Office Space with Retail
For Sale
Contact for pricing
700 L Street 4th Floor, Sacramento, CA 95816
Turnkey tenant improvements are available in an office space with high ceilings, strong natural light, and adjacent parking.
Property Size8,000 SF
Price / SF$429.25
Days on Market55
Property Features for 700 L Street 4th Floor
General Information
Standard status
Active
Size
8,000 SF
Class
A
Property subtype
Office
Zoning
C-3-SPD Central Business District / Special Planning District
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1975
Buildings
1
Stories
4
Tenancy
Single
Listing Agency:
Turton Commercial Real Estate
(916) 474-5024
Listed By:
Ken Turton · License #CA 01219637
Source:
Crexi
Added: Jul 8
Changed: Aug 31
Last Checked: Aug 30 at 7:21PM
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.
700 L Street offers distinctive office space within Sacramento’s Central Business District, with high ceilings and excellent natural light. Ownership is providing turnkey tenant improvements from shell, and the space can also support retail-oriented concepts given the building’s visibility and potential for high-visibility signage.
Parking is available at market rates directly adjacent to the building. The property is located approximately four blocks from the State Capitol and four blocks from City Hall, with close proximity to Golden 1 Center and DoCo, the Sacramento Convention Center, and the city’s largest public parking garage, along with walkable access to major hotels.
For office users, ownership is offering the ability to occupy an entire floor, a configuration that is described as rarely available at the 6,000–8,000 square foot threshold in Downtown Sacramento.
Parking is available at market rates directly adjacent to the building. The property is located approximately four blocks from the State Capitol and four blocks from City Hall, with close proximity to Golden 1 Center and DoCo, the Sacramento Convention Center, and the city’s largest public parking garage, along with walkable access to major hotels.
For office users, ownership is offering the ability to occupy an entire floor, a configuration that is described as rarely available at the 6,000–8,000 square foot threshold in Downtown Sacramento.
Key Highlights
- 1975‑built office/retail space in Sacramento’s Central Business District
- High ceilings and strong natural light
- Turnkey tenant improvements available from shell for office users
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
$124,073
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
3.61%
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%
$2,481,460
$2.5M
Cap Rate 7%
$1,772,471
$1.8M
Cap Rate 9%
$1,378,589
$1.4M
Market Conditions
NOI Build-Up for 8,000 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
$188.2K $23.52/SF
− Vacancy
−$10.9K −$1.36/SF
EGI
$177.2K $22.16/SF
− OpEx
−$53.2K −$6.65/SF
NOI
$124.1K $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%
$2,481,460
Cap Rate 7%
$1,772,471
Cap Rate 9%
$1,378,589
Alternative Uses
Best Use
Retail
$1.77M
$1.55M – $2.07M
NOI $124,073 @ 7.0% cap · market cap 3.61%
Second Best
Office B
$1.56M
$1.36M – $1.82M
NOI $108,994 @ 7.0% cap · market cap 3.17%
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,480 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,276
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Sacramento, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Turnkey tenant improvements are available in an office space with high ceilings, strong natural light, and adjacent parking.
Where is this office units located?
The property is located at 700 L Street 4th Floor Sacramento, CA.
What is the asking price?
The asking price for this property is $3,434,000.
What are key features of this property?
This property features: 1975‑built office/retail space in Sacramento’s Central Business District; High ceilings and strong natural light; Turnkey tenant improvements available from shell for office users
