NNN Office and Parking
2116 K, Sacramento, CA 95816
For Sale
$4,300,000
Fully leased Midtown office portfolio combines connected buildings with a separate parking parcel under a long-term triple-net lease.
Property Size9,600 SF
Price / SF$447.92
Days on Market53
Property Features for 2116 K
General Information
Standard status
Size
Net Rentable
Total Parking Spaces
Property subtype
Occupancy
Net Operating Income
Financials
Asking Price
Cap Rate
Site & Location
Neighborhood
Additional Details
Office Units
Amenities
Central air
Carpet Flooring
Central Cooling
Central Heating
Flat Roof
Building Details
Year Built
Buildings
Stories
Tenancy
Owner Occupied
Listing Agency:
KEN TURTON, BROKER
5733300
Listed By:
JON LANG · License #01934934
(916) 710-0753
Source:
Corcoran
Added: Sep 17
Changed: Nov 6
Last Checked: Nov 8 at 5:17AM
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
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Investment Insights
Based on property information with market context.
This NNN portfolio includes two contiguous, single-story office buildings at 2114 K Street and 2116 K Street, connected by an interior opening and totaling 9,600 rentable square feet. The offering also includes 2119 L Street, a separate 6,400-square-foot parking lot across the alley with 20 parking stalls, plus 10 additional stalls immediately behind 2116 K Street. The office improvements were built in 1970.
The entire property is 100% leased to Wilcoxen Callaham, LLP, a Sacramento-founded personal injury and malpractice law firm that has occupied the property for more than 47 years. The current lease runs through July 31, 2031, with one three-year extension option through July 2034 and 3% annual rent increases. The traditional triple-net structure requires reimbursement of operating expenses and nearly all maintenance and repair costs. The portfolio is located in Midtown Sacramento at 2116 K Street, near the MARRS Building, Midtown Farmer's Market, and Temple Coffee at 22K.
The entire property is 100% leased to Wilcoxen Callaham, LLP, a Sacramento-founded personal injury and malpractice law firm that has occupied the property for more than 47 years. The current lease runs through July 31, 2031, with one three-year extension option through July 2034 and 3% annual rent increases. The traditional triple-net structure requires reimbursement of operating expenses and nearly all maintenance and repair costs. The portfolio is located in Midtown Sacramento at 2116 K Street, near the MARRS Building, Midtown Farmer's Market, and Temple Coffee at 22K.
Key Highlights
- 9,600 rentable SF across two connected single‑story office buildings
- Separate 6,400‑square‑foot parking lot at 2119 L Street with 20 parking stalls
- 10 additional parking stalls immediately behind 2116 K Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,792
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,615,840
$2.6M
Cap Rate 7%
$1,868,457
$1.9M
Cap Rate 9%
$1,453,244
$1.5M
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$207.4K $21.60/SF
− Vacancy
−$33.0K −$3.43/SF
EGI
$174.4K $18.17/SF
− OpEx
−$43.6K −$4.54/SF
NOI
$130.8K $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%
$2,615,840
Cap Rate 7%
$1,868,457
Cap Rate 9%
$1,453,244
Alternative Uses
Best Use
Office B
$1.87M
$1.63M – $2.18M
NOI $130,792 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.58M
$2.26M – $3.01M
NOI $180,576 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,754
Businesses Nearby
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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
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Market
Properties on Market for NNN properties in Sacramento County
Vacancy Rate% for Office in Sacramento, CA
Frequently Asked Questions
What type of property is this?
NNN property - Fully leased Midtown office portfolio combines connected buildings with a separate parking parcel under a long-term triple-net lease.
Where is this nnn property located?
The property is located at 2116 K Sacramento, CA.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: 9,600 rentable SF across two connected single‑story office buildings; Separate 6,400‑square‑foot parking lot at 2119 L Street with 20 parking stalls; 10 additional parking stalls immediately behind 2116 K Street
