Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1515 S St Sacramento, CA 95811

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Two-building office project near the State Capitol and R Street Corridor.

    Property size:
    283,504 SF
    Lot size:
    283,504 SF

    Property Features for 1515 S St

    General Information

    Standard status
    Active
    Size
    283,504 SF

    We can help!

    Listing Contact
    Jason Goff
    Source: Cbre

    Listing Agency: CBRE | Sacramento Listing Agent: Jason Goff

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Two-Building Office Project For Rent

    The property at 1515 S Street is a two-building office project encompassing approximately 399,636 square feet. It features an attached eight-story parking garage with 759 stalls. The property is located within a half-mile of the State Capitol, in the R Street Corridor, known for shopping, dining, and entertainment. The property includes renovated lobbies, a cafe, a fitness center, conference rooms, and a courtyard. The location offers walkability to shops and public transportation and a bikeable environment.
    Location Intelligence

    Current Use by Public Records

    Frolan R. Aguiling Law Firm Vallecito Conservation Camp Sustainability Organization Cal Department of Corr ... Rehabilitation Center Training & Development Division Social Service Agency CASOMB Association Or Organization

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Law Firm Nail Salon Building Supply Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sacramento
    County
    Sacramento
    State
    California
    Longitude
    -121.4895728
    Latitude
    38.5687392

    Nearby Similar for Lease

    • Contact for pricing

      CA, Sacramento - 11th St

      Workspaces, services and support to help you work better in CA, Sacramento - 11th St
      1100 11Th St, Sacramento, CA 95814
      View Details
    • Contact for pricing

      CA, Sacramento - 1860 Howe Ave

      Discover many ways to work your way in CA, Sacramento - 1860 Howe Ave
      1860 Howe Ave, Sacramento, CA 95825
      View Details
    • Contact for pricing

      CA, Sacramento - 2180 Harvard

      Discover many ways to work your way in CA, Sacramento - 2180 Harvard
      2180 Harvard St, Sacramento, CA 95815
      View Details
    • Contact for pricing

      CA, Sacramento - 1750 Howe

      Discover many ways to work your way in CA, Sacramento - 1750 Howe
      1750 Howe Ave, Sacramento, CA 95825
      View Details
    • Contact for pricing

      Spaces R Street

      Find fully flexible work and meeting space in Spaces R Street
      1610 R St, Sacramento, CA 95811
      View Details
    • Contact for pricing

      CA, Sacramento - Response Rd

      Discover many ways to work your way in MD, Westminster - E Main St
      1651 Response Rd, Sacramento, CA 95815
      View Details
    • Sponsored
      Contact for pricing

      CA, Sacramento - G Street

      Flexible workspace in NV, Reno - 300 E 2nd St
      930 G St, Sacramento, CA 95814
      View Details
    • Contact for pricing

      500 Capitol Mall

      Discover many ways to work your way in 500 Capitol Mall
      500 Capitol Mall, Sacramento, CA 95814
      View Details
    • Contact for pricing

      Promenade Circle

      Discover many ways to work your way in Promenade Circle
      180 Promenade Cir, Sacramento, CA 95834
      View Details
    • Sponsored
      Contact for pricing

      8880 Cal Center Drive

      Discover many ways to work your way in 8880 Cal Center Drive
      8880 Cal Center Dr, Sacramento, CA 95826
      View Details
    • Contact for pricing

      Campus Commons

      Discover many ways to work your way in Campus Commons
      333 University Ave, Sacramento, CA 95825
      View Details
    • Contact for pricing

      Midtown Sacramento Office/Retail Building

      Single-story office/retail building in the heart of Sacramento Midtown.
      2101 K St, Sacramento, CA 95816
      View Details

    FAQs

    What type of property is this?
    Office building - Two-building office project near the State Capitol and R Street Corridor.
    Where is this office building located?
    The property is located at 1515 S St Sacramento, CA.
    What are key features of this property?
    This property features: - Located in the heart of the R Street Corridor, Sacramento's thriving shopping, dining, and entertainment district.; - Half-mile proximity to the State Capitol.; - ±399,636 square foot office project with two buildings.
    (916) 446-8222
    Request Owner's contact information
    1515 S St Sacramento, CA 95811
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1515 S St
    Sacramento, CA 95811
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1515 S St Sacramento, CA 95811
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jason Goff
    Real Estate License ID: 01205230
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!