Listed by Turton Commercial Real Estate
Unpriced
2407 J & 2408 I Street
Details
APN 007-0032-022-0000,007-0032-007-0000
Property Type Retail, Office
Sub Type Storefront, Commercial
Square Footage 21,538
Cap Rate 3.15%
NOI $189,000
Tenancy Multi
Brand/Tenant Rick's Dessert Diner, Cook Brown LLP
Lease Type NNN
Pro-Forma Cap Rate 8.27%
Pro-Forma NOI $496,000
Price per SqFt $279
Year Built 1900
Year Renovated 2024
Buildings 1
Stories 3
Lot Size (SqFt) 6,400
Zoning R3
Parking Spaces 11 spaces
Parking per 1,000 SqFt 0.51
Investment Type Owner/User
Retail | 3.15% CAP | 21,538 SqFt
Marketing description
Turton Commercial Real Estate is pleased to offer 2407 J Street and 2408 I Street for sale or lease. 2407 J Street is a partially leased, three-story, 21,538 square foot ("SF") mid-century modern building constructed of concrete, and glass. 2408 I Street is 6,400 SF land parcel zoned R3 and entitled for up to 30 residential units.
2407 J Street was designed by Starks, Nacht and Lewis Architects, and built in 1961, as a state of the art building in what is now known as the midcentury modern style. Since that time the building has seen many positive renovations and improvements to make it one of Midtown Sacramento's most unique and appealing mixed-use, retail and creative office buildings.
Located prominently in the heart of the "Midtown Grid" on the hard corner of 24th and J Streets, one of Midtown's most visible and commerce-heavy corners, the Property represents an excellent example of commercial mixed-use within the urban core.
2407 J Street features a combination of retail and office tenants, in tandem with a generous amount of on-site parking, diversifying the building's income and creating a more secure investment.
corners, the Property represents an excellent example of commercial mixed-use within the urban core.
2407 J Street features a combination of retail and office tenants, in tandem with a generous amount of on-site parking. diversifying the building's income and creating a more secure investment.
The Building is approximately 21,538 square feet divided among three floors, and features both surface and underground parking, very rare to find in Midtown Sacramento.
The building has had several notable capital improvements: First, the two elevator cabs (the building features two elevators) and motors have been entirely replaced (an estimated $250,000-$350,000 expense). What's more, building ownership installed elevator key codes to ensure maximum security for tenants on every floor. The common areas have all been renovated with Class A finishes ($150.000 expense). The building features a keyfob and camera security system that extends to the elevator, providing security to all tenants in the building.
Turton Commercial Real Estate is pleased to offer 2407 J Street and 2408 I Street as an assemblage for sale or lease. 2407 J Street is a partially leased, three-story, 21,538 SF mid-century modern building constructed of concrete, and glass. Located in the heart of the “Midtown Grid” on the hard corner of 24th and J Streets, one of Midtown’s most visible and commerce-heavy corners, the Property represents an excellent example of commercial mixed-use within the urban core.
The offering also includes 2408 I Street, a 6,400 SF parcel of land that extends from I Street to the alley, and is currently paved for parking up to 11 regular-sized vehicles. 2408 I Street is zoned R3 and entitled for up to 30 residential units.
The Building also has had several notable capital improvements, including two elevator cabs and its motors and class A finishes to the common areas.
2407 J Street: 21,538 SF, standalone building with surface and underground parking
2408 I Street: 6,400 SF, separate parcel with development potential
Investment highlights
- Located in the heart of the 'Midtown Grid' on the hard corner of 24th and J Streets
- 21,538 SF mid-century modern building constructed of concrete and glass
- 2408 I Street: 6,400 SF parcel of land with development potential, entitled for up to 30 residential units
- Two elevator cabs and motors
- Class A finishes to common areas
- Surface and underground parking
Listing Contacts
Listed by Turton Commercial Real Estate
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Annual Cash Flow
$189,000.00
$15,750.00/mo
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