34
2420 BUTANO DR Sacramento, CA Offering Memorandum Parking Surface Digitally Enhanced
2420 BUTANO DR Sacramento, CA
Offering Memorandum
Parking Surface Digitally Enhanced
N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. Non-Endorsement Notice Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. 2420 BUTANO DR Sacramento, CA ACT ID Y0380364
TABLE OF CONTENTS
SECTION
INVESTMENT OVERVIEW 01 Offering Summary Regional Map Local Map
Aerial Photo
FINANCIAL ANALYSIS 02 Pro Forma Operating Statement
MARKET COMPARABLES 03 Sales Comparables
Lease Comparables
MARKET OVERVIEW 04 Market Analysis
Demographic Analysis
2420 BUTANO DR
2420 BUTANO DR
4
INVESTMENT
OVERVIEW
2420 BUTANO DR
#
EXECUTIVE SUMMARY
OFFERING SUMMARY
VITAL DATA
PROFORMA
Price $900,000 CAP Rate 8.50%
Down Payment 100% / $900,000 Net Operating Income $76,523
Loan Type All Cash Net Cash Flow After Debt Service 8.50% / $76,523
Gross Leasable Area (GLA) 4,864 SF Total Return 8.50% / $76,523
Price/SF $185.03
Current Occupancy 0%
Year Built / Renovated 2005
Lot Size 0.68 acre(s)
5
MAJOR TENANTS
TENANT GLA LEASE EXPIRATION LEASE TYPE
Vacant 2,014 TBD NNN
Vacant 2,850 TBD NNN
Marcus & Millichap is pleased to present this
modern free-standing multi-tenant retail
building located in one of the busiest markets in
Sacramento, California. Constructed in 2005,
this +/-4,864-square-foot single-story building
on +/-.68 acres of land has great curb appeal
and is perfect for an owner/user interested in all
or part. The property is currently vacant.
The building is an outparcel to the Country Club
Plaza Mall located at the Southeast corner of
Watt Avenue and El Camino, a 60,000+ cars per
day intersection. This 315,588 square-foot mall
includes a brand new WinCo Foods, Cinema
West Movie Theater, Planet Fitness and many
others providing easy and excellent access to
all sorts of shopping and eateries. There is a
great combination of high end homes and
density from apartment buildings. There are
354,000+ residents and 140,800+ households
within a five mile radius of the property. The
average household income is $73,688 within a
3-mile radius.
INVESTMENT OVERVIEW
2420 BUTANO DR
PROPERTY SUMMARY
OFFERING SUMMARY
THE OFFERING
Price $900,000
Property Address 2420 Butano Dr,Sacramento,CA
Assessors Parcel Number 281-0011-043
Zoning Z00
SITE DESCRIPTION
Number of Stories 1
Year Built/Renovated 2005
Gross Leasable Area 4,864
Ownership Fee Simple
Lot Size 29,700 SF
Parking 53 Spaces
Parking Ratio 10.90 / 1,000 SF
6
Upside Potential Through Lease Up
Potential Owner/User or Investor Opportunity
Well Maintained Modern Building
Outparcel to Country Club Plaza anchored by WinCo, Cinema West & Planet
Fitness
Easy Access to Shopping and Dining
INVESTMENT HIGHLIGHTS
REGIONAL MAP
2420 BUTANO DR
7
LOCAL MAP
2420 BUTANO DR
8
AERIAL PHOTO
2420 BUTANO DR
9
AERIAL PHOTO
2420 BUTANO DR
10
Dense Urban Community and State Capitol of California
2420 BUTANO DR
11
FINANCIAL
ANALYSIS
FINANCIAL ANALYSIS
2420 BUTANO DR
PRO FORMA OPERATING STATEMENT
12
TENANT SUMMARY
*Historical operating expense data for this property is unavailable. This property currently operates as a perimeter mall pad to the Country Club Plaza and will be separated from the mall at Close of Escrow.
ACQUISITION FINANCING
2420 BUTANO DR
13
MARCUS & MILLICHAP CAPITAL CORPORATION CAPABILITIES MMCC—our fully integrated, dedicated financing arm—is committed to providing superior capital market expertise, precisely managed execution, and unparalleled access to capital sources providing the most competitive rates and terms.
We leverage our prominent capital market relationships with commercial banks, life insurance companies, CMBS, private and public debt/equity funds, Fannie Mae, Freddie Mac and HUD to provide our clients with the greatest range of financing options.
Our dedicated, knowledgeable experts understand the challenges of financing and work tirelessly to resolve all potential issues to the benefit of our clients.
National platform operating
within the firm’s brokerage
offices
$5.1 billion total national
volume in 2016
Access to more capital sources than any other firm in the industry
Optimum financing solutions to enhance value
Our ability to enhance buyer pool by expanding finance options
Our ability to enhance seller control
• Through buyer qualification support
• Our ability to manage buyers finance expectations
• Ability to monitor and manage buyer/lender progress, insuring timely, predictable closings
• By relying on a world class set of debt/equity sources and presenting a tightly underwritten credit file
WHY MMCC?
Closed 1,651 debt and equity
financings in 2016
2420 BUTANO DR
14
MARKET
COMPARABLES
8
2420 BUTANO DR
SALES COMPARABLES MAP
15
2420 BUTANO DR (SUBJECT)
2052 Auburn Blvd
2654 Marconi Ave
US Bank
SALES COMPARABLES
IN ESCROW COMPARABLES
1
2
3
PROPERTY NAME
MARKETING TEAM
2420 BUTANO DR
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
16
SALES COMPARABLES IN ESCROW COMPARABLES
Annual Per SF
Income $99,264 $20.41
Expenses $22,741 $4.68
NOI $76,523 $15.73
2420 BUTANO DR 2420 BUTANO DR, SACRAMENTO, CA, 95825
Tenants Lease Type
Asking Price: $900,000 Vacant NNN
Price/SF: $185.03 Vacant NNN
CAP Rate: 8.50%
Year Built: 2005
1
2052 AUBURN BLVD 2052 AUBURN BLVD, SACRAMENTO, CA, 95821
NOTES
Vacant building purchased by a church.
Close Of Escrow: 8/12/2016
Sales Price: $1,275,000
Price/SF: $159.38
Year Built: 1986
2
2654 MARCONI AVE 2654 MARCONI AVE, SACRAMENTO, CA, 95821
NOTES
Retail strip center.
Close Of Escrow: 10/5/2016
Sales Price: $5,400,000
Price/SF: $291.73
CAP Rate: 7.26%
Year Built: 2014
PROPERTY NAME
MARKETING TEAM
2420 BUTANO DR
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
17
SALES COMPARABLES IN ESCROW COMPARABLES
3
US BANK 2460 WATT AVE, SACRAMENTO, CA, 95825
NOTES
Current lease ends in 12/31/2026.
In Escrow
List Price: $5,500,000
Price/SF: $681.54
CAP Rate: 5.00%
Year Built: 1982
8
2420 BUTANO DR
LEASE COMPARABLES
2420 BUTANO DR (SUBJECT)
2151 Fulton Ave
4211 Arden Way
4315 Arden Way
1312 Fulton Ave
3335 Watt Ave
3350 Arden Way
4
7
8
9
11
20
12
14
15
16
17
13
18
10
4
1
2
3
5
6
18
PROPERTY NAME
2420 BUTANO DR
LEASE COMPARABLES
19
AVERAGE RENT PER SQUARE FOOT
Avg. $24
$0
$3
$6
$9
$12
$16
$19
$22
$25
$28
$31
2420 Butano Dr
2151 Fulton Ave
4211 Arden Way
4315 Arden Way
1312 Fulton Ave
3335 Watt Ave
3350 Arden Way
PROPERTY NAME
MARKETING TEAM
2420 BUTANO DR
LEASE COMPARABLES
2420 BUTANO DR
2420 BUTANO DR, SACRAMENTO, CA, 95825
2420 BUTANO DR
2420 BUTANO DR, SACRAMENTO, CA, 95825
2420 BUTANO DR
2420 BUTANO DR, SACRAMENTO, CA, 95825
20
MAJOR TENANTS
Total GLA Available SF Asking Rent/SF
4,864 SF 4,864 SF $18.00 NNN
YEAR BUILT: 2005
2420 BUTANO DR 2420 BUTANO DR, SACRAMENTO, CA, 95825
OCCUPANCY: 77% | YEAR BUILT: 2007
Total GLA Available SF Asking Rent/SF
5,400 SF 1,219 SF $21.00 NNN
2151 FULTON AVE 2151 FULTON AVE, SACRAMENTO, CA, 95825
MAJOR TENANTS
All-Safe Engravers
Star Hair and Nail
All-Safe Locksmiths, Inc.
