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721 9th Street $4,795,000

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    721 9th Street Sacramento, CA 95814

    • 14,130 sq. ft.
    • 0.12 Acres
    • Commercial
    • MLS# 222006708
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    Views: 71

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    Property Details

    721 9th Street is a single tenant leased investment in the Heart of Downtown Sacramento. The Property is 100% leased to the County of Sacramento through April 30, 2029. The Property is being offered at $4,795,000 ($339 PSF) which results in a year-one capitalization rate of 6.63%. However, through May 2024, the tenant also pays a tenant improvement reimbursement equal to $2,731 per month, which until that date, increases the realized capitalization rate to 7.31% in the first year. As is custom with agency leases, the Tenant has an on-going right to terminate the lease starting in May 2024, the risk of which has been factored into the acquisition capitalization rate. The Property measures 14,130 RSF across three equal floors, each serviced by a common elevator and individual restroom cores. The Property is located directly across from the Gordon D. Schaber County Courthouse and walking distance to the State Capitol, Federal

    • General Features
      • Year Renovated 1905
      • Year Built 1979
      • County Sacramento
      • Business Type Commercial
      • Property Subtype Office
    • Building Features
      • Construction Materials Masonry
      • Cooling Central
      • Dock Doors 0
      • Building Features 1 Restroom Per Unit, Elevator(s)
      • Flooring Carpet
      • Heating Central
      • Number of Floors 0
      • Number of Offices 0
      • Number of Restrooms 0
      • Industrial SqFt 0
      • Floor Num 0
      • Minimum Available SqFt 0
      • Number of Buildings 0
      • Number of Elevators 0
      • Water Source Public
      • Total Units 1
      • Warehouse SqFt 0
      • Sewer Public Sewer
      • Stories 3
      • Square Footage 14,130
      • Total Parking Spaces 0.00
      • Roof Flat
      • Office SqFt 14130
      • Number of Truck Doors 0
    • Property Features
      • Lot Size Square Feet 5118.00

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    Neighborhood

    95814 (Sacramento) Demographics

    34 Median Age
    8,310 Population Density (per sq. mile)
    48% College Educated
    $33,938 Estimated Median Income
    483 Estimated Total Home Owners
    6,226 Estimated Total Renters
    7% / 93% Estimated Owner / Renter Divide
    1 Estimated Average Household Size
    11,908 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $0 Median Sales Price
    0 Homes Sold
    8 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $4,795,000
        1/23/2022 3:02:00 AM New in Database Source: Multiple Listing Service New Value: $4,795,000

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        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Information is provided in part by the IDX program of METROLIST SERVICES, INC. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information last updated 5/18/2022 4:06:20 PM. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Terms of Use

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.