Historic Corner Storefront
For Sale
Contact for pricing
1731 L Street, Sacramento, CA 95816
Five tenants occupy the property under modified gross leases, with C-2 General Commercial zoning.
Property Size5,250 SF
Lot Size0.08 Acres
Price / SF$380
Days on Market16
Property Features for 1731 L Street
General Information
Standard status
Active
Size
5,250 SF
Lot size
0.08 Acres
Property subtype
Retail
Zoning
C-2 (General Commercial)
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$119,721
Additional Details
Asking Price
$1,995,000
Corner Location
Yes
Building Details
Year Built
1920
Year Renovated
1946
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
JACKS Commercial Real Estate - Sacramento
(916) 837-3456
Listed By:
Brian Jacks · License #CA 01217349
Source:
Crexi
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 5:47PM
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 JACKS Commercial Real Estate - Sacramento
Investment Insights
Based on property information with market context.
This 1920-built storefront property combines approximately 5,250 gross SF with 4,600 net SF on a 3,400 SF parcel. The building includes a Victorian-era component and occupies the corner at 1731 L Street and 1124 18th Street. Five retail and service-oriented tenants currently occupy the property under modified gross leases, and the asset is 100% leased.
The property is situated in Midtown Sacramento, within a walkable urban setting surrounded by restaurants, nightlife, retail, residential development, and neighborhood amenities. The Midtown Farmers Market is two blocks away, while Aioli, Crepeville, and Pazza Notte occupy the other three corners of the intersection. More than 4,300 new residential units have been added to Midtown since 2017. Zoning is C-2 (General Commercial), and the projected capitalization rate is 6.0%.
The property is situated in Midtown Sacramento, within a walkable urban setting surrounded by restaurants, nightlife, retail, residential development, and neighborhood amenities. The Midtown Farmers Market is two blocks away, while Aioli, Crepeville, and Pazza Notte occupy the other three corners of the intersection. More than 4,300 new residential units have been added to Midtown since 2017. Zoning is C-2 (General Commercial), and the projected capitalization rate is 6.0%.
Key Highlights
- 100% leased to five retail and service‑oriented tenants
- Approximately 5,250 gross SF / 4,600 net SF on a 3,400 SF parcel
- Victorian‑era component within a 1920‑built storefront property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$81,423
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,628,460
$1.6M
Cap Rate 7%
$1,163,186
$1.2M
Cap Rate 9%
$904,700
$904.7K
Market Conditions
NOI Build-Up for 5,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$123.5K $23.52/SF
− Vacancy
−$7.2K −$1.36/SF
EGI
$116.3K $22.16/SF
− OpEx
−$34.9K −$6.65/SF
NOI
$81.4K $15.51/SF
Area
Sacramento, CA
Vacancy
5.80%
Lease Rate
$23.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,628,460
Cap Rate 7%
$1,163,186
Cap Rate 9%
$904,700
Alternative Uses
Best Use
Retail
$1.16M
$1.02M – $1.36M
NOI $81,423 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.41M
$1.23M – $1.65M
NOI $98,753 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Retail in Sacramento, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Five tenants occupy the property under modified gross leases, with C-2 General Commercial zoning.
Where is this storefront property located?
The property is located at 1731 L Street Sacramento, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 100% leased to five retail and service‑oriented tenants; Approximately 5,250 gross SF / 4,600 net SF on a 3,400 SF parcel; Victorian‑era component within a 1920‑built storefront property
