810 29th St Sacramento, CA 95816-4320

Property Details for 810 29th St

Year built

1982

Construction

WOOD

Lot size

0.07 lot acres

Property size

3,226 SF

Zone code

C-2-SPD

Property type

Medical offices

Property subtype

Medical centers

APN

007-0043-011-0000

APU

700430110000

Description

This exceptional Midtown Sacramento office building presents a unique investment opportunity. The 3,250 square foot, single-story building, constructed in 1980 and renovated in 210, boasts a prime location at 810 29th St, Sacramento, CA 95816, within a C-2 zoned lot spanning 6,400 square feet. Currently operating at 100% occupancy under a net lease with a single tenant, the property offers a substantial net operating income (NOI) of $97,175, translating to a compelling 6.50% cap rate. The lease, commencing June 1, 2019, and expiring June 1, 2029, includes two five-year renewal options at fair market value and features annual rent bumps of 2%. Seven parking spaces are available on-site. This investment is further enhanced by the potential for seller financing up to $1,000,000 at 5.00% interest for two years, or alternative bank financing at 4.95%. The property's versatility caters to various uses, including creative, medical, and traditional office spaces, making it an attractive proposition for both investors and owner-users. The building's APN is 007-0043-011 and 012. This is a rare opportunity to acquire a high-performing asset in a desirable Midtown Sacramento location. The asking price is $1,495,000.

Location Insight

City

Sacramento

County

Sacramento

State

California

Longitude

-121.467

Latitude

38.5754

CBSA code

40900

CBSA name

SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments