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    East Sacramento Multi-Story Office Building Title is generated by Realmo AI

    722 Alhambra, Sacramento, CA 95816

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    Claim this Listing
    For Sale
    $1,399,000

    Income-producing office building in a sought-after urban neighborhood.

    Type:Commercial
    Property size:
    5,320 SF
    Price / SF:
    $262/SF
    Added:
    Apr 7, 2026
    Days on Market:
    55
    Last Refresh:
    Apr 8 at 8:08 pm

    Property Features for 722 Alhambra

    General Information

    Standard status
    Active
    Size
    5,320 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1952

    We can help!

    Listing Contact
    CHASE BURKE

    Listing agent CHASE BURKE

    Listing office ROME REAL ESTATE GROUP, INC.

    Listing date Apr 7, 2026

    Source Corcoran

    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 ROME REAL ESTATE GROUP, INC.

    HighLights

    • Prime location in East Sacramento's Alhambra corridor.
    • Adjacent to McKinley Park, offering access to amenities.
    • Income‑producing multi‑story office building with established tenants.
    • Walking distance to Michelin Guide‑recognized restaurants and cafes.
    • Easy access to Business 80 and Highway 50.
    • Flexible OB‑SPD zoning allows for a range of occupancies.

    Overview

    Located on Alhambra Boulevard in East Sacramento, this multi-story office building offers an opportunity for owner-users or investors. The 5,320 square foot complex is situated in a historically stable, high-income corridor. The property is near McKinley Park, a 32-acre landmark featuring a rose garden, farmers market, community pool, and year-round events. Several restaurants and cafes are within walking distance. The building is currently 75% leased to tenants in health services and law, providing income with potential for increased revenue from the remaining vacancy. The OB-SPD zoning (Office Business Low-Rise Mixed-Use Special Planning District) allows for a range of professional and mixed-use occupancies. With access to Business 80 and Highway 50, the property provides convenient access to Downtown, Midtown, and the greater metro area. Traffic counts are 15,806 ADT at H St Alhambra Blvd and 179,788 ADT on Capital City Freeway. The surrounding area of East Sacramento features tree-lined streets and a median household income exceeding $109,000.

    Local Financial Insights For Office B

    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 $114.9k $21.60
    − Vacancy −$18.3k −$3.43
    EGI $96.6k $18.17
    − OpEx −$24.2k −$4.54
    NOI $72.5k $13.62
    5,320 SF · lease $21.60/SF/yr · vacancy 15.90% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.04M
    $906.0K – $1.21M (±1% cap)
    NOI $72,481 @ 7.0% cap · market cap 5.18%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $1.43M
    $1.25M – $1.67M (±1% cap)
    NOI $100,069 @ 7.0% cap · market cap 7.15%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Aspire Foundation Charitable Organization The Middleway Gallery Art Gallery

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sacramento
    County
    Sacramento
    State
    California
    Longitude
    -121.4643302
    Latitude
    38.5754986

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    FAQs

    What type of property is this?
    Office building - Income-producing office building in a sought-after urban neighborhood.
    Where is this office building located?
    The property is located at 722 Alhambra Sacramento, CA.
    What is the asking price?
    The asking price for this property is $1,399,000.
    What are key features of this property?
    This property features: Prime location in East Sacramento's Alhambra corridor.; Adjacent to McKinley Park, offering access to amenities.; Income‑producing multi‑story office building with established tenants.
    9322199
    We can help!
    Listing Contact
    CHASE BURKE
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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