Property Details
About this Property
1231 I Street, Suite 205 a is leased office condo investment situated within a professional office building in the downtown Sacramento Central Business District, and is walking distance to the State Capitol, DoCo, City Hall, and the County and Federal Courthouses. The office condo measures 1,470 square feet and features a reception area, large conference room, storage room, and open work space. The condo is currently 100% occupied by the California Rice Commission, which has leased this specific office condo since October 2011. The California Rice Commission has approximately 31 months remaining on its current lease term and has a 5-year option to extend the lease through December 3031 at a fixed rent. CA Rice is currently paying $2.45 PSF full-service which equates to $3,602 per month plus an estimated CAM reimbursement of $250 per month. The asking price is $435,000 which equates to a 5.74% capitalization rate based upon actual income and proforma operating expenses. The average annual return over the next eight years, provided CA rice extends its lease, is 5.83%. Association handles all maintenance and repair to the building; very little management responsibilities.
MLS Listing Information
MLS #
ME224052662
MLS Source
MetroList Services, Inc.
Commercial Information
# Buildings / # Units
0
Parking Spaces
0
Present Use
Office
Utilities
Other
Interior Features
Flooring
Carpet
Cooling
Central Forced Air
Heating
Central Forced Air
Exterior Features
Roof
Flat
Parking, School, and Other Information
Sewer
Public Sewer
Water
None, Other
Zoning
C-2 Commercial
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 0 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
1231 I Street 205 is a Commercial Sale in Sacramento, CA 95814. This 1,470 square foot property sits on a 1,470 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $420,000 and was built in –. This address can also be written as 1231 I Street #205, Sacramento, CA 95814.
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This listing information is up-to-date as of August 12, 2024. For the most current information, please contact Jon Lang, (916) 710-0753
