Folsom Boulevard
Access, Partially Paved
▪ Currently Commercial Zoning with
Residential Homes Behind
▪ Mini-Storage Construction Potential
▪ Site Ideal for a Tuck-Behind Multi Family
Development
▪ On North Side of Folsom Boulevard, Near
American River Parkway
INVESTMENT HIGHLIGHTSThe 2.2 Acre property is well-located in Sacramento County in a communityjust across the street from the State Headquarters of the California FranchiseTax Board. The two subject vacant lots are tucked behind a commercialcenter, and have a partially paved road connecting them to the historic arteryfor this area, Folsom Boulevard.
The current property is zoned commercial and has two parcels. Parcel # 075-0040-040 is approximately 0.93 acres, wrapping behind, but not including thecommercial property located at 9545 Folsom Boulevard, and extends towardsFolsom Boulevard with partially paved access and street frontage. Parcel #075-0040-025 is also zoned commercial and is approximately 1.27 acres,contained in the north corner from Folsom Boulevard, with residential housingto its north.
The site could be used as a mini-storage site, or alternatively high-residentialhousing to help satisfy the high demand for housing in the Sacramento region.
Seller will consider a carryback or junior position in order to facilitate sale.
MAJOR EMPLOYERS
EMPLOYER # OF EMPLOYEES *
Resource Staffing Group 4,785
Califrnia Govt Operations Agcy 2,000
Region 1 Parole Division 2,000
University Enterprises Inc 1,856
C V S Optical Lab Div 1,600
Sutter Hlth Scrmnto Sierra Reg 1,265
Pacific Dental Services Inc 1,236
Franklin Templeton Investment 1,200
Mercy Methodist Hospital 1,026
Delta Dental Plan 1,000
Eskaton Village Care Center 1,000
HP Enterprise Services LLC 1,000
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles
2016 Estimate Pop 11,756 109,474 247,023
2016 Census Pop 11,204 104,133 234,214
2016 Estimate HH 4,408 42,514 101,537
2016 Census HH 4,221 40,482 96,256
Median HH Income
$62,213 $57,305 $50,380
Per Capita Income $30,418 $32,441 $30,539
Average HH Income
$80,693 $83,145 $73,578
REGIONAL MAP
2.2 ACRE VACANT LAND
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LOCAL MAP
2.2 ACRE VACANT LAND
8
AERIAL PHOTO
2.2 ACRE VACANT LAND
9
2.2 ACRE VACANT LAND
10
MARKET
COMPARABLES
2.2 ACRE VACANT LAND
SALES COMPARABLES MAP
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2.2 ACRE VACANT LAND
(SUBJECT)
9425 Folsom Blvd
9989 Folsom Blvd
SALES COMPARABLES
1
2
12
PROPERTY NAME2.2 ACRE VACANT LAND
SALES COMPARABLES
$0.00
$0.30
$0.60
$0.90
$1.20
$1.50
$1.80
$2.10
$2.40
$2.70
$3.00
2.2 Acre
Vacant Land
9425 Folsom
Blvd
9989 Folsom
Blvd
Average Price Per Square Foot
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
2.2 Acre
Vacant Land
9425 Folsom
Blvd
9989 Folsom
Blvd
Average Price Per Acre
SALES COMPARABLES SALES COMPS AVG
PROPERTY NAME
MARKETING TEAM
2.2 ACRE VACANT LAND
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1 rentpropertyaddress1
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SALES COMPARABLES
Asking Price $217,000
Down Payment $217,000
Down Payment % 100%
Price/SF $2.26
Lot Size (Acres) 2.2 acre(s)
Price/Acre $98,636
2.2 ACRE VACANT LAND9545 Folsom Boulevard, Sacramento, CA, 95827
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Close of Escrow 3/22/2017
Sales Price $1,520,000
Price/SF $2.38
Lot Size (Acres) 14.65
Price/Acre $103,754
9425 FOLSOM BLVD9425 Folsom Blvd, Sacramento, CA, 95827
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Close of Escrow 12/22/2016
Sales Price $650,000
Price/SF $21.83
Lot Size (Acres) 0.69
Price/Acre $942,028
9989 FOLSOM BLVD9989 Folsom Blvd, Sacramento, CA, 95827
www.MarcusMillichap.com
Tony DeLoney
First Vice President Investments
Director - National Multi Housing Group
Sacramento Office
Tel: (916) 724-1363
Fax: (916) 724-1410
License: CA 01920427
P R E S E N T E D B Y
