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    Midtown Mixed-Use Investment Opportunity Title is generated by Realmo AI

    2012 K St, Sacramento, CA 95814

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    Mixed-use property in Midtown's vibrant retail and entertainment corridor.

    Type:Retail, Office, Mixed Use
    Property size:
    12,800 SF
    Price / SF:
    $257/SF
    Added:
    May 2, 2024
    Days on Market:
    765
    Last Refresh:
    May 12 at 9:18 pm

    Property Features for 2012 K St

    General Information

    Standard status
    Active
    Size
    12,800 SF
    Property subtype
    Retail, Office, Mixed Use

    Building Details

    Year Built
    1947

    We can help!

    Listing Contact
    Scott Kingston

    Listing agent Scott Kingston License #CA

    Listing office Turton Commercial Real Estate

    Listing date May 2, 2024

    Source Crexi

    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

    HighLights

    • Prime Midtown location in a vibrant retail and entertainment corridor
    • Mixed‑use property with first‑floor retail and second‑story creative office space
    • Opportunity for owner‑user or investor
    • Creative office space features hardwood floors, outdoor patios, skylights, and ample natural light
    • Potential for a 7.3% capitalization rate once fully stabilized
    • Includes a ± 1,273 SF 'back of house' warehouse space with a roll‑up door

    Overview

    Located in the heart of Midtown Sacramento's retail and entertainment corridor, this mixed-use property offers approximately 5,435 square feet of first-floor retail space, including two recently leased suites and one 4,162-square-foot second-generation retail suite. Additionally, there is a 1,273-square-foot warehouse space with a roll-up door providing access to the K Street/L Street alley. The retail spaces benefit from exposure to Midtown's Saturday farmers market. The second story features approximately 6,800 square feet of creative office space, accessible directly from K Street via an exclusive lobby and elevator. This office space includes hardwood floors, outdoor patios, and skylights that provide natural light. This property is located in Midtown, known for its blend of local, national, and regional retailers, eclectic mix of high-end demographic occupations, unique older buildings, and mature trees. The Lavender Heights neighborhood, one block away, features restaurants, art galleries, coffee houses, and boutiques. The property is within walking distance of amenities such as Temple Coffee, N Street Café, Jack's Urban Eats, and the MARRS Building.

    Local Financial Insights For Retail

    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 $301.1k $23.52
    − Vacancy −$17.5k −$1.36
    EGI $283.6k $22.16
    − OpEx −$85.1k −$6.65
    NOI $198.5k $15.51
    12,800 SF · lease $23.52/SF/yr · vacancy 5.80% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $2.84M
    $2.48M – $3.31M (±1% cap)
    NOI $198,516 @ 7.0% cap · market cap 6.02%
    Second Best
    Mixed Use
    $2.52M
    $2.21M – $2.94M (±1% cap)
    NOI $176,640 @ 7.0% cap · market cap 5.35%
    Theoretical Best
    Specialty Retail
    $3.44M
    $3.01M – $4.01M (±1% cap)
    NOI $240,768 @ 7.0% cap · market cap 7.30%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wise Axe Nightclub Axe Midtown Gym & Fitness Center Apex Painting & Drywall Painting Council of Infill Builders Construction Company

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Law Firm Building Supply Daycare Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Sacramento
    County
    Sacramento
    State
    California
    Longitude
    -121.479915
    Latitude
    38.575113

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in Midtown's vibrant retail and entertainment corridor.
    Where is this mixed-use property located?
    The property is located at 2012 K St Sacramento, CA.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: Prime Midtown location in a vibrant retail and entertainment corridor; Mixed‑use property with first‑floor retail and second‑story creative office space; Opportunity for owner‑user or investor
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Scott Kingston
    Real Estate License ID: CA
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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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