211 N 16th Street
211 N 16th Street
Region: North Sacramento
Use: Industrial / Retail
Lease or Sale: Sale
Building Size: ±45,887 SF Sale Price: $3,250,000
Turton Commercial Real Estate is pleased to offer the iconic Ruland property portfolio for sale. The portfolio includes four buildings totaling 45,887 square feet of industrial/office/retail that are located on eight parcels totaling 73,600 square feet of commercially zoned land. The largest building is the immediately recognizable Ruland’s Office Supply building located at 211 N. 16th Street with over 25,000SF of brick masonry and wood frame building situated on the signalized hard corner of 16th & North B Street. The remaining three buildings and parcels are located at 1610-1616 N. C Street. The site offers three remaining structures with high quality and distinct architectural elements as well as a surface lot that can accommodate parking or infill development. The portfolio is located in the heart Sacramento’s most dynamic infill development submarket with over THREE BILLION in investment underway.
The Subject Property is situated within an Opportunity Zone and on a 1.69 acre parcel and being offered at a price of $3,250,000 representing a $70 per building square foot and $44 per land square foot acquisition. The Property represents a true value-add opportunity for a range of commercial real estate investors: industrial add-value buyer, adaptive re-use for creative urban infill, infill development and much more. The Opportunity Zone tax advantages as well as the surrounding investment into the corridor present a truly unique purchase opportunity for the astute developer and/or investor.
The multiple buildings with distinct architectural features and adjoining surface lots allow for one large project or multiple smaller projects. Sacramento continues to benefit from a significant migration from more expensive metros. The considerable development and investment into this submarket has cemented the trajectory of this part of Sacramento. There hasn’t been a better time to be a part of this dynamic and growing submarket.
You might also like:
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