Listed by Turton Commercial Real Estate
$895,000
1231 I Street Condo 204 Downtown Sacramento
Details
APN 006-0051-0220-008
Property Type Office
Sub Type Executive Office
Square Footage 44,639
Net Rentable (SqFt) 3,902
Units 15
Tenancy Vacant
Price per SqFt $292
Year Built 2006
Zoning C-2-SPD General Commercial
Parking Spaces 2 spaces
Parking Per SqFt 0.04
Investment Type Owner/User
Office | 44,639 SqFt
Marketing description
Turton Commercial Real Estate is pleased to present the opportunity to purchase or lease 1231 | Street, Suite 204 (the "Condo"), a 3,331 usable square foot office condo located in the Downtown Sacramento Central Business District. The Condo is a unique opportunity for a business, association, or non-profit to purchase and occupy, or lease, an office that is walking distance to the State Capitol and surrounding area. The Condo will be delivered vacant at closing and all furniture currently in the office can be conveyed with the sale/lease. The Condo is located within 1231 | Street in Sacramento, a professionally managed office building with modern "I beam" construction and floor-to-ceiling windows on all four sides of the building. The Condo is located on the second floor with west-facing exposure and views of the Downtown and Capitol Mall sky- line. The Condo measures approximately 3,331 usable square feet and 3,902 rentable square feet and features 6 large executive offices, a conference room for up to 20 people, formal re- ception and waiting area, breakroom, IT room, copy room, and open space for approximately 10 workstations. 1231 | Street is comprised of 15 separate office condos, most of which are owned by the occupant. Other owners in the building include several associations, law firms, and lobbying firms. The building is approximately 3 blocks from the California State Capitol, 3 blocks from City Hall, and 4 blocks to the Gordon Schaber Courthouse. The building is also located direct- ly across the street from the Sheridan Grand Parking Garage and one block from the Me- morial Garage, where the current owner leases monthly parking spaces. 1231 | Street is one of only two office condo projects in Downtown Sacramento, and the only property that can accommodate owner-occupants that need less than 7,000 square feet. As such, the building is a highly desirable and scarce place to own and occupy an office condo in the central business district.
Investment highlights
- Number of Condos 15
- Elevator Yes
- Electric Service Provider SMUD
- Gas Provider PG&E
- Water/Sewer Provider City of Sacramento
- Parking Owner may contract for monthly parking at the Memorial Parking Garage two blocks away
- Lease Rate $2.45 PSF Full Service
- Purchase Price $895,000
- Price per Square Foot $268 PSF
- Condo Size 3,331 USF
- Total Building Size 44,639 USF
- Pro-rata Share of Building 7.46%
- 2025 Monthly Association Dues $2,420 per month
- Electric & Gas Owner reimburses association for pro-rata share of electric and gas billed to the entire building along with Association Dues
- Property Taxes and Insurance Owner pays
Listing Contacts
Listed by Turton Commercial Real Estate
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