1
OCCUPANCY: 93% | YEAR BUILT: 1971
Total GLA Available SF Asking Rent/SF
64,469 SF 1,000 SF $24.00 NNN
4211 ARDEN WAY 4211 ARDEN WAY, SACRAMENTO, CA, 95864
MAJOR TENANTS
NewWorld One Hour Cleaners
After School Academy
Barber Joe's
2
PROPERTY NAME
MARKETING TEAM
2420 BUTANO DR
LEASE COMPARABLES
4315 ARDEN WAY
4315 ARDEN WAY, SACRAMENTO, CA, 95864
4315 ARDEN WAY
4315 ARDEN WAY, SACRAMENTO, CA, 95864
4315 ARDEN WAY
4315 ARDEN WAY, SACRAMENTO, CA, 95864
21
OCCUPANCY: 98% | YEAR BUILT: 1955
Total GLA Available SF Asking Rent/SF
80,351 SF 1,355 SF $28.00 NNN
4315 ARDEN WAY 4315 ARDEN WAY, SACRAMENTO, CA, 95864
MAJOR TENANTS
Whole Foods Market
Petco
Leslie's Swimming Pool
Hallmark Cards
Round Table Pizza
3
OCCUPANCY: 90% | YEAR BUILT: 1975
Total GLA Available SF Asking Rent/SF
49,046 SF 5,000 SF $18.00 NNN
1312 FULTON AVE 1312 FULTON AVE, SACRAMENTO, CA, 95825
MAJOR TENANTS
Goodwill
24 Hour Fitness
Jamie's Beauty Supply
4
OCCUPANCY: 68% | YEAR BUILT: 1956
Total GLA Available SF Asking Rent/SF
3,257 SF 1,036 SF $24.00 NNN
3335 WATT AVE 3335 WATT AVE, SACRAMENTO, CA, 95821
MAJOR TENANTS
Fred Loya Insurance
The UPS Store
5
PROPERTY NAME
MARKETING TEAM
2420 BUTANO DR
LEASE COMPARABLES
3350 ARDEN WAY
3350 ARDEN WAY, SACRAMENTO, CA, 95825
3350 ARDEN WAY
3350 ARDEN WAY, SACRAMENTO, CA, 95825
3350 ARDEN WAY
3350 ARDEN WAY, SACRAMENTO, CA, 95825
22
YEAR BUILT: 2017
Total GLA Available SF Asking Rent/SF
4,500 SF 4,500 SF $30.00 NNN
3350 ARDEN WAY 3350 ARDEN WAY, SACRAMENTO, CA, 95825
MAJOR TENANTS
Dollar Tree
CVS Pharmacy
OSH Hardware
6
2420 BUTANO DR
23
MARKET
OVERVIEW
MARKET OVERVIEW
Sacramento-Roseville-Arden-Arcade Metro
Market Highlights
Solid levels of job creation Lower costs than nearby metros attract businesses, driving job creation higher
than the U.S. level.
Strong population growth Employment opportunities and redevelopment efforts will contribute to pushing
Sacramento’s population growth above the national average.
Relatively low cost of living Sacramento’s median home price is more affordable than other California metros.
SACRAMENTO
The Sacramento-Roseville-Arden-Arcade metro is composed of four counties
located in the middle of the 400-mile-long Central Valley. The northern part of the
Valley has been developed as a fertile agricultural region. The foothills of the Sierra
Nevada Mountains are located to the east, and the Sacramento and American rivers
traverse the region. Sacramento is flat grassland subject to seasonal flooding. Unlike
the nearby San Francisco Bay Area, Sacramento is seismically quiet.
