21 Q
Half City Block Development Opportunity
Marketing description
CBRE is pleased to present the opportunity to acquire 2123 Q Street, a half city block in the heart of Midtown Sacramento, entitled for 248 multifamily units, on the hard corner of 21st Street and Q Street. The Property represents one of the largest development opportunities available in urban core Sacramento. The site is approximately 1.19 acres or 51,910 square feet of land, zoned General Commercial (C-2-SPD).
An irreplaceable landmark location in the most sought-after submarket of Sacramento, the Property is across from The Press luxury apartments and the planned redevelopment of The Sacramento Bee headquarters. Stroll up 21st Street to dining and nightlife in the Lavender District. Q Street connects to premier retail at Ice Blocks and major employment centers in Downtown. This location offers residents exceptional walkability (Walk Score 90/100) and new protected bike lanes throughout the vibrant neighborhood. This lively area boasts Sacramento’s best restaurants, attractions, theatres, art galleries, and music venues. The Midtown Farmers Market – with 160+ vendors a mere 5 blocks from the Property - was voted as the #1 best farmers market in California and the #3 best in the nation.
Investment highlights
FULLY ENTITLED PROJECT - Site Plan and Design Review are fully approved to construct a six-story, approx. 290,000 square foot, mixed-use building with 248 apartments and two live/work units. The site also has conceptual site plan and designs for (41) for-sale single-family residential townhomes.
DYNAMIC WALKABLE LOCATION - Residents have convenient access to dining, retail and entertainment options. The site’s prime location and proximity to the area’s most popular establishments have earned it a Walk Score of 90 and Bike Score of 99.
EPICENTER OF URBAN CORE EMPLOYMENT - Immediate access to Downtown Sacramento’s 10M SF of office space, walkable to the State Capitol Building and Capitol Mall, and the region’s premier medical centers are less than 2-miles away.
EXCEPTIONAL TENANT DEMOGRAPHICS - Average household income of $102,382 within a half-mile radius of the property.
PROXIMITY TO PUBLIC TRANSIT - Less than 1/4 mile from major transit stops, providing residents immediate access to regional employment centers, entertainment, nightlife, and retail.
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