Midtown Sacramento Two-Story Office
For Sale
Contact for pricing
1016 23rd Street, Sacramento, CA 95816
2,962 SF office building in the heart of Midtown.
Property Size2,962 SF
Price / SF$335.92
Days on Market792
Property Features for 1016 23rd Street
General Information
Standard status
Active
Size
2,962 SF
Total Parking Spaces
7
Property subtype
Office
Zoning
C-2 SPD
Lease Type
NNN
Investment Type
Owner/User
Site & Location
Neighborhood
Midtown / Winn Park / Capital Avenue
Building Details
Year Built
1967
Year Renovated
2023
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Turton Commercial Real Estate
Listed By:
Kaylyn Ibarra · License #02350645
(916) 573-3305
Source:
Crexi
Added: Aug 24, 2024
Changed: Oct 24
Last Checked: Oct 23 at 4:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Turton Commercial Real Estate
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Investment Insights
Based on property information with market context.
This 2,962 square foot, two-story office building is located in the heart of Midtown Sacramento. The property offers a blend of creative office space and amenities in the central city. On-site parking and improvements are designed to attract talent, whether for the owner's business or for leasing. The Midtown location places the building at the center of Sacramento’s business community, surrounded by entrepreneurs and established companies. The location provides access to dining, shopping, entertainment, and cultural attractions. A Midtown address elevates business prestige and credibility. Owning the space provides stability, shielding the business from rising rental costs and lease renewal uncertainties. The property is located at 1016 23rd Street.
Key Highlights
- Prime Midtown Sacramento location, offering unparalleled access to dining, shopping, entertainment, and cultural attractions.
- Turn‑key, two‑story office building with 2,962 square feet of creative office space.
- On‑site parking available.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,355
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,100
$807.1K
Cap Rate 7%
$576,500
$576.5K
Cap Rate 9%
$448,389
$448.4K
Market Conditions
NOI Build-Up for 2,962 SF
Gross rent
$64.0K $21.60/SF
− Vacancy
−$10.2K −$3.43/SF
EGI
$53.8K $18.17/SF
− OpEx
−$13.5K −$4.54/SF
NOI
$40.4K $13.62/SF
Area
Sacramento, CA
Vacancy
15.90%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,100
Cap Rate 7%
$576,500
Cap Rate 9%
$448,389
Alternative Uses
Best Use
Office B
$576.5K
$504.4K – $672.6K
NOI $40,355 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$795.9K
$696.4K – $928.6K
NOI $55,715 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
7,012
Businesses Nearby
Explore this area
Business Placement
Demographics for 95816, CA
18,606
Population
11,553
Households
1.6
Avg Household Size
36
Median Age
65%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
6,891
Density / Sq Mi
$90,521
Median Household Income
$61,407
Median Earnings
$1,647
Median Rent
$789,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Sacramento, CA
Frequently Asked Questions
What type of property is this?
Office building - 2,962 SF office building in the heart of Midtown.
Where is this office building located?
The property is located at 1016 23rd Street Sacramento, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime Midtown Sacramento location, offering unparalleled access to dining, shopping, entertainment, and cultural attractions.; Turn‑key, two‑story office building with 2,962 square feet of creative office space.; On‑site parking available.
