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 Market213
Property Features for 2724 24th Street
General Information
Standard status
Active
Size
3,224 SF
Property subtype
Multifamily
Site & Location
Neighborhood
Cabrillo Park Neighborhood Association
Listing Agency:
CBRE | Sacramento
Listed By:
Patrick Stelmach · License #01964999
(916) 446-8200
Source:
Cbre
Added: Mar 25
Changed: Oct 21
Last Checked: Oct 23 at 4:38AM
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
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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 / Yr
$43,924
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Sacramento, CA
Frequently Asked Questions
What type of property is this?
Office unit - Two-story commercial building with office and retail space.
Where is this office unit 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.
