2501 CAPITOL

TURTON

B U I L D I N G F O R S A L E I N T H E H E A R T O F M I D T O W N

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PROPERT YT HE

TURTON COMMERCIAL IS PLEASED TO PRESENT A PRIME OPPORTUNITY TO ACQUIRE A MID-CENTURY MODERN OFFICE BUILDING IN THE HEART OF MIDTOWN

This 2 story 5 unit commercial building is prominently situated on the corner of Sacramento’s most distinguished Avenues. The 3,000+- Square foot building with a parking lot that is approximately 1,800 square feet and situated on a 4,000 square foot parcel of land. Building can be delivered vacant to accommodate an owner-user or leased up with ease due to the condition and marketability of the suites.

The building is a classic example of Mid Century Modernism

and designed by a prominent Sacramento MCM architect by the name of Sooky Lee. The suites feature floor to ceiling glass windows, great modern lines, a wraparound second story balcony and a mix of original and new modern finishes.

Commercial opportunities along the Capitol Avenue

Corridor in Midtown are scarce. The Midtown corridor is bookended by Sutter Health’s new hospital to the East and the government buildings to the West at 15th with Capitol Park occupying another five blocks.

There are only 11 blocks within the Midtown Capitol Avenue

corridor. Many structures are built as multifamily or residential with zoning that limits commercial use or conversion into commercial uses, further constraining the number of commercial opportunities. Within the corridor, there are only a handful of corner properties that are zoned for commercial use, making the subject property virtually irreplaceable. This is a unique opportunity to secure a nicely renovated Capitol Avenue in the heart of Midtown.

PROPERTY INFORMATION

Address 2501 Capitol Ave

Offering Price $1,095,000

Building Size 3,000+

Lot Size 4,000 SF

Zoning RO - Residential, Office

Year Built 1963

Year Renovated 2016

Parking 4-6 Stalls

Construction Frame Over Raised Foundation

The building was nicely renovated in

2016 and included new exterior paint and landscaping,

new interior paint and flooring in all suites, interior sheetrock repair and

configuration of marketable suites, new interior fixtures, lighting and hardware, new

toilets and improvements to bathrooms, new marble countertops on all cabinets, new railings along the front

and back of the exterior, a new HVAC unit downstairs. Roof was estimated to be replaced in 2013 and was reported as

being in great shape by roofing contractor in 2016

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LOCATIONPROPER T Y

Midtown Sacramento is the perfect fusion of multi-generational locally owned business and organic youth infused goods and services; a healthy dose of carefully selected national and regional retailers and an eclectic mix of high-end demographic occupations are embedded in a landscape of unique older buildings and mature trees. Business owners, residents and investors have flocked to the center of Sacramento’s art, music, and cultural scene to cash in on the burgeoning and fruitful submarket. Many people consider Midtown to be the most centralized area in the City of Sacramento, with easy access to Downtown, Old Sacramento, West Sacramento and East Sacramento. Large infill housing and mixed-use development projects are scattered throughout the grid, indicating regional growth and an increased emphasis on inner-city living.

Midtown has emerged as one of the submarket’s hottest micro-markets. 2501 Capitol is near the epicenter of Midtown, which has an excellent daytime population and provides numerous eateries and professional amenities within easy walking distance. The area is also home to the Sutter General Hospital and the new B Street Theatre. This high identity location is within walking distance of popular eateries, including: Tres Hermanas, Centro Cocina Mexicana, Golden Bear, Rick’s Dessert Diner, Der Biergarten, Chicago Fire Pizza, Beach Hut Deli, Paragary’s, Ink Eats, and Starbucks. Nearby professional amenities, include: Office Max, Fed Ex Kinkos, Floppy’s Digital Prints, Wells Fargo, Citibank, U.S Bank, Woodard-Ficetti Dry Cleaners and Pucci’s Leader Pharmacy.

2501 Capitol is located only four blocks from the Capital City Freeway. This allows for quick and easy access to both Interstate 80 and Highway 50.