Geography
2420 BUTANO DR
24
MARKET OVERVIEW
Sacramento is linked to major population and business centers throughout the Western United States via two
interstate freeways, a port and air service. As a result, the metro is a primary transportation and distribution
hub. Interstate 5 travels north and south, and Interstate 80 stretches from the Pacific Coast to the East Coast.
The Port of West Sacramento, located on the Sacramento River, is serviced by the Union Pacific and BNSF
railroads, which connect the region to national and world markets.
The Sacramento Regional Transit District operates the bus and light-rail network covering a 418-square-mile
service area. High-speed rail service between Sacramento and the Bay Area is currently under consideration
due to the high volume of commuter traffic into San Francisco.
Infrastructure
The Sacramento Metro is: 90 miles from San Francisco 140 miles from Reno 515 miles from San Diego 755 miles from Seattle
Airports Sacramento International Airport Three general aviation airports
Major Roadways Interstates 5 and 80 U.S. 50 and State Route 99
Rail Freight – Union Pacific and BNSF Passenger – Amtrak Commuter – Sac RT light-rail
Ports Port of West Sacramento
The Sacramento metro is composed of Sacramento, El Dorado, Placer and Yolo counties and contains more
than 2.2 million people. Sacramento, the state capital, is the largest city, with roughly 487,800 residents. During
the next five years, infill redevelopment projects will help draw businesses and people to the metro, producing
an average annual population gain of 1.1 percent, above that of the nation.
Metro
Largest Cities in Metro by Population
Sacramento 487,800
Elk Grove 160,000
Roseville 126,900
Arden-Arcade 96,300
Citrus Heights 86,500
Folsom 74,400
* Forecast Sources: Marcus & Millichap Research Services; U.S. Census Bureau; Experian
SACRAMENTO
2420 BUTANO DR
25
MARKET OVERVIEW
Sacramento serves as the state capital, making the government sector important
to the region’s economy. During the past three decades, however, the local
economy has diversified considerably, and government jobs now comprise just
25 percent of total employment, compared with 40 percent in 1970. The
government sector is expected to grow by 0.7 percent annually through 2020.
Sacramento’s seismic stability and relatively low business costs compared with
other California metros attract major corporations seeking to relocate or establish
operations in the region. Its proximity to the Bay Area is also a draw. Intel Corp.,
Apple Computer and Siemens Transportation Systems, among others, maintain
facilities in the area.
The decommissioning of Mather Air Force Base to Mather Airport has created
new transportation and trade opportunities, as many globally recognized cargo
companies, such as DHL and United Parcel Service, now use the former base to
ship freight. McClellan Air Force Base has also been converted to civilian use,
transforming into McClellan Park. The park is largely industrial and has been
successful in drawing tenants, which include Northrop Grumman and J.C.
Penney. Large redevelopment projects in downtown Sacramento, including the
Railyards project, West Sacramento Riverfront development and the new Kings
arena, which is due for completion this year, will boost foot traffic, generating
increased business for local merchants.
Economy
* Forecast Sources: Marcus & Millichap Research Services; Bureau of Economic Analysis; Moody’s Analytics; Experian; U.S. Census Bureau
SACRAMENTO
2420 BUTANO DR
26
MARKET OVERVIEW
Sacramento’s well-educated and skilled employment base is approximately 921,000 workers strong. An
average annual growth rate of 1.6 percent is forecast through the next five years, with all sectors expected to
either grow or remain stable. These gains will be driven by an increase in the professional and business
services, and construction sectors. The former will expand at an average of 3.3 percent each year with the
addition of nearly 22,000 positions. This growth should benefit the local office market. Increased demand for
housing as well as redevelopment projects including the new arena, Railyards project and West Sacramento
Riverfront development are generating the need for construction workers. This sector will expand 4.3 percent
annually with the addition of nearly 11,000 jobs.
After government, the trade, transportation and utilities sector is the second-largest segment and now
comprises 16 percent of total metro jobs, many of which are cargo, freight or retail companies. Employment in
this segment is expected to remain relatively stable in the next five years.
Robust population growth has fueled expansion in the education and health services sector over the past five
years, making it one of the better historically performing employment segments accounting for 15 percent of all
jobs. Through 2020, the sector will expand at a rate of 3.2 percent annually adding roughly 24,000 workers.
