1517 e street brochure 2...sierra research (40 employees) lionakis beaumont design (135 employees)...

FOR SALE - 6,800 SF FREESTANDING BUILDING ON A 12,800 SF LOTPRICE: $1,550,000

1517 E Street Sacramento, CA 95814

Provided by Tom Bacon, [email protected] #00859571

www.sacramentobacon.com

Julian [email protected] #02077859

Table of Contents

1. Property Summary

2. Aerial Photo

3. Parcel Map

5. Exterior Building Photos

6. Sales Comps

7. Midtown - Downtown Commentary

8. Regional Commentary


Sales Offering - 1517 E Street, Sacramento, CA 95814


Property Summary

OVERVIEW


The SPCA Thrift Store building located at 1517 E Street is priced at $1,550,000. Given the lot size, building size and emerging location, 1517 E Street is an unusual value for Downtown Sacramento. SPCA will be closing the Thrift Store by the end of 2019, so the building will be delivered vacant.

1517 E Street is a rare find in today’s market. First of all, the 6,800 square foot building sits on a 12,800 square foot lot. The Lot is made up of two 6,400 acre parcels, with the building occupying the eastern parcel and parking is on the western parcel.

When looking to buy a building in Sacramento’s core, if you find a building with parking like 1517 E Street, you are in luck. Parking just makes everything better. As an occupant, you know how nice it is to have parking. While parking is great during occupancy, parking also makes leasing or selling the building significantly easier.

Bacon Commerical has been retained to exclusively market SPCA's Thrift Store at 1517 E Street - a 6,800 SF building that is situated on a 12,800 SF lot.

The Downtown and Midtown markets are arguably the hottest submarkets in the Sacramento region. Values have surged and vacancy rates are down.


PROPERTY HIGHLIGHTS

FRONT

BACK

LOFT DETAILFRONT PARKING


• Outstanding Location - Walking distance to amenities, new housing developments and the Railyards development

• Rare Find in this market – There is nothing else on the market like this.

• Parking – the building comes with a contiguous, 6400 SF Parcel, that will accommodate 18 - 20 cars.

• Improved Alley access.

• High ceilings, brick and a roll-up door off the alley

• C-4 Zoning - great development site in the Opportunity Zone.

• Ideal for an owner user and a multitude of uses.



APN 002-0131-017 and 002-0131-018

Lot Size 12,800 SF

Zoning C - 4

Building Square Feet 6,800 SF

Building Construction Sturdy brick construction, with roll up door and bonus loft officeand Interior or potential living unit HVAC 3 BDP HVAC units two with 40,000 BTU and one with 80,000 BTU. Also 3 electric BDP cooling units and one Trane Heat Pump.

Parking The 6,400 SF lot can accommodate 18 to 20 cars

Power 400 AMP, 3 Phase Power

PROPERTY DESCRIPTION


Aerial Photo



Parcel Map


Exterior Building Photos


CURB APPEAL ALLEY ACCESS - ROLL UP DOOR

FRONT VIEWFRONT WITH PARKING



Sold Comparables


While the market is hot and the appreciation in values has steadily increased over the past 2 years, there is a very limited inventory of properties for sale. Properties that hit the market sell at prices very close to, or above, asking price; particularly when a property is well located with good parking.

Recent sales in Midtown and Downtown show that values are up, and these values demonstrate is that there is a legitimate case to be made that the Arena effect is more than hype, it is real. Now with the announcement of a probable MLS franchise coming to town and locating in the Rail Yard Development at 8th and C Street, the Alkali Flights neighborhood’s recent transformation is going to accelerate.

Long before the Golden 1 arena and the Soccer Arena, several large projects were underway; market dynamics were already at work transforming Sacramento’s Core into a dynamic and thriving urban market.

The Comparable sales provided here show how desirable the Downtown / Midtown market has become.


