• 723-729 Main Street, Woodland, CA 95695

For Sale

Retail

For Sale

This property is available for sale
0.39
Acres
$2,795,000
Sale Price
  • Year Built
    1906
  • Total Building Size
    36,017 RSF
  • Overview

    Woodland is a quaint city located on Interstate 5 just 15 miles northwest of Sacramento. In the 1950’s it had more millionaires per capita than any city in CA. Construction has begun on a 850-car City-owned parking garage and a 16 screen Edwards muliplex theater across the street. A new Yolo County Courthouse totaling 160K SF was built across the street at a cost of $200 million, adjacent to the County administration buildings. Located at the center of Historic Downtown Woodland on Main Street, north of Lincoln Ave, South of Court Street, west of 3rd Street and east of 1st Street. The Sacramento International Airport is only 10.8 miles away. There are many Local and National tenants near by including: The Woodland Opera House, Subway, Cookie Company, Morgan's On Main, The Burger Saloon, The Burger Saloon, Savory Café, Osaka Sushi Japanese Restaurant, House Of Shah Afghan Urban Eats, Pupuseria La Chicana, Las Brasas, Father Paddy's, Guinevere's Café and Bistro, Thai Pepper, Chickpeas Kitchen, El Charro Mexican Restaurant, Mojo's Lounge & Bar, Maria's Cantina, Rafael's Family Restaurant, Bangkok Cuisine, Steve's Pizza, Vince's Mexican Restaurant, Timothy's Bakery, Blue Wing Art Gallery & Framing, Teal Networks, Liberty Tax Service, Woodland Chamber of Commerce, Wirth Furniture & Interiors, The Stag, USA Tires, Wells Fargo Bank, Sord Boards, Superior Court House, Jack in the Box, 7-Eleven, Woodlands Police Dept, Dutch Bros, Ace Hardware, State Theatre & Multiplex and Many More! Woodland is the county seat of Yolo County, located in California's Central Valley. Woodland is located 20 miles northwest of Sacramento at the intersection of Interstate 5 and State Route 113. To the south is the City of Davis, with its University of California Campus. Bank-owned opportunity: ±36,017 SF 4-level multi-tenant office/retail building on ±0.393 Acres. Offers (24) economical separate office spaces leased to long-term tenants on full-service leases, (23) 8’ x 8’ storage units, and (16) rentable parking stalls. Value-add opportunity with actual rents of $211,416/yr and parking of $9,000/yr (total of $220,416/yr collected) plus upside potential. Unique investment offering easy-to-rent spaces within an under-built market offering a strong need for hard-to-find small spaces. Once stabilized, the deal offers TEEN cash-on-cash returns when leveraged. Great visibility, convenient parking & easy access. Building was extensively remodeled in 1977 and again in 1984 when it was earthquake retrofitted. Configurations range from 180 SF up to 2,990 SF. Existing tenants include Bella Bean Coffeehouse & Eatery, computer business’, commercial network services, hair salon, legal offices, catering, mortgage lending, and a driving school, among others. Long-term tenancy in place; as an example, Craig, Dean, and Steve have occupied spaces for 32, 27, and 15 years, respectively. Breakdown is (6) basement, (8) ground floor, (6) 2nd floor, (4) 3rd floor units. Rental values for the spaces are $0.85/SF for basement, $1.75/SF for 1st floor, $1.25/SF for large unit (#303), $1.65/SF for window units (#227-232), and $1.50/SF for all remaining 2nd/3rd floor. (10) Parking stall are rented for $75/month (#007, 100, 101, 201, 216, 220, 224, 301, 310, 723). Storage units are rented for $40/unit, except for #B, D, I, J, W which occupy for free. Value-add opportunity consists leasing the vacancies of (10) offices ($186,228/yr), (6) parking stalls ($5,400/yr) and (11) storages ($5,280) producing a realistic 6-12 month stabilized gross annual income of $417,324/yr (189% increase). Further rent growth of experiencing the existing built-in rent increases (#007, 012, 102, 213, 215, 218, 222, 223, 226, 230, 721, 723, 729), increasing under-market offices(#009, 201, 220, 221, 228, 229, 232, 310) & storage units to the same price/SF already achieved, and addressing unpaid storage units provide rents of $429,540.60/yr and parking of $14,400/yr the following year = $458,340.60 potential gross income (another 9.88% increase).