Yearly gains of more than 3 percent are also expected in financial activities. This sector will add more than
8,000 jobs through 2020.
Labor
* Forecast Sources: Marcus & Millichap Research Services; BLS; Moody’s Analytics
SACRAMENTO
2420 BUTANO DR
27
MARKET OVERVIEW
Sacramento is home to numerous high-tech companies, including Intel Corp., which tops the list of major high-tech employers, and Hewlett-Packard Co., the second-
largest high-tech private employer in the area. The prevalence of highly skilled graduates from academic institutions both within Sacramento and neighboring metros will
continue to fuel growth in this industry.
Healthcare companies, including Kaiser Permanente, CHW/Mercy Healthcare Sacramento and Sutter Health, are significant employers. Demand for health services is
projected to surge due to the aging population and continued strong population growth. Kaiser Permanente has recently announced plans for a new medical center in the
Sacramento Railyards, jumpstarting redevelopment in the area.
Higher education provides many jobs within the metro, with California State University at Sacramento and the University of California at Davis together employing more than
30,000 individuals.
Given the dominance of the government sector in terms of total metro employment, the public sector naturally provides a large portion of area jobs. There were more than
230,000 jobs in Sacramento’s government sector in 2015, boosted in part by Sacramento’s place as the California state capital.
Employers
Major Employers
California State University Sacramento
Sutter Health
Kaiser Permanente
Raley’s Inc.
Intel Corp.
Catholic Healthcare West
University of California Davis
UC Davis Health System
Hewlett-Packard Co.
Target Corp.
* Forecast Sources: Marcus & Millichap Research Services; BLS; Moody’s Analytics; Experian
SACRAMENTO
2420 BUTANO DR
28
MARKET OVERVIEW
Sacramento has undergone significant job and population growth. The area received nearly 450,000 people since the year 2000, an increase of roughly 25 percent. Much of
the gain was due to in-migration, as employment opportunities and relatively affordable housing attracted new residents. An annual expansion rate of 1.1 percent is forecast
during the next five years, outpacing that of the nation.
Job creation has contributed to the metro registering strong population growth in the college-educated segment. The percentage of adults who have attained at least a
bachelor’s degree is 30.5 percent, compared with the national average of 28.8 percent.
Increased education levels helped push the median household income in the Sacramento area to $63,000 last year, above the national median of $56,100. In addition, more
than 10 percent of households earned in excess of $150,000 annually.
Relatively affordable home prices and healthy incomes have contributed to nearly 59 percent of residents owning their home. The median home price is currently $294,200,
above the national average but well below most California metros. Over the next five years, home prices are expected to rise faster than incomes, making homeownership
less affordable for some households.
Demographics
SACRAMENTO
* Forecast Sources: Marcus & Millichap Research Services; AGS; Experian; Moody’s Analytics; U.S. Census Bureau
2420 BUTANO DR
29
MARKET OVERVIEW
Residents and visitors to Sacramento can enjoy many recreational activities. The region is home to several professional sports teams, including the Kings (NBA), Sirens
(IWFL) and the River Cats, the Triple-A affiliate of the San Francisco Giants. Boating is popular on Folsom Lake, and the metro is near the recreational areas of the Sierra
Nevada Mountains, including Lake Tahoe. A short drive leads to some of the world’s finest wine-producing regions: the Napa, Sonoma and Alexander valleys.
Sacramento offers a professional ballet troupe, opera performances, a theater, more than 20 outstanding museums and a zoo. Each year, the city hosts the Dixieland Jazz
Jubilee and many other recreational, entertainment and cultural activities.
In addition to four community colleges, there are two universities located in the region: California State University, Sacramento and University of California, Davis. Numerous
undergraduate and graduate programs are offered to the more than 150,000 enrolled students.
Housing is relatively affordable in the Sacramento region compared with the nearby San Francisco Bay Area. The median single-family home in Sacramento is less than
one-quarter of the cost of a median home in the Bay Area.
