1925 F ST FOR SALE OWNER-USER OR ADAPTIVE RE-USE OR INFILL DEVELOPMENT OPPORTUNITY

Transcription

1 1925 F ST FOR SALE OWNER-USER OR ADAPTIVE RE-USE OR INFILL DEVELOPMENT OPPORTUNITY

2 PROPERTY SUMMARY TURTON COMMERCIAL REAL ESTATE IS PLEASED TO PRESENT THE OPTION TO PURCHASE 1925 F STREET - A RARE MIDTOWN ACQUISITION OPPORTUNITY The subject property is a ± 2,969 square foot single tenant commercial building situated on the NW corner of 20th and F Street. The property is on a ± 6,400 square parcel zoned C-2 zoned and can accommodate a range of commercial applications for interested owner-users or investor s looking for an adaptive re-use infill opportunity. The ground floor is approximately ± 2,000 square feet with a 2nd level on approximately ± 1,000 square feet. The building is situated on the lot line, leaving over half of the parcel to accommodate parking needs or to re-purpose for a more pedestrian friendly or retail use. The property features curb cuts on both 20th and F Streets as well as underutilized railway parcel to the west. Neighboring properties have been able to park along this railway adjacent parcels, allowing for a higher utilization of the actual parcel itself. Building is currently occupied with a tenant on a shortterm lease. Property can delivered vacant to accommodate an owner-user, negotiate a lease with current tenant or renovate and re-tenant with ease. The flex building features two roll up doors, large window systems, clerestory windows on the 2nd level and a concrete flooring. A renovation of the building could result in a perfect blend of industrial and creative office/retail design that give the the building a unique and memorable Aesthetic. Small commercial opportunities in Midtown are scarce. Developments are replacing underutilized or lower density commercial properties. Higher density projects will be bringing thousands of new residential units in the coming years. There are less than 10 properties in the Central City that are under 5,000 square feet and even less that are priced reasonably and walking distance to the MARRS building in Midtown. PROPERTY INFO PRICE: $650,000 ($219/SF) ADDRESS: ± F - Street 1,603 SF BUILDING SIZE: ± 2,969 SF LOT SIZE: Office ± 6,400 SF ($101/SF) ZONING: C-2 General Commercial YEAR BUILT: 1989 CONSTRUCTION: Frame over raised foundation PARKING: 4-6 Stalls CONCEPTUAL RENDERING CEILING HEIGHT: ROLL-UP DOORS: 20 FT Two (8x10 Ft) (12x10 FT)

3 ZOCALO FIELDWORK PAESANO S THE PRESS CHIPOTLE JACK S URBAN EATS LOWBRAU BLOCK BUTCHER BAR NEKTER JUICE BAR PEET S COFFEE MIDTOWN FARMERS MARKET PROPERTY L O C AT I O N Midtown Sacramento is the perfect fusion of successful locally owned business and organic youth infused goods and services; a healthy dose of carefully selected national and regional retailers and an eclectic mix of high-end demographic occupations are embedded in a landscape of unique older buildings and mature trees. Business owners, residents and investors have flocked to the center of Sacramento s art, music, and cultural scene to cash in on the fruitful submarket. Many people consider Midtown to be the most centralized area in the city of Sacramento, with easy access to Downtown, Old Sacramento, West Sacramento and East Sacramento. Walk to grab coffee at The Mill, Old Soul at the Weatherstone, Peet s, Starbucks, Pachamama or Temple Coffee. The building is situated in the Boulevard Park neighborhood. A historic neighborhood known for landscaped boulevards and leafy green tree canopies. The building is 4 blocks from 20th and J Street, a highly desirable intersection with amenities to service daytime and nighttime traffic. The intersection may be the most recognizable by any Sacramento urbanite, and known as the home of the MARRS Building with Lowbrau, the Midtown Farmers Market and the epicenter of Second Saturday. Large infill housing and mixed-use development projects are scattered throughout the grid, indicating regional growth and an increased emphasis on inner-city living. Nearby prominent tenants include The Mill, Old Soul, Sampino s, Starbucks, Noah s Bagels, Pete s Restaurant & Brewhouse, Bev Mo, Tank House, The Old Spaghetti Factory, Faces, Badlands, Art Galleries and many more. INVESTMENT HIGHLIGHTS Small Commercial Building in Midtown Unique Architectural Features Quick Access to Main and Main Amenities Proximity to Central Business District Walking Distance to Midtown Amenities Roll Up Doors Provide Utility and Aesthetics KASBAH TAPA THE WORLD SUBWAY STARBUCKS NOAH S BAGELS JYROS DOMINOS PIZZA TANK HOUSE PETE S BREWHOUSE PACHAMAMA STATE CAPITOL P.F. CHANG S MIKUNI STARBUCKS PIEOLOGY PETRA STATION 16 FIRESTONE BEVMO GOLDFIELD S OFFICE MAX J ST MEMORIAL AUDITORIUM 1 6 TH REET DOWNTOWN STR EET THE MILL EASY ON I MIDTOWN OLD SOUL AT THE WEATHERSTONE MOXIE BONFARE MARKET 2 0 TH S TR EE URBAN HIVE COWORKING 16TH STREET DONUTS MIJDTOWN QUICK MART SAMPINO S TOWNE FOODS TALK2ME WONDERFUL UNION WASHINGTON PARK T T F S THE PROPERTY RE ET NEW ROMA BAKERY TOM S PRINTING

4 THIS BUILDING HAS POTENTIAL RAD NEARBY Utilize current infrastructure for auto-centric and/or workshop flex space Renovate the building and reposition for creative office or neighborhood retail Investigate potential to utilize the railway parcel for additional parking Flex/Retail/Creative Office building that can accommodate 3,000SF tenant/user. Size of property limits the scope of renovation and overall project costs PROFORMA INCOME PRICE PER SF: MONTHLY INCOME: $650,000 ($219/SF) ± 240-1,603 SF $5,250/month/NNN ANNUAL INCOME: $63,000 VALUE AT 6-7% CAPITALIZATION Office $900,000 1,050,000 ACQUISITION: $650,000 DELTA (RENOVATION, HOLD, EQUITY): $250,000 $400, 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 theproperty for their needs. Logos and/or pictures are displayed for visual purposes only and are the property of their respective owners.

5 TURTON JOHN MUDGETT D.R.E. LIC L STREET, STE 200, SACRAMENTO, CA TURTONCOM.COM