601-605 15th St 7,400 SF Vacant Retail Building Sacramento, CA 95814 $1,895,000 ($256.08/SF)

Turton commercial real estate is pleased to present the opportunity to purchase 100% fee simple interest in 601-605 15th Street (“The Property”). This recently renovated two-story, 6,512 SF, mixed-use building is being offered for $1,895,000, reflective of a 7.8% capitalization rate based on a blended actual and proforma Net Operating Income of $147,635.61 creating a perfect opportunity for a restaurateur looking to make their first move into building ownership or an investor focused on mixed-use value-add investments.
The approximately 3,764 SF ground floor restaurant space offers any potential users all the benefits of a well thought out second-generation spaces with kitchen complete with hood, sinks, floor drains and full bar buildout allowing flexible use as one contiguous space or leveraging the multiple street entrances and four separate restrooms for two distinct and separate concepts.
Remodeled in 2020, the fully occupied four residential units offer tenants tasteful and timeless upgrades including LVP flooring, modern countertops, new dishwashers, cooktop and side-by-side refrigerators, washer/dryer hookups and modern frameless glass shower enclosures. Combined with the roughly 313 SF patio it makes an inviting home for anyone looking for the Downtown/Midtown experience in full. Working with the “Furnished Finders,” a program catering to traveling nurses, the ownership has had a long wait list and a steady stream of tenants move in and out seamlessly with near ZERO vacancy or downtime. This creates a rock-solid and reliable track record of income for any potential buyer.
Stationed within the historic Alkali Flats residential neighborhood, one of the Sacramento’s urban Core premier residential submarkets, the property offers high accessibility and unmatched visibility for sub-2 million dollar standalone buildings. Facing 15th street, Sacramento’s main north to south artery, The Property allows any hospitality user the ability to draw from the nearby vehicular and pedestrian traffic while still offering enough street parking to be a destination location. Further sitting immediately to the north of the Sacramento business and entertainment district, it allows any residential tenants quick and convenient access to work, amenities, and activities in the urban core.
In a market full of over-cooked returns, opportunities like this are rare! Stake your claim on the Sacramento hospitality market with 601-605 15th Street.