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Office

2300 N St

2300 N St, Sacramento, CA 95816

Listing Price: $1,250,000

Cap Rate
4.18%
Gross SF
3,600
Rentable SF
3,600
Price/Gross SF
$347.22
Lot Size
0.13 acres
Year Built
1925

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale a two-story 3,600 +/- square foot commercial office building, presently configured into three suites. The building is 100-percent occupied with the potential for an owner/user to occupy up to the entire ground floor once the leases expire later this year. The subject property is located in Midtown, Sacramento on a hard corner of 23rd and N Street. Currently stripped for 14 parking spaces (six single and eight tandems). There is strong potential for either addition parking revenue not currently realized or for the construction of an accessory dwelling unit (ADU). The City of Sacramento is a strong proponent of ADU infill development. This building is approximately five minutes from the California State Capitol. With a strong 95 WalkScore, the subject property is surrounded by a host of retail amenities and growing neighborhoods, With a 2021 median household income of $83,000 a year (relative to the U.S. national average of $65,694 per year). Originally built as a four-unit apartment complex, this Opportunity Zoned property has redevelopment potential back to multifamily use. Midtown is Sacramento's most desirable apartment submarket for investors and residents alike.

Investment Highlights

  • Strong Corner Location in Midtown
  • Possible Conversion to Multifamily Housing
  • Highly attractive WalkScore of 95 "Walkers Paradise"

Exclusively Listed By

  • Mark Hefner

    Senior Vice President Investments

    (916) 724-1361

    Email Mark

    License(s): CA: 00823945, NV: BS.1000677, OR: 201211829, WA: 24003

    Sacramento

Listing Price: $1,250,000

Cap Rate
4.18%
Gross SF
3,600
Rentable SF
3,600
Price/Gross SF
$347.22
Lot Size
0.13 acres
Year Built
1925

Investment Highlights

  • Strong Corner Location in Midtown
  • Possible Conversion to Multifamily Housing
  • Highly attractive WalkScore of 95 "Walkers Paradise"

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale a two-story 3,600 +/- square foot commercial office building, presently configured into three suites. The building is 100-percent occupied with the potential for an owner/user to occupy up to the entire ground floor once the leases expire later this year. The subject property is located in Midtown, Sacramento on a hard corner of 23rd and N Street. Currently stripped for 14 parking spaces (six single and eight tandems). There is strong potential for either addition parking revenue not currently realized or for the construction of an accessory dwelling unit (ADU). The City of Sacramento is a strong proponent of ADU infill development. This building is approximately five minutes from the California State Capitol. With a strong 95 WalkScore, the subject property is surrounded by a host of retail amenities and growing neighborhoods, With a 2021 median household income of $83,000 a year (relative to the U.S. national average of $65,694 per year). Originally built as a four-unit apartment complex, this Opportunity Zoned property has redevelopment potential back to multifamily use. Midtown is Sacramento's most desirable apartment submarket for investors and residents alike.

Exclusively Listed By

  • Mark Hefner

    Senior Vice President Investments

    (916) 724-1361

    Email Mark

    License(s): CA: 00823945, NV: BS.1000677, OR: 201211829, WA: 24003

    Sacramento

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