Owner-User Office
For Sale
Contact for pricing
815 S Street, Sacramento, CA 95811
Owner-user office building with ample on-site parking and an open interior layout that can be reconfigured.
Property Size13,919 SF
Lot Size0.51 Acres
Price / SF$251.45
Days on Market121
Property Features for 815 S Street
General Information
Standard status
Active
Size
13,919 SF
Total Parking Spaces
30
Lot size
0.51 Acres
Property subtype
Office, Land, Special Purpose
Zoning
RMX-SPD (Residential Mixed Use/Special Planning District)
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1984
Buildings
1
Stories
2
Units
30
Tenancy
Single
Listing Agency:
CBRE - Sacramento
Listed By:
Tony Whittaker · License #CA 01780828
(916) 492-6914
Source:
Crexi
Added: May 11
Changed: Sep 7
Last Checked: Sep 8 at 8:35AM
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.
This owner-user office building offers approximately 13,919 square feet within an about 22,076 square foot site. The property features open interior architecture designed to be easily reconfigured, supported by ample on-site parking.
Located at 815 S Street in Sacramento’s Central Business District, the building is described as having quick and easy access to Midtown and other parts of the CBD. The surrounding area includes retail, residential, and governmental developments.
The remarks also note proximity to the State Capitol, Downtown Commons, Golden 1 Center, the newly expanded Sacramento Convention Center, and SAFE Credit Union Performing Arts Center, with the property positioned within walking distance of major downtown office buildings and state office buildings.
Located at 815 S Street in Sacramento’s Central Business District, the building is described as having quick and easy access to Midtown and other parts of the CBD. The surrounding area includes retail, residential, and governmental developments.
The remarks also note proximity to the State Capitol, Downtown Commons, Golden 1 Center, the newly expanded Sacramento Convention Center, and SAFE Credit Union Performing Arts Center, with the property positioned within walking distance of major downtown office buildings and state office buildings.
Key Highlights
- Owner‑user office building built in 1984 in Sacramento’s Central Business District.
- 13,919 SF office building on 22,076 SF of land on S Street between Eighth and Ninth Streets.
- Offered at $3,500,000 ($251/SF of net rentable area; $159/SF of land).
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
$189,635
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
5.42%
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%
$3,792,700
$3.8M
Cap Rate 7%
$2,709,071
$2.7M
Cap Rate 9%
$2,107,056
$2.1M
Market Conditions
NOI Build-Up for 13,919 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
$300.7K $21.60/SF
− Vacancy
−$47.8K −$3.43/SF
EGI
$252.8K $18.17/SF
− OpEx
−$63.2K −$4.54/SF
NOI
$189.6K $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 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%
$3,792,700
Cap Rate 7%
$2,709,071
Cap Rate 9%
$2,107,056
Alternative Uses
Best Use
Office B
$2.71M
$2.37M – $3.16M
NOI $189,635 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.74M
$3.27M – $4.36M
NOI $261,816 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,285
Businesses Nearby
Explore this area
Business Placement
Demographics for 95811, CA
12,463
Population
5,085
Households
2.5
Avg Household Size
37
Median Age
54%
College-Educated
93%
High-School Grad
2.3 sq mi
ZIP Area
5,419
Density / Sq Mi
$77,760
Median Household Income
$59,641
Median Earnings
$1,564
Median Rent
$707,900
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 building - Owner-user office building with ample on-site parking and an open interior layout that can be reconfigured.
Where is this office building located?
The property is located at 815 S Street Sacramento, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Owner‑user office building built in 1984 in Sacramento’s Central Business District.; 13,919 SF office building on 22,076 SF of land on S Street between Eighth and Ninth Streets.; Offered at $3,500,000 ($251/SF of net rentable area; $159/SF of land).
