Description
Greenback Corners is a fully leased Sacramento retail property at Garfield Avenue and Greenback Lane, offered through CBRE at $6,295,000. Approximately 17,295 square feet of improvements support a mix of food and service tenants. The offering indicates pricing of $364 per square foot and a first-year cap rate of 7.33%.
Most leases pass occupancy expenses to tenants; the United States of America suite, representing 12.5% of the space, is the stated exception. Some existing rents are described as below market, giving buyers a basis for reviewing future lease adjustments. The site is across from the Greenback Lane Interstate 80 on-ramp and near Citrus Heights. Reported daily traffic is 29,354 vehicles on Garfield Avenue and 57,453 on Greenback Lane. Confirm the rent roll, expense obligations and assumptions supporting the projected yield.
