2288 Auburn Blvd

Marcus & Millichap, as the exclusive advisor, presents the opportunity to acquire the 100% fee simple interest in 2288 Auburn Blvd, (the “Property”) a 54,069 SF, two-story medical office building located in Sacramento’s Arden-Arcade neighborhood. Originally constructed in 1990, 2288 Auburn represents a rare opportunity to acquire an institutional quality MOB with premier freeway visibility to over 140,000 vehicles per day. At 83% leased with 6.0 years remaining average lease term (WALT), the Property offers durable in-place cash flow while providing an investor the opportunity to substantially increase NOI through multiple value-add strategies.

Located between downtown Sacramento, the Sacramento Airport, and the affluent Roseville/Rocklin community, 2288 Auburn’s location boasts unrivaled access and transportation advantages, conveniently linking the Property to the city center and the suburbs. With over $800,000 of capital invested since 2016, ownership has  meticulously maintained the property, modernizing building systems and aesthetically improving the common areas. Along with its location and high quality amenity offerings, 2288 offers investors the opportunity to create value through strategic lease up of the remaining 8,865 SF, marking current tenants to market, collecting market Base Year Reimbursements, and increasing the rentable square footage to BOMA measurements upon tenants’ expirations. 

Highlights

Price - $12,000,000

Price per SF - $222

Occupancy - 82.9%

Cap Rate Year 3 - 8.64%

WALT - 6.0 Years

5 Year Levered IRR - 19.16%