* Forecast Sources: Marcus & Millichap Research Services; National Association of Realtors; U.S. Census Bureau; Moody’s Analytics
Quality of Life
SACRAMENTO
2420 BUTANO DR
30
MARKET OVERVIEW
2420 BUTANO DR
31
SACRAMENTO METRO AREA
Investor Activity Fueled by Initial Yields That Surpass Other California Markets
Strong leasing activity places rent growth on an upward trajectory. Robust job creation led by
government, university contractor and health service-related hiring will prove favorable to retailers in multiple
locales, spurring new households to be formed. Stores and restaurants near the Golden 1 Center should
profit from a rise in the number of concerts, games and other events held downtown. Suburban centers
close to employment hubs and prime residential areas will benefit from increased local hiring among higher-
paying professions. This year’s retail construction returns to the average levels registered from 2013 to 2015
after dropping off last year. Sacramento and neighboring Citrus Heights are home to most of this year’s
completions, roughly half of which are build-to-suit single-tenant buildings. Increased demand for space,
namely in the suburbs, will compress vacancy to its lowest point in 10 years. Historically low vacancy will
allow rents to advance for a second consecutive year, after experiencing negative growth in seven of the
previous eight years.
Roster of opportunistic buyers expands as market confidence swells. A growing economy and first-year
returns that noticeably exceed the Bay Area will attract more investors to acquire assets in this market,
intensifying competition for listings. Buyers will target older and outdated assets for promising upside
potential. Value-add buildings near downtown apartment construction and the Kings new arena will be
highly coveted, with returns starting in the low- to mid-6 percent range. Investors focused on single-tenant
assets will target suburban-located properties with long-term leases to national and regional tenants like
Winco, PetSmart, Dollar General and Starbucks. Initial yields for these assets start at 4 to 5 percent and
reach mid-7 percent, depending on locale and lease term. Well-located community, neighborhood and strip
centers with regional and local tenants should trade in the low-5 to mid-7 percent range.
* Forecast Sources: Marcus & Millichap Research Services; BLS; CoStar Group, Inc.
MARKET OVERVIEW
2420 BUTANO DR
32
SACRAMENTO METRO AREA
2017 Market Forecast
Marginal improvements in asking rent move Sacramento down two spots in
Index.
The creation of 28,000 new jobs in 2017 nears the 29,200 positions added
last year. Employment growth was broad based in 2016.
During 2017, delivery volume approaches the 10-year average and doubles
last year’s completions when developers brought less than 300,000 square
feet online.
Net absorption of 1.1 million square feet outpaces new supply,
compressing vacancy to 7.5 percent, the lowest level since 2007. Last year,
availability was unchanged as 300,000 square feet was absorbed.
Following last year’s 4.7 percent jump, average asking rent will rise to
$16.85 per square foot, remaining 32 percent below the rate of 2007.
Listed assets in Roseville, Folsom, Rocklin and Davis, suburban
employment hubs that boast higher disposable incomes, garner multiple
bids, escalating values.
* Forecast Sources: Marcus & Millichap Research Services; CoStar Group, Inc.; Real Capital Analytics
NRI Rank
33, down 2 places
Employment
up 2.9%
Construction
600,000 sq. ft.
