Remodeled Midtown Mixed-Use
For Sale
$2,600,000
2109 J Street, Sacramento, CA 95816
Four leased apartments accompany a vacant street-level retail suite with secured on-site parking.
Property Size6,400 SF
Price / SF$406.25
Days on Market451
Property Features for 2109 J Street
General Information
Standard status
Active
Size
6,400 SF
Total Parking Spaces
9
Property subtype
Mixed Use
Units
Unit Mix
4 x 1BR/1.5BA
Multifamily Units
4
Additional Details
Floor
Ground
Asking Price
$2,600,000
Amenities
A/C - Other
C-2-SPD
Public.
Building Details
Year Built
1911
Year Renovated
2019
Buildings
1
Stories
3
Tenancy
Single
Listing Agency:
Ken Turton, Broker
7100753
Listed By:
Jon Lang · License #01934934
7100753
Source:
Xome
Added: Jun 7, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:35PM
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 Ken Turton, Broker
Investment Insights
Based on property information with market context.
This three-story mixed-use property combines four one-bedroom apartments with a ground-floor retail component. Each residence offers 1, five? No — each apartment measures 988 SF and includes 1.5 bathrooms, hardwood flooring, granite countertops, custom wood cabinetry, stainless-steel appliances, in-unit full-size washers and dryers, and renovated kitchens and bathrooms. The retail area contains 2,058 square feet and is currently vacant for an owner-user or incoming tenant.
A comprehensive renovation completed in 2019 addressed the apartments, retail area, shared spaces, exterior stucco and paint, plumbing, electrical systems, and HVAC equipment. The property also provides 9 gated, lighted, secured parking stalls. Positioned on J Street in Midtown, it is one block from the MARRS Building, THIS is Midtown events, and the Midtown Farmer's Market, with restaurants and bars within walking distance. The property carries a C-2-SPD designation.
A comprehensive renovation completed in 2019 addressed the apartments, retail area, shared spaces, exterior stucco and paint, plumbing, electrical systems, and HVAC equipment. The property also provides 9 gated, lighted, secured parking stalls. Positioned on J Street in Midtown, it is one block from the MARRS Building, THIS is Midtown events, and the Midtown Farmer's Market, with restaurants and bars within walking distance. The property carries a C-2-SPD designation.
Key Highlights
- Four 988 SF one‑bedroom apartments, each with 1.5 bathrooms
- 2,058 square foot ground‑floor retail space is currently vacant
- All four residential units are leased
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
$100,531
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
3.87%
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%
$2,010,620
$2.0M
Cap Rate 7%
$1,436,157
$1.4M
Cap Rate 9%
$1,117,011
$1.1M
Market Conditions
NOI Build-Up for 6,400 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
$192.0K $30.00/SF
− Vacancy
−$9.2K −$1.44/SF
EGI
$182.8K $28.56/SF
− OpEx
−$82.3K −$12.85/SF
NOI
$100.5K $15.71/SF
Area
Sacramento, CA
Vacancy
4.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,010,620
Cap Rate 7%
$1,436,157
Cap Rate 9%
$1,117,011
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,531 @ 7.0% cap · market cap 3.87%
Second Best
Retail
$1.42M
$1.24M – $1.65M
NOI $99,258 @ 7.0% cap · market cap 3.82%
Theoretical Best
Specialty Retail
$1.72M
$1.50M – $2.01M
NOI $120,384 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,430
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four leased apartments accompany a vacant street-level retail suite with secured on-site parking.
Where is this mixed-use property located?
The property is located at 2109 J Street Sacramento, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Four 988 SF one‑bedroom apartments, each with 1.5 bathrooms; 2,058 square foot ground‑floor retail space is currently vacant; All four residential units are leased
