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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Retail space
2415 23rd St Sacramento, CA 95818-2510
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-3074791
Property summary
AI-generated overview
This exceptional Class A office building, located at 2415 23rd St in Sacramento, CA 95818, presents a unique owner-user opportunity. The property, situated on a 3,200 square foot lot (APN 010-0223-001-0000), boasts 3,760 square feet of space spread across two stories within a single building. Currently vacant, this meticulously renovated (2017) traditional office building offers a blank canvas for a variety of uses, including office space, retail, or live/work arrangements. The building features updated electrical and plumbing systems, a new roof, and abundant natural light. Interior highlights include a fully equipped kitchen, private offices, and bathrooms complete with showers. The property is zoned C-1 SPD and benefits from a prime Midtown/Land Park location. The asking price is $995,000, translating to $264.63 per square foot. Built in 196, this property offers a blend of historic charm and modern functionality. This is an ideal opportunity for a business seeking a well-maintained, versatile space in a desirable Sacramento location.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1961
Construction
TILT-UP CONCRETE
Total area
3,760 SF
Lot
0.07 ac (3,200 SF)
Zoning code
C-1-SPD
APN
010-0223-001-0000
UPID
US09-3074791
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Elite Therapy Massage Alternative Medicine Practice Spa & Massage Center
-
Uptown Studios, Inc. Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$730k
CAP Approach
CAP
$895k
Comparable Approach
Comparable
$857k
Blend (final)
Blend
$760k
Owner & transaction history
Imagine Properties LLC · 1 yrs held
Imagine Properties LLC
since 2025
Last sale
$760,000
6 recorded transactions
Zoning & alternative use
C-1-SPD · Sacramento, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Zoning | City of Sacramento
Top alternative use upside
Neighborhood: shopping center
$1.2M
+66.0%
Auto repair, garage
$960,000
+35.4%
Medical building
$955,000
+34.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Sacramento submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sacramento submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$790,000
ML approach
$730,000
CAP Approach
CAP Return
Estimation
6%
$970,000
6.5%
$895,000
7%
$835,000
Alternative Use
Use
Estimation
RETAIL STORES
$710,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,180,000
Change: +66% · Conversion: Moderate
AUTO REPAIR, GARAGE
$960,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$955,000
Change: +35% · Conversion: Difficult
COMMERCIAL (GENERAL)
$890,000
Change: +25% · Conversion: Easy
OFFICE BUILDING
$690,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$760k
Range $684k – $836k · ±10% · vs last sale $760k (Apr 9 2025)
Last sale anchor
$760k
Apr 9 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$202 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$8,615
Tax year 2024
Assessed value
$670,312
Assessed 2024
Previous assessed
$670,312
+0.0% YoY
Effective rate
1.29%
On assessed value
Assessed land
$120,178
Assessed improvement
$550,134
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1961
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
2
Stories
1
Total area
3,760 SF
Lot
0.07 ac (3,200 SF)
Zoning code
C-1-SPD
APN
010-0223-001-0000
UPID
US09-3074791
Jurisdiction
SACRAMENTO
Zoning & alternative use
C-1-SPD · Sacramento, CAZoning C-1-SPD · permitted uses
C-1-SPD · Sacramento, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning | City of Sacramento
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$710,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$960,000
MEDICAL BUILDING
Est. value
$955,000
COMMERCIAL (GENERAL)
Est. value
$890,000
OFFICE BUILDING
Est. value
$690,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1961
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Buildings
2
Lot
0.07 ac
Current owner
From public records · entity-resolved
Imagine Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2420 D ST, SACRAMENTO, CA 95816-3004
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 9, 2025
$760,000
Imagine Properties LLC
Mary Christina Reynolds
Grant Deed
—
Jul 27, 2018
—
Moore-reynolds Trust
Reynolds,mary C
Quit Claim Deed
related
—
Mar 16, 2016
—
Mary Christina Reynolds
Mary Christina Reynolds
Intrafamily Transfer
related
$480,000 · Safe Cu
Jun 12, 2014
$340,000
Mary Christina Reynolds
Felix Dean Fong
Grant Deed
$268,800 · Safe Cu
Jun 12, 2014
—
Sandy F Whetstone
Whetstone,christopher J
Quit Claim Deed
related
—
Jul 14, 2000
—
Chin Trust
Chin,phillip & Evelyn
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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