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Property Details

Value Add Investment: 36,017 SF Historic Oddfellows Building

Woodland is a quaint city located on Interstate 5 just 15 miles northwest of Sacramento. In the 1950’s it had more millionaires per capita than any city in CA. Construction has begun on a 850-car City-owned parking garage and a 16 screen Edwards muliplex theater across the street. A new Yolo County Courthouse totaling 160K SF was built across the street at a cost of $200 million, adjacent to the County administration buildings. Located at the center of Historic Downtown Woodland on Main Street, north of Lincoln Ave, South of Court Street, west of 3rd Street and east of 1st Street. The Sacramento International Airport is only 10.8 miles away. There are many Local and National tenants near by including: The Woodland Opera House, Subway, Cookie Company, Morgan's On Main, The Burger Saloon, The Burger Saloon, Savory Café, Osaka Sushi Japanese Restaurant, House Of Shah Afghan Urban Eats, Pupuseria La Chicana, Las Brasas, Father Paddy's, Guinevere's Café and Bistro, Thai Pepper, Chickpeas Kitchen, El Charro Mexican Restaurant, Mojo's Lounge & Bar, Maria's Cantina, Rafael's Family Restaurant, Bangkok Cuisine, Steve's Pizza, Vince's Mexican Restaurant, Timothy's Bakery, Blue Wing Art Gallery & Framing, Teal Networks, Liberty Tax Service, Woodland Chamber of Commerce, Wirth Furniture & Interiors, The Stag, USA Tires, Wells Fargo Bank, Sord Boards, Superior Court House, Jack in the Box, 7-Eleven, Woodlands Police Dept, Dutch Bros, Ace Hardware, State Theatre & Multiplex and Many More! Woodland is the county seat of Yolo County, located in California's Central Valley. Woodland is located 20 miles northwest of Sacramento at the intersection of Interstate 5 and State Route 113. To the south is the City of Davis, with its University of California Campus. Bank-owned opportunity: ±36,017 SF 4-level multi-tenant office/retail building on ±0.393 Acres. Offers (24) economical separate office spaces leased to long-term tenants on full-service leases, (23) 8’ x 8’ storage units, and (16) rentable parking stalls. Value-add opportunity with actual rents of $211,416/yr and parking of $9,000/yr (total of $220,416/yr collected) plus upside potential. Unique investment offering easy-to-rent spaces within an under-built market offering a strong need for hard-to-find small spaces. Once stabilized, the deal offers TEEN cash-on-cash returns when leveraged. Great visibility, convenient parking & easy access. Building was extensively remodeled in 1977 and again in 1984 when it was earthquake retrofitted. Configurations range from 180 SF up to 2,990 SF. Existing tenants include Bella Bean Coffeehouse & Eatery, computer business’, commercial network services, hair salon, legal offices, catering, mortgage lending, and a driving school, among others. Long-term tenancy in place; as an example, Craig, Dean, and Steve have occupied spaces for 32, 27, and 15 years, respectively. Breakdown is (6) basement, (8) ground floor, (6) 2nd floor, (4) 3rd floor units. Rental values for the spaces are $0.85/SF for basement, $1.75/SF for 1st floor, $1.25/SF for large unit (#303), $1.65/SF for window units (#227-232), and $1.50/SF for all remaining 2nd/3rd floor. (10) Parking stall are rented for $75/month (#007, 100, 101, 201, 216, 220, 224, 301, 310, 723). Storage units are rented for $40/unit, except for #B, D, I, J, W which occupy for free. Value-add opportunity consists leasing the vacancies of (10) offices ($186,228/yr), (6) parking stalls ($5,400/yr) and (11) storages ($5,280) producing a realistic 6-12 month stabilized gross annual income of $417,324/yr (189% increase). Further rent growth of experiencing the existing built-in rent increases (#007, 012, 102, 213, 215, 218, 222, 223, 226, 230, 721, 723, 729), increasing under-market offices(#009, 201, 220, 221, 228, 229, 232, 310) & storage units to the same price/SF already achieved, and addressing unpaid storage units provide rents of $429,540.60/yr and parking of $14,400/yr the following year = $458,340.60 potential gross income (another 9.88% increase).

  • Property Type
    Retail
  • Year Built
    1906
  • Sale Price
    $2,795,000
  • Total Building Size
    36,017RSF
  • Total Acres
    0.39
  • Building Class
    B
  • Sale Status
    Available
  • Last updated
    Jul 21, 2020
  • Property ID
    2114783

Landlord's Sales Representatives

  • Kevin Land
    KW Commercial Central California
     
  • Jared Ennis
    KW Commercial Central California