University-Adjacent Retail
For Sale
Contact for pricing
6400 Elvas Ave, Sacramento, CA 95819
Existing building offers adaptive reuse potential near Sacramento State and established residential surroundings.
Property Size5,200 SF
Price / SF$331.73
Days on Market146
Property Features for 6400 Elvas Ave
General Information
Standard status
Active
Size
5,200 SF
Total Parking Spaces
8
Property subtype
Retail
Zoning
RMX-TO-SPD
Investment Type
Redevelopment
Net Operating Income
$207,480
Site & Location
Corner Location
Yes
Traffic Count
15,800 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1991
Buildings
1
Stories
1
Listing Agency:
Turton Commercial Real Estate
(916) 573-3309
Listed By:
Kaylyn Ibarra · License #02350645
Source:
Crexi
Added: Apr 7
Changed: Aug 30
Last Checked: Aug 30 at 6:10AM
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 Turton Commercial Real Estate
Investment Insights
Based on property information with market context.
The property includes an approximately 5,200-square-foot building constructed in 1991 and positioned for conversion to a two-tenant retail format. A conceptual layout contemplates two approximately 2,600-square-foot suites suited to food and beverage, service retail, or other neighborhood-serving commercial uses. RMX-TO-SPD zoning provides flexibility for retail and related redevelopment concepts.
Located at the corner of 65th Street and Elvas Avenue, the property is approximately 0.2 miles from the western edge of Sacramento State and less than 200 feet from Hornet Crossing, the university’s primary west-side pedestrian entry. The site is also approximately 0.3 miles from the U.S. 50/65th Street interchange, with direct access toward downtown Sacramento, East Sacramento, and the regional freeway network. Reported exposure includes approximately 15,800 vehicles per day, while more than 4,600 student housing beds are within a half-mile radius.
Located at the corner of 65th Street and Elvas Avenue, the property is approximately 0.2 miles from the western edge of Sacramento State and less than 200 feet from Hornet Crossing, the university’s primary west-side pedestrian entry. The site is also approximately 0.3 miles from the U.S. 50/65th Street interchange, with direct access toward downtown Sacramento, East Sacramento, and the regional freeway network. Reported exposure includes approximately 15,800 vehicles per day, while more than 4,600 student housing beds are within a half-mile radius.
Key Highlights
- Approximately 5,200‑square‑foot building constructed in 1991
- Conceptual two‑tenant format with two approximately 2,600‑square‑foot suites
- RMX‑TO‑SPD zoning supports retail and related redevelopment concepts
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
$80,647
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
4.68%
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%
$1,612,940
$1.6M
Cap Rate 7%
$1,152,100
$1.2M
Cap Rate 9%
$896,078
$896.1K
Market Conditions
NOI Build-Up for 5,200 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
$122.3K $23.52/SF
− Vacancy
−$7.1K −$1.36/SF
EGI
$115.2K $22.16/SF
− OpEx
−$34.6K −$6.65/SF
NOI
$80.6K $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%
$1,612,940
Cap Rate 7%
$1,152,100
Cap Rate 9%
$896,078
Alternative Uses
Best Use
Retail
$1.15M
$1.01M – $1.34M
NOI $80,647 @ 7.0% cap · market cap 4.68%
Second Best
Office B
$1.01M
$885.6K – $1.18M
NOI $70,846 @ 7.0% cap · market cap 4.11%
Theoretical Best
Specialty Retail
$1.40M
$1.22M – $1.63M
NOI $97,812 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15,800 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 95819, CA
20,812
Population
8,936
Households
2.3
Avg Household Size
36
Median Age
68%
College-Educated
97%
High-School Grad
3.6 sq mi
ZIP Area
5,781
Density / Sq Mi
$127,500
Median Household Income
$69,922
Median Earnings
$2,007
Median Rent
$716,000
Median Home Value
Market
Vacancy Rate% for Office in Sacramento, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Existing building offers adaptive reuse potential near Sacramento State and established residential surroundings.
Where is this retail space located?
The property is located at 6400 Elvas Ave Sacramento, CA.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Approximately 5,200‑square‑foot building constructed in 1991; Conceptual two‑tenant format with two approximately 2,600‑square‑foot suites; RMX‑TO‑SPD zoning supports retail and related redevelopment concepts
