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    Ice Blocks Sacramento, CA 94204

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    For Lease
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    Midtown Sacramento Office Space

    Lot size:
    94,204 SF

    Property Features for 0 Ice Blocks

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    94,204 SF
    Total Rate
    376816

    Spaces For Lease

    at 0 Ice Blocks, Sacramento, CA 94204 Contact us
    Unit Suite 120

    $48 /Mo

    Size
    840 SF
    Contact us
    Unit Suite 145

    $48 /Mo

    Size
    2,866 SF
    Contact us

    We can help!

    Listing Contact
    Scott Kingston

    Listing Agency: Turton Commercial Real Estate Listing Agent: Scott Kingston

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional opportunity presents prime executive office space within the vibrant Ice Blocks development in Sacramento's Midtown district. Located in the historic R Street Corridor, this mixed-use project boasts 94,204 square feet, offering multiple tenancy options. Currently, 3,726 square feet of vacant space is available, divisible into units as small as 840 square feet and up to a contiguous 2,886 square feet. The Ice Blocks is renowned for its contemporary architecture, public art, and community gathering spaces, creating a dynamic and attractive environment for businesses. The surrounding area features 70,000 square feet of retail space, including a diverse collection of boutiques and restaurants, along with 145 luxury apartments and 100,000 square feet of creative office space. This thriving location benefits from its proximity to hundreds of new residential units added in the last five years, solidifying Midtown's position as a highly walkable and desirable neighborhood. Midtown Sacramento is nationally recognized for its farm-to-fork movement and boasts over 100 restaurants and eateries. The Ice Blocks' location within the historic R Street Corridor, once a railroad and industrial hub, adds to its unique character and appeal. This revitalized area now offers a blend of high-end retail, dining, entertainment, and art, making it an ideal location for businesses seeking a vibrant and prestigious address. The property's blend of modern amenities and historic charm provides a unique and attractive workspace. This is a rare opportunity to secure office space in one of Sacramento's most sought-after locations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Sacramento
    County
    Sacramento
    State
    California
    Longitude
    -121.45
    Latitude
    38.6

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    FAQs

    What type of property is this?
    Office property - Midtown Sacramento Office Space
    Where is this office property located?
    The property is located at Ice Blocks Sacramento, CA.
    What is the lease rate?
    The lease rate is $48 SF/Yr.
    What are key features of this property?
    This property features: Retail and office space in Sacramento County's Ice Blocks development.; 94,204 total square feet, with 3,726 square feet currently vacant.; Divisible spaces ranging from 840 to 2,886 contiguous square feet.
    Request Owner's contact information
    Ice Blocks Sacramento, CA 94204
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    Sacramento, CA 94204
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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
    Ice Blocks Sacramento, CA 94204
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