Urban-High Street
1000 K Street
1000 K St, Sacramento, CA 95814
Listing Price: $6,500,000
Investment Overview
Turton Commercial Real Estate and Marcus & Millichap are pleased to present the opportunity to purchase 1000 K Street, located in the epicenter of Downtown Sacramento’s K Street Entertainment District and nestled in the heart of the Governmental Affairs District. 1000 K Street is a ± 29,501 square foot two-story building, 100 percent leased to four of Downtown Sacramento’s most popular and successful restaurant and entertainment tenants.
The Property is being offered at $7,500,000, based on a 7.96 cap rate on collected 2023 net operating income of $596,997. Existing leases call for NOI to grow in 2024 to $714,879 (9.53 projected cap).
Investment Highlights
- Located in the epicenter of Downtown Sacramento's K Street Entertainment District and Nestled in the Heart of the Governmental Affairs District
- An Architecturally Extraordinary Building Located in a Federal Opportunity Zone Leased to Four of Downtown Sacramento's Most Popular and Successful Restaurant and Entertainment Tenants
- The Property has Undergone a Top to Bottom Transformation into Part of Urban Sacramento's Cultural Fabric
- December 2022 sale of very comparable property at 1020 K St. ($382/sf) confirms and supports asking price as a well below market offering.
Listing Price: $6,500,000
Investment Highlights
- Located in the epicenter of Downtown Sacramento's K Street Entertainment District and Nestled in the Heart of the Governmental Affairs District
- An Architecturally Extraordinary Building Located in a Federal Opportunity Zone Leased to Four of Downtown Sacramento's Most Popular and Successful Restaurant and Entertainment Tenants
- The Property has Undergone a Top to Bottom Transformation into Part of Urban Sacramento's Cultural Fabric
- December 2022 sale of very comparable property at 1020 K St. ($382/sf) confirms and supports asking price as a well below market offering.
Investment Overview
Turton Commercial Real Estate and Marcus & Millichap are pleased to present the opportunity to purchase 1000 K Street, located in the epicenter of Downtown Sacramento’s K Street Entertainment District and nestled in the heart of the Governmental Affairs District. 1000 K Street is a ± 29,501 square foot two-story building, 100 percent leased to four of Downtown Sacramento’s most popular and successful restaurant and entertainment tenants. The Property is being offered at $7,500,000, based on a 7.96 cap rate on collected 2023 net operating income of $596,997. Existing leases call for NOI to grow in 2024 to $714,879 (9.53 projected cap).
![MM Texture Background](https://www.marcusmillichap.com/-/media/Images/MM/MM%20Hero%20Images/mm-news-research-hero-background.jpg?h=1030&iar=0&w=2880&rev=1569e23dd24a4ecea0b588f7ee537310&hash=B6D3CA35A0504F883C2C5068EE8436C0)
![MM Textured Background Lower](https://www.marcusmillichap.com/-/media/Images/MM/MM%20Hero%20Images/mm-property-footer-background%20jpg.jpg?h=1030&iar=0&w=2880&rev=f3ed593e923445f38df9f1c32d8d190f&hash=323A48081850EDAAE5E1F61061CADFD9)