1000 K Street
Downtown
1000 K Street
Region: Downtown
Use: Retail / Restaurant
Lease or Sale: Sale
Building Size: ±29,501 SF
Sale Price: $6,500,000
Reduced sale price to $6,500,000!
Turton Commercial Real Estate and Marcus & Millichap are pleased to present the opportunity to purchase 1000 K Street, located in the epicenter of Downtown Sacramento’s K Street Entertainment District and nestled in the heart of the Governmental Affairs District. 1000 K Street, located in a Federal Opportunity Zone, is an architecturally extraordinary, ±29,501 square foot two (2) story building, 100% leased to four (4) of Downtown Sacramento’s most popular and successful restaurant and entertainment tenants.
The Property is being offered at $6,500,000 based upon a projected 2024 NOI of $726,640.37 (based upon leases in place) with a 11.18% projected cap rate.
Purchased in 2006 as a two (2) story long vacant historic Woolworth’s department store building, the Property has undergone a top to bottom transformation into part of urban Sacramento’s cultural fabric. The Property has been, and is, a highly reliable investment and widely considered to be located at ground zero of Sacramento’s exciting revitalized urban entertainment experience.
1000 K Street is also for sublease.