1016 23Rd StSacramento, CA 95816

Property Details for 1016 23Rd St

Year built

1967

Construction

WOOD

Lot size

0.07 AC

Property size (Sq ft)

2,963 SF

Zone code

C-2-SPD

Property type

Office properties

Property subtype

Office buildings

APN

007-0093-012-0000

APU

700930120000

Description

This exceptional two-story creative office building, located at 1016 23rd Street in Sacramento's vibrant Midtown, presents a unique investment opportunity. Boasting 2,963 square feet, the property features approximately 1481 square feet on each floor, offering ample space for a variety of business needs. Completely renovated in 2023, this turn-key property is ready for immediate occupancy. The building sits on a 3,200 square foot lot and is zoned C-2 SPD, providing flexibility for various commercial uses. The asking price is $1,095,000, translating to $370 per square foot. Built in 1967, the property benefits from recent upgrades, offering modern amenities while retaining character. On-site parking is available, a significant advantage in the bustling Midtown area. The property's prime location places it at the heart of Sacramento's dynamic business community, surrounded by diverse dining, shopping, and entertainment options, attracting top talent. Ownership offers long-term stability, shielding against rising rental costs, and provides the opportunity to build equity and potentially benefit from tax advantages. Utilities are serviced by SMUD (electricity) and PG&E (gas). The property's APN is 007-0093-0125. This is an ideal opportunity to establish a thriving business in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $840,344

  6.5%

  $775,702

  7%

  $720,295

• Comparable approach

  Method

  Valuation

  Relative Method

  $423,057

  Geo Method

  $423,057

• Alternative Use

  Use

  Valuation

  Residential

  $961,870

  Hospitality

  $881,068

  Educational

  $733,038

  Medical

  $758,249

  Retail

  $1,140,282

Location Insight

City

Sacramento

County

Sacramento

State

California

Latitude

38.5751

Longitude

-121.476

CBSA code

40900

CBSA name

SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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