601 15TH STREET, Sacramento, CA 95814SOLD DATE: JULY 2019

PRICE/SF: $196

SOLD PRICE: $1,225,000

TOTAL SF: 6,240

810 29TH STREET, Sacramento, CA 95816SOLD DATE: MAY 2019

PRICE/SF: $390


TOTAL SF: 3,250

2022 BROADWAY, Sacramento, CA 95818SOLD DATE: MAY 2019

PRICE/SF: $230


TOTAL SF: 6,240

2201 J STREET, Sacramento, CA 95816SOLD DATE: MAY 2019

PRICE/SF: $290


TOTAL SF: 5,370

2116 K STREET, Sacramento, CA 95816SOLD DATE: MAY 2019

PRICE/SF: $380


TOTAL SF: 3,200

Notable developments underway in the vicinity validate the transformation of the area and provide a glimpse of possible development, this can give you an idea of the possibilities for any development plans, below are the following:



Notable Developments

1 1414 E Street –Twelve 1,400 square foot single family residences.

2330 12th Street –Mixed-use building with ground floor restaurant / retail space, and 24 residential units.

1613 H Street – Five story apartment building with 95 units and 15 parking spaces.3



4 308 14th Street – Approved subdivision of 21 homes on a 0.59 acre lot.

5605 16th Street – Four story apartment building with 53 affordable housing units for low-income seniors.

Notable Developments


Midtown - Downtown Commentary

Because state and federal courts are located downtown,

many attorneys have chosen downtown/midtown areas

for their offices. Many of these firms have purchased small

office buildings including converted homes to offices.

Midtown is also the preferred location for numerous

advertising agencies, PR firms, Associations, Architects,

Engineering and Web Development.

MAJOR EMPLOYERS IN MIDTOWN INCLUDE:

Jones & Stokes (220 employees)

Sutter Health (4,000 employees)

McClatchy (Sac Bee) (1,400 employees)

Wood Rodgers Engineering (193 employees)

AECOM (70 employees)

Sierra Research (40 employees)

Lionakis Beaumont Design (135 employees)

Mastagin Holstedt (Attorneys) (80 employees)

Electronic Arts (50 employees)

USC Graduate School (50 employees)

Runyon Saltzman Einhorn (100 employees)

Overall, Midtown has good appeal to

business. There are many shops and

restaurants that add to the cultural flare of

the neighborhood, thus enhancing appeal.

The property’s close proximity to downtown

makes it appealing for a number of users.


The Midtown - Downtown markets are arguably the hottest

submarkets in the entire region. Rents have surged, with

some office buildings raising their rents by 25%. There is an

abundance of new development in the final stages of prede-

velopment and many of the projects are mixed use, offering

residential, retail and office.

AREA HIGHLIGHTS

• A diversified business climate

• Rich agriculture

• High quality of living

• Government employed (25%)

• Current unemployment rate (5.5%)

• Population growth between 2010 - 2015 (5%)

BUSINESS CLIMATE

The Sacramento Region has experienced strong

population, job growth, and diversification over the last ten

years and is expected to outpace the national average by

more than double over the next ten years.

TRANSFORMATION HIGHLIGHTS

• In 2015 Bloomberg ranked Sacramento #6 as the

most affordable fun city.

• Before counting the expense of the arena, in the

recent past over one billion dollars has been spent

downtown on new developments, of which 58% are

privately funded.

• Of 900 people surveyed, 1/3 say they would like to live

in Downtown and Midtown, and 2/3 of the millennial

survey want to be in the Grid.

Sacramento’s CORE value proposition has risen with an

abundance of new amenities including health clubs, bars

and restaurants. The Jobs being created downtown are

good paying Jobs (Kaiser Hospital took down 18 acres in

the Railyard for a future hospital and they bought 501 J for

a new medical office building.) And the Arena is one of the

finest in the world.

Downtown and Midtown Sacramento is the Ultimate

Corporate Campus with everything right there for

employees to work and play.

DIVERSIFICATION

Organically, Sacramento is making great strides.

According to Bureau of Labor Statistics Data, Sacramento

is not so much a government town. Consider this, in 2010,

29% of the region’s non-farm workforce was government.

As of December 2015 that number stood at 25%. So in

2015 of the 927,000 non farm jobs, 695,000 were private

sector. In 2010, of 830,000 non farm jobs, 589,000 were

private sector. Net increase in private sector, non farm

jobs: 111,000.

Regional Commentary


www.sacramentobacon.comThe Information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

1517 e street brochure 2...sierra research (40 employees) lionakis beaumont design (135 employees)...

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