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2830 I St

Sacramento, CA 95816

 

Office For Sale  •  6,000 Sq Ft

Property Details

  • Property Type Office
  • Total Building Size 6,000 Sq Ft
  • Lot Size 0.07 ac
  • Building Class C
  • Year Built 1910
  • Tenancy Multiple
  • Zoning C2, Sacramento
46 Transit Score
80 Walk Score

Description

Turton Commercial is please to present to the market for sale a three-story professional office building located at the corner of 29th and I Streets in Midtown Sacramento. The 6,000 square foot building is currently 95% occupied with a stable mix of therapy and medical users. The building is zoned C-2 SP general commercial and can accommodate a myriad of commercial and residential uses. ***Pro-forma capitalization rate is 7.3%. 

Potential Buyers:
•	Value-add Investor 
o	The property currently produces a gross monthly income of $10,828 and net operating income of $92,688. The year-one acquisition capitalization rate is 5.8% with the ability to gradually increase rents over the next 18-24 months. The pro-forma capitalization rate, assuming modest rent increases, is 7.3%. 

•	Owner-user up to 6,000 square feet 
o	Except for one lease, all leases in the building will expire in 2019. This allows an owner-user to occupy the entire 6,000 square foot building within 18 months. If an owner-user chose to occupy less than the entire building, the existing tenants could stay, where appropriate, and produce passive cash-flow. 

•	Redevelopment Investor 
o	The Property is well-positioned for a residential conversion project. The Property features three distinct floors, all with plumbing infrastructure, ample nature light on all four walls, and separate entrances. Priced at $267 per square foot, this is priced approximately $100-$125 per square foot less than comparable residential-income properties in Midtown, Sacramento.

Property Flyers

Major Tenants

Tenant SF Occupied Lease End Date
Ameriprise Financial Services, Inc. 476 SF
Asian Therapeutics 150 SF
Henderson, Sue Mfcc 200 SF
Natural Healing & Massage 750 SF
Olden Ms Jennifer Anne Mft 344 SF

Public Transportation

Transit/SubwayDriveWalkDistance
29th Street Transit Stop (Gold Line) 5 min 14 min 0.8 mi
AirportDriveWalkDistance
Sacramento International Airport 17 min - 14.9 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Jon Lang 916-573-3302 Turton Commercial Real Estate
Jon Lang 916-573-3302 Turton Commercial Real Estate