714 14th Street


714 14th Street

Region: Downtown
Use: Land / Parking
Lot Size: .064 acres
Lease or Sale: Sale
Sale Price: $310,000

714 14th Street is a paved, striped parking lot with 16 tandem parking stalls, conveniently accessed from Government Alley. The lot is approximately 2,800 square feet of C-2 Zoned land centrally located with proximity to Sacramento Convention Center Complex, Theatre District, K Street, California State Capitol, City Hall, and County Courthouse.

Parking is a premium luxury in Downtown Sacramento. Within a third of a mile of the Property, there are 4 million square feet of office space, over 1,400 multifamily apartments and 381 new units under construction. As a result, demand for parking is higher than ever from tenants, office users, restaurants and theatre goers. The adjacent Sacramento Theatre Company / Broadway Sacramento holds more than 300 performances and entertains over 250,000 patrons every year. Parking rates in the area range from $115 to $200 per stall per month, which could be leased to nearby apartment residents, office workers, or retailers.

The Property is also a high quality urban infill opportunity. The parcel is a 70 foot long by 40 foot lot with alley access providing several feasible options to further increase the cash flow and enhance the value of the asset. The configuration of the lot offers a possible future infill development opportunity of residential units, such as, a single family residences, townhomes, and/or a duplex apartment building with parking garage underneath. Active developments, nearby amenties, proximity to Civic Center and Entertainment District, convenient access to major thoroghfares as well as walking distance to countless amenities.

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