2009 N Street

Closed Deal
2009 N Street, Sacramento, CA 95811
Midtown
Use Multifamily / Retail / Office /
Lease or Sale Sale,
Building Size ±5,900 SF
Sale Price $1,745,000

Very unique, single-tenant NNN investment opportunity in the heart of Midtown! Property is comprised of two structures on the same parcel: i) a 3,700 SF, three-story duplex located off N Street; and ii) a 2,200 SF repurposed shipping container restaurant located off Matsui Alley. Entire property, including both residential units and the shipping container restaurant, is master leased to Federalist Public House, a popular restaurant/bar that has occupied the property since 2014. Lease is triple net, with the Tenant paying for all operating expenses and maintenance/repair to the property (except for the duplex roof). New five-year lease with large annual increases signed in Q4 2020 and expiring January 2026. Current monthly rent is $8,000/NNN, which equates to a 5.5% capitalization rate on actual income. Rent increases to $8,750/NNN in year 3, $9,250/NNN in year 4, and $9,750/NNN in year 5. Seller recently completed approx. $100k of section 1&2 pest work.

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