STREET INVESTMENT PROPERTY FOR SALE IN DOWNTOWN SACRAMENTO

Transcription

1 STREET TH INVESTMENT PROPERTY FOR SALE IN DOWNTOWN SACRAMENTO

2 2 3 THE PROPERTY TURTON COMMERCIAL, AS EXCLUSIVE ADVISOR, IS PLEASED TO PRESENT THE OPPORTUNITY TO ACQUIRE THE 100% FEE SIMPLE INTEREST IN TH STREET th Street is centrally located in the Downtown Business District as an excellent valueadd investment opportunity! The property is fully leased, comprised of a commercial/retail space converted to a residential unit (approximately 1,500 square feet), one 2-bedroom 2-bath residential unit, two 1-bedroom 1-bathroom residential units, and two secured parking garages, one of which is leased to a commercial tenant. Three of the residential units features newer flooring and paint, beautifully updated kitchens and bathrooms, newer appliances, washers and dryers, ample storage space, and central air conditioning and heat. The property currently generates Gross Annual Income of $69,120. The building is a Queen Anne Victorian that was recently renovated and updated to showcase its gorgeous original character with modern finishes. The property is zoned C2 allowing a multitude of potential commercial uses. The building is located in the Alkali Flat neighborhood, one block from the Creamery townhome development by Black Pine Communities. BUILDING INFO RETAIL SPACE ADDRESS: TH STREET, SACRAMENTO, CA PRICE: REDUCED $850,000 PRICE PER SF: $176 GROSS INCOME: $69,120 CAP RATE: 5.3% APN: BUILDING SIZE: 4,835 SF PARCEL SIZE: 3,200 SF ZONING: C-2 THE CREAMERY - NEARBY RESIDENTIAL DEVELOPMENT

3 4 5 PROPERT Y L OCATION TAKE ADVANTAGE OF SACRAMENTO S BURGEONING DOWNTOWN MARKET Downtown Sacramento is emerging as the vibrant cultural, entertainment, business and residential destination for the entire region. Nearby, The Kay is located in the heart of this burgeoning hub and is home to popular amenities like the Crest Theatre, Pizza Rock, Dive Bar and California Family Fitness. Take advantage of Sacramento s renaissance and demographic shift to the live, work, play lifestyle! Downtown Sacramento is the epicenter for the region s most exciting events and development activity. Downtown continues to be the hub of Sacramento s $2.8 billion tourism industry with more than 378 conventions and events and more than 880,000 attendees in 2014 alone. The booming nightlife and entertainment scene, coupled with the development of the new Golden 1 Center, provides the perfect opportunity for an office or retail user to define their company culture in Sacramento s booming downtown submarket. 30 new retail businesses opened downtown in 2014 and the office market continues to develop as firms move to the urban core to attract top talent. More than one-third of the Class A office space in the region is located in Downtown providing a large daytime population of over 70,000 employees. Fueled by the millennial generation, demand for downtown housing continues to grow from its current 17,000 residents and Downtown hotel occupancy has increased to 77% - well above the national average. The location in the Alkali Flat neighborhood provides many advantages and easy access to some of Sacramento s most exciting amenities: Excellent location near the State Capitol, Golden 1 Center, Downtown Commons, K Street, Convention Center, Memorial Auditorium, Wells Fargo Pavilion/ Sacramento Theatre Company, Amtrak Sacramento Valley Station and the Railyards redevelopment project Stone throws from many restaurants and retailers: Sandra Dee s BBQ & Seafood, Shine Cafe, Yoga Seed, Taqueria Jalisco, 524 Mexican, Barber Blues, Sampino s Towne Foods, and Camelia Coffee Roasters opening across the street soon! Short distance to Midtown, Old Sacramento, West Sacramento and Natomas Proximity to I-80 and I-5 freeways Pedestrian and Bike-Friendly Neighborhood, including nearby American River Bike Trail Short walk to public transportation lines, parks, variety of eateries and amenities BRIDGE DISTRICT STATE CAPITOL GOLDEN 1 CENTER TONY S DELI ESPRESSO BAR JIM DENNY S BANGKOK THAI BLUE PRYNT CAFE RAILYARDS G STREET CAFE NAKED LOUNGE SUGAR & SPICE 524 MEXICAN E THE PROPERTY GLOBE MILLS 12TH 2016 This information has been secured from sources believed to be reliable. Any projections, opinions, assumptions or estimates used are for example only and do not constitute any warranty or representation as to the accuracy of the information. All information should be verified through an independent investigation by the recipient, prior to execution of legal documents or purchase, to determine the suitability of the property for their needs. Logos and/or pictures are displayed for visual purposes only and aare the property of their respective owners.

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5 PATRICK STELMACH D.R.E. LIC L STREET, STE 200, SACRAMENTO, CA TURTONCOM.COM