Midtown Sacramento Two-Story Office
1016 23rd street Sacramento, CA 95816
1016 23rd street, Sacramento, CA, 95816
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For Sale
Contact for pricing
2,962 SF office building in the heart of Midtown.
Property Size2,962 SF
Price / SF$335.92
Days on Market695
Property Features for 1016 23rd street
General Information
- Standard status
- Active
- Size
- 2,962 SF
- Property subtype
- Office
Building Details
- Year Built
- 1967
Listing Agency
Turton Commercial Real Estate
(916) 474-5024
Listed by
Kaylyn Ibarra · License #02350645
Source
Crexi
Added: Aug 24, 2024 Checked: Jul 17 at 11:43 am
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.
This 2,962 square foot, two-story office building is located in the heart of Midtown Sacramento. The property offers a blend of creative office space and amenities in the central city. On-site parking and improvements are designed to attract talent, whether for the owner's business or for leasing. The Midtown location places the building at the center of Sacramento’s business community, surrounded by entrepreneurs and established companies. The location provides access to dining, shopping, entertainment, and cultural attractions. A Midtown address elevates business prestige and credibility. Owning the space provides stability, shielding the business from rising rental costs and lease renewal uncertainties. The property is located at 1016 23rd Street.
Key Highlights
- Prime Midtown Sacramento location, offering unparalleled access to dining, shopping, entertainment, and cultural attractions.
- Turn‑key, two‑story office building with 2,962 square feet of creative office space.
- On‑site parking available.
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 | $64.0k | $21.60 |
| − Vacancy | −$10.2k | −$3.43 |
| EGI | $53.8k | $18.17 |
| − OpEx | −$13.5k | −$4.54 |
| NOI | $40.4k | $13.62 |
2,962 SF · lease $21.60/SF/yr · vacancy 15.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$576.5K
$504.4K – $672.6K
NOI $40,355 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$795.9K
$696.4K – $928.6K
NOI $55,715 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Amplified Business Services
Accounting Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - 2,962 SF office building in the heart of Midtown.
Where is this office building located?
The property is located at 1016 23rd street Sacramento, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime Midtown Sacramento location, offering unparalleled access to dining, shopping, entertainment, and cultural attractions.; Turn‑key, two‑story office building with 2,962 square feet of creative office space.; On‑site parking available.
