Retail•Street Retail•For Sale

Value Add Investment 36,017 SF Historic Oddfellows Building

723-729 Main Street, Woodland, California 95695

Sale Price $2,795,000
Sale Type Investment
Zoning Downtown Mixed Use
Bldg Type Multi-Tenant
Class B
Year Built 1906
Year Renovated 1984
Vacancy 57%
Gross Bldg 36,017 SqFt
Land Area .39 Acres
Ceiling Height 20.0 Ft
Drive In Doors 31
Market Central Woodland
Sub-Market Downtown Commercial
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). Various Lease opportunities: ± 1960-3600 SF within a commercial service multi-tenant complex on 1.83 Acres (79,606 SF) between Fresno and Merced in Madera, CA. Offering a variety of move in ready warehouse spaces within an under-built market on reasonable lease terms. Great visibility, convenient parking & easy access to CA-99 on/off ramps. Many front parking spaces available and excellent existing corner signage. Suites offer multiple configurations and are setup to have a office/showroom, shop, and fenced yard area. Spaces equipped w/ ample power, roll up doors, restrooms, sky lights, air vents, evap coolers, heaters, security, separate meters, and have the ability to be combined. 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.
  • TEEN Cash-on-Cash Returns After Stabilized
  • Short Term Leases Offering Significant Value-Add Play
  • Located Within Dedicated Opportunity Zone
  • Long-Term Tenants | Low Turnover | Low Maintenance
  • ±36,017SF On ±0.393 Acres w/ 16 Dedicated Parking
  • Cash Cow To Produce $417K In Rents Month 12!
  • National Register of Historic Places - Well Maintained Building
  • Long Term Tenants w/ Upside Potential Via Leasing
  • Easy Access To All Floors Via Elevator
  • Low Maintenance, Well Maintained, and Economical Spaces
  • Easy Access to Interstate 5 On/Off Ramps
  • Excellent Downtown Location – Prime Main St Exposure
  • Ample Parking, Quality Tenants, & Great Exposure
  • Ethernet/Phone Connections & High Speed Internet Ready
  • ±1960-3600 SF Available: 4 Units with Multiple Configurations
  • Large Complex On ±1.83 Acres w/ Ample Yard Area
  • Well Maintained Buildings | Functional Warehouse Spaces
  • Easy Access from Surrounding Major Corridors
  • Easy Access to Highway 99 On/Off Ramps
  • Excellent Existing Signage On 3 City Street Corners
  • Shop with Roll Up Doors + Yard Area
  • Building Equipped w/ Evaporative Coolers & Heaters
  • Flexible Zoning That Allows Many Uses - Large Parking Area
  • Great Signage & Exposure
  • Frontage on North "E" Street
10/29/2019 8:41:49 PM 1/20/2020 6:08:17 PM
Jared Ennis
Senior Commercial Associate
KW Commercial | Central California
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