851 Richards Blvd 22,320 SF 100% Leased Industrial Building Sacramento, CA 95811 $2,750,000 ($123.21/SF) 7.59% Cap Rate

Positioned at the gateway to Sacramento’s rapidly evolving River District, this retail, showroom, and industrial warehouse opportunity at 851 Richards Blvd offers investors a compelling blend of stabilized income, strategic location, and future upside potential. The property sits at a highly visible corner, just two minutes from Downtown Sacramento and moments from both I-5 and I-80, making it exceptionally accessible to regional consumers, workers, and logistics networks. Its proximity to key civic anchors—including the police station and highway patrol—reinforces a secure operating environment and adds long-term desirability for tenants.
The existing income stream is anchored by HQ Gentlemen’s Club, an established entertainment venue operating under a rare Conditional Use Permit that allows adult entertainment and a full liquor license. This long-standing tenant occupies a substantial portion of the building under an NNN lease that runs through 2030 with built-in escalations, providing durable in-place cash flow and a strong foundation for investor returns.
With the remaining space currently vacant, new ownership has the option to pursue additional stabilized income or to create a premium owner-user environment benefiting from generous onsite parking, dual drive-in and drive-up loading, secure private yard areas, and flexible warehouse configurations. These physical characteristics, combined with the district’s active redevelopment and new mixed-use vitality, reinforce the long-term competitive positioning of this asset.
Investors looking for properties with meaningful upside will appreciate the jump from a 7.59 percent current cap rate to a projected 14.78 percent based on full occupancy. This combination of reliable tenancy, specialty entitlements, strategic location, and significant income growth makes 851 Richards Blvd a standout acquisition for industrial, retail, and specialty-use investors seeking both near-term performance and long-term value in Sacramento’s newest transformation corridor.