High profile value-add office investment in the heart of East Sacramento for sale. Approximate 15,000 square foot office building that is currently 95% leased to 13 office tenants between 500 and 3,000 square feet each. Building is situated on an approximate 19,334 SF parcel of land, which contains 38 on-site parking stalls (11 of which are covered). Average rent is $1.46 PSF, while avg. market rent is about $2.15 PSF (50% higher). Add immediate value with cosmetic upgrades and increasing rents. New TPO membrane roof installed in 2015 and other infrastructure is in good, working condition. Walk to McKinley Park, the Fab 40's, or Midtown. Located one block from Business 80 on/off ramps, providing easy access to most of Sacramento. Building is priced at $234 PSF, but it would cost no less than $375 PSF to build the same building today. Priced significantly below replacement cost!
|--||New Value: $3,500,000|
|6/1/2021 2:42:36 PM||New Value: Pending|
|3/29/2021 4:02:00 PM||New Value: $3,500,000|