2031 K Street
2031 K Street
Use: Office / Retail
Lease or Sale: Sale
Building Size: ±7,614 SF Sale Price: $3,600,000
Turton Commercial is pleased to present the opportunity to acquire fee simple interest in a two-property portfolio located at 2031 K Street and 2015 K Street, Sacramento (the “Property”). The Property is being offered for $3,600,000 which represents a 5.6% acquisition capitalization rate on existing income.
2031 K Street is comprised of a stand-alone, 7,614 SF commercial office situated on an approximate 12,800 SF parcel of land. In addition to the building, this parcel of land includes 19 on-site parking stalls accessible off both K Street and 21st Street. The building is currently 100% leased to two tenants: 3Fold Communications and Wells Fargo Bank. 2015 K Street, located just west of 2031 K Street, is a 12,800 SF parking lot with 36 stalls which are leased to the tenants of several neighboring commercial buildings. While the Property aesthetic is quite attractive, perhaps no aspect of the Property is more notable or valuable than its location on the Northwest corner of 21st and K Street with daily traffic counts exceeding 17,000 cars.
The landmark Property is located in the heart of the Lavender District just a stones throw away from the MARRS building, the home of the Midtown Farmer’s Markets, and ground zero for “THIS is Midtown” Second Saturday events. In fact, the area closely surrounding the Property has become so desirable, to both property owners and tenants, that only three notable commercial sale transactions have occurred within a one-block radius of the Property over the last decade. It goes without saying that this a unique and rare acquisition opportunity.
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Use: Retail / Office / Restaurant
Lease or Sales: Lease
Leasable SF: 3,162 - 7,143 SF
Lease Rate: $1.50 - 3.50 SF/Month
Lot Size: 2.56 acres
Lease or Sales: Lease & Sale
Sale Price: $17,000,000