Two-Story Commercial Building in Curtis
For Sale
$499,231
2724 24th Street, Sacramento, CA 95818
Two-story commercial building with office and retail space.
Property Size3,224 SF
Price / SF$154.85
Days on Market156
Property Features for 2724 24th Street
General Information
Standard status
Active
Size
3,224 SF
Property subtype
Multifamily
Listing Agency:
CBRE - Sacramento
(916) 446-8200
Listed By:
Patrick Stelmach · License #01964999
(916) 446-8200
Source:
Cbre
Added: Mar 25
Changed: Aug 24
Last Checked: Aug 26 at 6:39AM
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 CBRE - Sacramento
Investment Insights
Based on property information with market context.
This two-story commercial building in Curtis Park offers approximately 3,224 square feet of space, with 1,610 square feet on the first floor and 1,614 square feet on the second floor. The first floor features an open gym area and restroom, currently occupied by a holistic wellness center offering private training, yoga, and weight loss programs. The second floor is vacant office space, containing four private offices, an open work area, two storage rooms, and a server room, with plumbing for a bathroom and kitchen. The building benefits from excellent visibility on 24th Street and 2nd Avenue, thoroughfares connecting Curtis Park to Land Park, Oak Park, Midtown, Downtown, and East Sacramento. Large east-facing windows and skylights provide ample natural light. The property is located near Cafe Dantorels and Sierra 2 Center, with close proximity to restaurants, amenities, employment centers, parks, schools, entertainment, bike trails, and shopping. It also offers easy access to Hwy 50, Hwy 99, I-80, and I-5. There is potential for residential conversion in Curtis Park.
Key Highlights
- Residential conversion opportunity in Curtis Park (family‑friendly neighborhood).
- Excellent visibility to 24th Street and 2nd Avenue.
- Potential to convert to apartments.
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
$43,924
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
8.80%
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%
$878,480
$878.5K
Cap Rate 7%
$627,486
$627.5K
Cap Rate 9%
$488,044
$488.0K
Market Conditions
NOI Build-Up for 3,224 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
$69.6K $21.60/SF
− Vacancy
−$11.1K −$3.43/SF
EGI
$58.6K $18.17/SF
− OpEx
−$14.6K −$4.54/SF
NOI
$43.9K $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 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%
$878,480
Cap Rate 7%
$627,486
Cap Rate 9%
$488,044
Alternative Uses
Best Use
Office B
$627.5K
$549.1K – $732.1K
NOI $43,924 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$866.3K
$758.0K – $1.01M
NOI $60,643 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 95818, CA
22,375
Population
11,301
Households
2
Avg Household Size
39
Median Age
62%
College-Educated
93%
High-School Grad
3.9 sq mi
ZIP Area
5,737
Density / Sq Mi
$120,509
Median Household Income
$72,803
Median Earnings
$1,650
Median Rent
$768,700
Median Home Value
Market
Vacancy Rate% for Office in Sacramento, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Two-story commercial building with office and retail space.
Where is this office units located?
The property is located at 2724 24th Street Sacramento, CA.
What is the asking price?
The asking price for this property is $499,231.
What are key features of this property?
This property features: Residential conversion opportunity in Curtis Park (family‑friendly neighborhood).; Excellent visibility to 24th Street and 2nd Avenue.; Potential to convert to apartments.
