Historic Fleming Building
A 6,900 sq ft historic mixed-use asset anchoring the hard corner of Lincoln Blvd and 5th Street
Marketing description
This is a 6,900 square foot historic mixed-use building occupying the hard corner of Lincoln Blvd and 5th Street in downtown Lincoln — an assemblage trading as a single parcel with multiple street addresses and independent rentable bays. The building dates to 1900 and carries the character buyers cannot manufacture: original brick, transom glass, corner presence, and a tenant-mix flexibility that modern product cannot replicate.
Investment highlights
Priced at $1,875,000, the asset trades at roughly $272 per square foot against replacement cost materially higher and against downtown Placer County comparables that routinely clear $300+ per foot once modernized. The deferred maintenance and cosmetic updates are knowable, scopeable, and contained — not structural.
Execute a disciplined capital plan across 12 to 18 months and the asset resets to a $2M+ stabilized basis with in-place income supporting a refinance or a clean disposition. This is a craftsman's deal, not a home run — the margin is earned, not gifted.
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