Mixed-Use Development
6531 Folsom Boulevard Sacramento, CA 95819
For Sale
$2,250,000
Leased commercial building with fully entitled mixed-use development project.
Property Size4,960 SF
Lot Size0.34 Acres
Price / SF$453.63
Days on Market123
Property Features for 6531 Folsom Boulevard
General Information
- Standard status
- Active
- Size
- 4,960 SF
- Lot size
- 0.34 Acres
- Property subtype
- Land
Listing Agency:
CBRE | Sacramento
(916) 446-8200
Listed By:
Patrick Stelmach · License #01964999
(916) 446-8200
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Jul 25 at 3:10AM
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 CBRE | Sacramento
Investment Insights
Based on property information with market context.
Located at 6531 Folsom Boulevard in Sacramento, California, this property presents an opportunity to acquire a leased commercial building with a fully-entitled development project. The site, situated on approximately 0.34 acres, has approved entitlements for Baobab Apartments, a 6-story mixed-use building. The apartment project consists of 56 units with a mix of 2-bed, 1-bed, and studio layouts. Designed with flexibility, the project can be developed as either market-rate multifamily or student housing with 66 beds. Planned amenities include a lounge, club room, bike room, a 2nd-floor courtyard, and common-use amenity space. On-site parking includes 16 vehicle stalls and 38 bicycle spaces. A retail space of 840 square feet is planned on the ground floor along Folsom Boulevard. The property is currently 100% leased to a single commercial tenant, Jet Black Tint, on a long-term NNN lease. The lease allows for early termination to demolish the building and begin apartment construction. The existing building, constructed in 1966, features approximately 1,800 square feet of showroom and office space and 3,160 square feet of dedicated warehouse space with a roll-up door accessible from the alley. It includes a large glass window line, exposed trusses throughout the warehouse, and corner visibility with monument signage. The property has 100 feet of street frontage along Folsom Blvd and 14 parking stalls. Located in East Sacramento, the site is near restaurants, cafes, schools, parks, grocery stores, CSU Sacramento, and the University/65th Street Light Rail Station. The proposed new building will be 53,100 SF mixed-use apartment building.
Key Highlights
- Fully entitled development project approved for a 6‑story, 56‑unit (or 66‑bed) mixed‑use apartment building (Baobab Apartments).
- Prime East Sacramento location, close to CSU Sacramento, light rail, restaurants, cafes, schools, parks, and grocery stores.
- Current income‑producing property (leased to Jet Black Tint) provides a 'covered land play' strategy with NNN lease and termination option for redevelopment.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $148.8k | $30.00 |
| − Vacancy | −$7.1k | −$1.44 |
| EGI | $141.7k | $28.56 |
| − OpEx | −$63.7k | −$12.85 |
| NOI | $77.9k | $15.71 |
4,960 SF · lease $30.00/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$973.9K – $1.30M
NOI $77,912 @ 7.0% cap · market cap 3.46%
Second Best
Retail
$1.10M
$961.6K – $1.28M
NOI $76,925 @ 7.0% cap · market cap 3.42%
Theoretical Best
Specialty Retail
$1.33M
$1.17M – $1.55M
NOI $93,298 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Capital Spas
Kitchen & Bath Showroom
FAQs
What type of property is this?
Mixed-use property - Leased commercial building with fully entitled mixed-use development project.
Where is this mixed-use property located?
The property is located at 6531 Folsom Boulevard Sacramento, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Fully entitled development project approved for a 6‑story, 56‑unit (or 66‑bed) mixed‑use apartment building (Baobab Apartments).; Prime East Sacramento location, close to CSU Sacramento, light rail, restaurants, cafes, schools, parks, and grocery stores.; Current income‑producing property (leased to Jet Black Tint) provides a 'covered land play' strategy with NNN lease and termination option for redevelopment.
