Property Type: Retail
Building SF: 19,313 SF
Address: 120 Gateway Drive, Lincoln, CA 95648
Price: $4,200,000
Cap Rate: 5.2%
Year Built: 2009
• Located directly off of Highway 65
• Part of a multi-building business park with terrific synergy
• First class architecture
• Both Tenants have occupied their space for more than 10 years
• Upside in building out and renting the 3,000 square foot storage space
120 Gateway Drive presents a unique opportunity to own a multi-tenant commercial building in Lincoln, California. Located directly off of Highway 65 and Lincoln Blvd, The property is part of an eight building business park all with a very similar, upscale architectural style. The synergy amongst all of the business park tenant’s as well as a lack of there being any vacancy in the area has proven that significant consumer spending occurs within this area. The building is being offered for sale at $4,200,000. This equals $217 per square foot (which is significantly below replacement costs). There is a vacant 3,000 square foot space that has never been built-out and has always been used as storage. This particular space could easily be rented if a store front was installed along with a vanilla shell finish within the interior portion. Current market rents in surrounding retail centers suggest that this space would rent for $2.50 per square foot or more.