Vacancy
down 70 bps
Rent
up 0.5%
Investment
PROPERTY NAME
MARKETING TEAM
2420 BUTANO DR
DEMOGRAPHICS
Source: © 2016 Experian
Created on April 2017
POPULATION 1 Miles 3 Miles 5 Miles 2021 Projection
Total Population 13,806 128,480 363,968
2016 Estimate
Total Population 13,861 127,699 361,187
2010 Census
Total Population 13,285 121,352 341,923
2000 Census
Total Population 12,890 123,231 345,157
Current Daytime Population
2016 Estimate 19,581 142,290 429,230
HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2021 Projection
Total Households 6,297 55,449 144,151
2016 Estimate
Total Households 6,320 54,963 142,745
Average (Mean) Household Size 2.14 2.26 2.46
2010 Census
Total Households 6,027 52,124 135,626
2000 Census
Total Households 6,074 53,819 139,033
Occupied Units
2021 Projection 6,297 55,449 144,151
2016 Estimate 6,591 57,990 149,592
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2016 Estimate
$150,000 or More 6.31% 7.42% 6.25%
$100,000 - $149,000 10.53% 10.65% 10.57%
$75,000 - $99,999 13.94% 10.45% 10.71%
$50,000 - $74,999 16.58% 16.46% 17.62%
$35,000 - $49,999 12.11% 13.84% 14.53%
Under $35,000 39.14% 39.14% 38.70%
Average Household Income $70,413 $73,341 $68,590
Median Household Income $48,440 $46,515 $46,397
Per Capita Income $32,477 $31,828 $27,371
HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 Miles Total Average Household Retail Expenditure $62,490 $61,458 $61,019
Consumer Expenditure Top 10 Categories
Housing $19,429 $19,248 $19,193
Shelter $12,833 $12,823 $12,840
Transportation $9,271 $9,336 $9,310
Food $6,557 $6,570 $6,588
Personal Insurance and Pensions $5,090 $4,948 $4,948
Health Care $3,994 $3,825 $3,691
Utilities $3,180 $3,147 $3,148
Entertainment $2,425 $2,372 $2,333
Cash Contributions $1,735 $1,686 $1,555
Apparel $1,528 $1,545 $1,577
POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population By Age
2016 Estimate Total Population 13,861 127,699 361,187
Under 20 21.13% 22.43% 25.01%
20 to 34 Years 20.19% 21.90% 23.53%
35 to 39 Years 5.59% 5.54% 5.89%
40 to 49 Years 11.93% 11.96% 11.86%
50 to 64 Years 21.75% 20.78% 19.01%
Age 65+ 19.42% 17.37% 14.69%
Median Age 42.71 40.11 36.17
Population 25+ by Education Level
2016 Estimate Population Age 25+ 10,096 89,971 242,283
Elementary (0-8) 2.06% 3.19% 4.20%
Some High School (9-11) 5.14% 6.30% 7.86%
High School Graduate (12) 17.54% 18.91% 21.51%
Some College (13-15) 32.77% 28.76% 27.38%
Associate Degree Only 8.77% 8.19% 8.72%
Bachelors Degree Only 21.61% 20.86% 17.69%
Graduate Degree 11.03% 12.47% 10.60%
33
Income In 2016, the median household income for your selected geography is $48,440, compare this to the US average which is currently $54,505. The median household income for your area has changed by 19.36% since 2000. It is estimated that the median household income in your area will be $61,942 five years from now, which represents a change of 27.87% from the current year. The current year per capita income in your area is $32,477, compare this to the US average, which is $29,962. The current year average household income in your area is $70,413, compare this to the US average which is $78,425.
Population In 2016, the population in your selected geography is 13,861. The population has changed by 7.53% since 2000. It is estimated that the population in your area will be 13,806.00 five years from now, which represents a change of -0.40% from the current year. The current population is 45.87% male and 54.13% female. The median age of the population in your area is 42.71, compare this to the US average which is 37.68. The population density in your area is 4,406.97 people per square mile.
Households There are currently 6,320 households in your selected geography. The number of households has changed by 4.05% since 2000. It is estimated that the number of households in your area will be 6,297 five years from now, which represents a change of -0.36% from the current year. The average household size in your area is 2.14 persons.
Employment In 2016, there are 7,381 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 72.88% of employees are employed in white-collar occupations in this geography, and 26.75% are employed in blue-collar occupations. In 2016, unemployment in this area is 6.73%. In 2000, the average time traveled to work was 24.00 minutes.
Race and Ethnicity The current year racial makeup of your selected area is as follows: 74.07% White, 6.76% Black, 0.46% Native American and 6.07% Asian/Pacific Islander. Compare these to US averages which are: 70.77% White, 12.80% Black, 0.19% Native American and 5.36% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 15.66% of the current year population in your selected area. Compare this to the US average of 17.65%.
PROPERTY NAME
MARKETING TEAM
2420 BUTANO DR
Housing The median housing value in your area was $271,946 in 2016, compare this to the US average of $187,181. In 2000, there were 3,012 owner occupied housing units in your area and there were 3,062 renter occupied housing units in your area. The median rent at the time was $570.
Source: © 2016 Experian
DEMOGRAPHICS
34
