December 2006
Provided by Sheryl A. Smith, CCIM, CEO of Smith Real Estate Services
Sacramento Retail:
- Street Retail had the highest average asking rent of $2.13psf/mo.
- Average Asking Sales Prices have come down about 3.9% since mid 2006, across all retail property types.
- About 52% of the listed retail properties are between 5,000-24,999 sf.
- 14th lowest retail vacancy market in the USA for Q4/2004.
Average Asking Price by retail building size
5,000-9,999sf $258 psf (31% of available property listed)
10,000-24,999sf $224 psf (22% of available property listed)
25,000-49,999sf $192 psf (7% of available property listed)
Sacramento Industrial:
- Flex/R&D had the highest average asking rent of $0.89psf/mo.
- Average Asking Sales Prices have gone up about 4.5% since mid 2006, across all industrial property types.
- About 62% of the listed industrial properties are between 5,000-24,999 sf.
Average Asking Price by industrial building size
5,000-9,999sf $143 psf (27% of available property listed)
10,000-24,999sf $128 psf (35% of available property listed)
25,000-49,999sf $ 99 psf (9% of available property listed)
Sacramento Office:
- Office buildings had the highest average asking rent of $1.82psf/mo.
- Average Asking Sales Prices have gone up about 3% since mid 2006, across all office property types.
- About 69% of the listed office properties are between 0-9,999sf.
Average Asking Price by office building size
0-5,000sf $347 psf (47% of available property listed)
5,000-9,999sf $291 psf (22.5% of available property listed)
10,000-24,999sf $272 psf (19% of available property listed)
Sacramento Multi-Family:
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Du/Tri/Fourplexes had the highest average asking sales price of $190,468 per unit.
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Average Asking Sales Prices have gone up about 1.4% since mid 2006, across all multi-family property types.
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About 68% of the listed multi-family properties are between 2-9 units.
Average Asking Price by unit mix
>5 units $190,251 per unit (52% of available property listed)
5-9 units $112,271 per unit (15.6% of available property listed)
10-19 units $ 90,572 per unit (10.3% of available property listed)
Sacramento Vacancy Rates (Forecast Q4/2006)
Office 15.3%
Industrial 12.0%
Retail 6.2%
Multi-Family 5.3%
National Vacancy Rates (Forecast Q4/2006)
Office 12.9%
Industrial 9.5%
Retail 8.1%
Multi-Family 5.4%
Western Region Average Cap Rate
Office 6.9%
Industrial 6.8%
Retail 6.4%
Multi Family 5.4%
Sources: Loopnet Local Insights & the NAR Commercial Real Estate Outlook Report
This entry was posted on Sunday, January 14th, 2007 at 12:47 pm and is filed under S.I.R.E. Reports, Investment Real Estate, Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
