5839 Manzanita Ave
Carmichael, CA 95608
The Corner Shopping Center · Retail Property For Sale

The Corner Retail Center is in today's market a rare Value-Add Opportunity to acquire a Renovated and well located property that has undergone significant capital improvements plus generates $17,827 in monthly Gross Income with potential for an 8.78% Cap Rate. The only thing remaining is for a new owner to lease up the remaining 5 vacant spaces with basic tenant improvements."The Corner" is a Renovated 20,934 SF multi-tenant Neighborhood Retail Center located on a high visibility corner of Manzanita and Auburn Blvd. The Corner is comprised of 14 Suites with ideal rectangular floor plans ranging in size from 1,050 - 2,000 SF. The Corner features long-term tenants such as Granite's Wings & Subs, Sanghera's House of Liquor, Classy Nails, plus Gifts & Smoke 4 Less that have leased at the property for several years and many of them have signed extension renewals along with rent increases. There are (3) newly signed Tenants at rates of $1-$1.15 PSF + $0.25 PSF in CAM Charges totaling $1.25 - $1.40 PSF which is the current asking rates to all of the suites. The Corner has undergone significant renovations which include an updated Roof, over-layed and striped Parking Lot for 100 spaces, recently painted, LED Common Area Lighting, and Security Cameras. "The Corner Retail Center" is located on the highly trafficked corner of Manzanita Ave. and Auburn Blvd. with 3 Way Controlled Traffic Lights, which generates +/- 30,000 Average Daily Traffic counts (ADT). The Corner has ingress/egress from both Auburn Blvd. and Manzanita Avenue. Also, there's a significant amount of residential housing off of Manzanita in need of quality retail services.