Rancho Cordova Office/Flex
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3215 Prospect Park Dr, Rancho Cordova, CA 95670
102,000 SF Office/Flex building in Prospect Park sub-market.
Property Size101,000 SF
Price / SF$79
Days on Market946
Property Features for 3215 Prospect Park Dr
General Information
Standard status
Active
Size
101,000 SF
Property subtype
Office
Building Details
Stories
1
Listing Agency:
Ethan Conrad Properties Inc
(916) 779-1000
Listed By:
Ethan Conrad · License #CA 01298662
Source:
Crexi
Added: Jan 18, 2024
Changed: Aug 14
Last Checked: Aug 19 at 10:04PM
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 Ethan Conrad Properties Inc
Investment Insights
Based on property information with market context.
This approximately 102,000 square foot office/flex building is situated in the Prospect Park sub-market of Sacramento County, with a central location along Highway 50. Constructed in 1987 as part of Capital Center, the property benefits from its OPMU zoning, which accommodates a diverse range of uses. These include medical facilities, offices, schools, religious institutions, manufacturing, research and development, and gym or sports facilities. The location offers convenient access to Highway 50 via Zinfandel Drive and Sunrise Boulevard. Numerous retail and restaurant amenities are located nearby.
Key Highlights
- ±102,000 SF Office/Flex building.
- Excellent access to Hwy 50 via Zinfandel Drive and Sunrise Blvd.
- Zoned OPMU allowing for a variety of uses (medical, office, schools, religious institutions, manufacturing, R&D, gym/sports facilities).
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
$637,997
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
8.00%
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%
$12,759,940
$12.8M
Cap Rate 7%
$9,114,243
$9.1M
Cap Rate 9%
$7,088,856
$7.1M
Market Conditions
NOI Build-Up for 101,000 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
$969.6K $9.60/SF
− Vacancy
−$58.2K −$0.58/SF
EGI
$911.4K $9.02/SF
− OpEx
−$273.4K −$2.71/SF
NOI
$638.0K $6.32/SF
Area
Sacramento County, CA
Vacancy
6.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
30.00%
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%
$12,759,940
Cap Rate 7%
$9,114,243
Cap Rate 9%
$7,088,856
Alternative Uses
Best Use
Office B
$22.57M
$19.74M – $26.33M
NOI $1,579,551 @ 7.0% cap · market cap 19.80%
Second Best
Flex RnD
$21.86M
$19.13M – $25.51M
NOI $1,530,325 @ 7.0% cap · market cap 19.18%
Theoretical Best
Office A
$26.91M
$23.54M – $31.39M
NOI $1,883,477 @ 7.0% cap · market cap 23.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 95670, CA
57,988
Population
22,779
Households
2.5
Avg Household Size
38
Median Age
32%
College-Educated
89%
High-School Grad
12.9 sq mi
ZIP Area
4,495
Density / Sq Mi
$90,414
Median Household Income
$47,271
Median Earnings
$1,693
Median Rent
$463,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 102,000 SF Office/Flex building in Prospect Park sub-market.
Where is this office building located?
The property is located at 3215 Prospect Park Dr Rancho Cordova, CA.
What is the asking price?
The asking price for this property is $7,979,000.
What are key features of this property?
This property features: ±102,000 SF Office/Flex building.; Excellent access to Hwy 50 via Zinfandel Drive and Sunrise Blvd.; Zoned OPMU allowing for a variety of uses (medical, office, schools, religious institutions, manufacturing, R&D, gym/sports facilities).