TAKE ADVANTAGE OF SACRAMENTO’S BURGEONING MIDTOWN MARKET

STATE CAPITOL

26 TH STREET

5 8 d e g r e e s h o l d i n g c o .z o c a l o | p o r t o f i i n o

p a e s a n o s |p r e s s b i s t r og i n g e r e l i z a b e t h ’ S

m a k e f i s h | a i o l ib u c k h o r n g r i l l

C R E P E V I L L EB I G S T U M P | O L D S O U L

J STR

EET

b o n a i r m a r k e t

k u p r o s

DOWNTOWN

MIDTOWN

s u t t e r ’ s f o r t

t h a i b a s i lv e g c a f e

s u g a r s h a c k

r u b i c o n b r e w i n g c o .t h e w a t e r b o y

j a c k s | c h i p o t l e

m u l v a n e y ’ s

s t. f r a n c i sc h u r c h

L O W B R A Ub l o c k b u t c h e r b a r

A Z U LP E E T ’ S C O F F E E

F A C E SM A N G O ’ S / B U R G E R T O W N

H E A D H U N T E R S

CONVENTION CENTER

j u n g l e b i r dr i r e b o u t i q u e

c a p i t a l n a i l s a l o nd r u n k e n n o o d l e

r e l l e s f l o r i s tb e a c h h u t d e l i

c h i c a g of i r e

r i c k ’ s d e s s e r t d i n e r

SUBJECT PROPERTY

f l e e t f e e tc o r n e r s t o n e

f l a m i n g o h o u s ec a n t i n a a l l e yg o l d e n b e a r

d e r b i e r g a r t e nt r e s h e r m a n a s

h a r l o w ’ sb a r w e s t

r e d r a b b i tc e n t r o

b l u e c u eb l i m p i e

MIDTOWN

s t a r b u c k sn o a h ’ s b a g e l s

j y r o st a n k h o u s e

t a p a t h e w o r l dk a s b a h

CAPITOL AVE

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PROFORMAT HE PROPER T Y &

EXPENSES CURRENT POTENTIAL

Property Taxes $8,450.00 $13,650.00

Insurance $858.00 $1,250.00

Water, Sewer & Garbage $3,456.00 $7,500.00

Landscaping $1,200.00 $1,200.00

Other Maintenance $1,000.00 $1,000.00

Management Fee - 5% $- $4,881.53

Operating Reserves $400.00 $400.00

Total Estimate Expenses $15,364.00 $29,881.53

Expenses as % of Gross Income 49% 31%

Expenses per Unit $3,072.80 $5,976.31

Expenses per SF $5.12 $9.96

Net Operating Income $1,436.00 $67,748.98

Cap Rate 0.13% 6.19%

PURCHASE PRICE $1,095,000 $1,095,000

OPERATING STATEMENT

INCOME CURRENT POTENTIAL

Scheduled Annual Rent $16,800.00 $100,650.00

Monthly Rent Roll:

Unit #101 $1,400.00 $2,125.00

Unit #102 $- $750.00

Unit #103 $- $1,800.00

Unit #201 $- $1,812.50

Unit #202 $- $1,500.00 Less Vacancy Reserve - 3% $- $3,019.50

Effective Rental Income $16,800.00 $97,630.50

Signage $- $-

Effective Gross Income $16,800.00 $97,630.50 PRICING SUMMARY

PRICE $1,095,000

Price per Unit $219,000

Price per Sq. Ft. $365.00

Pro Forma CAP Rate 6.19%

RENT ROLL

Unit Number Size Current Potential Price per SF

#101 850 $1,400 $2,125 $2.50

#102 225 $- $750 $3.33

#103 600 $- $1,800 $3.00

#200 725 $- $1,813

#201 600 $- $1,500

Parking 4 $400

Total Monthly Income $1,400 $8,388

UNIT FEATURES

Mid Century Modern Architecture Renovated in 2015

Great Location on Capitol Ave Central Heating/AC

Five Modern Commercial Units Raised Foundation

Hard Corner with Great Identity

PROPERTY INFORMATION

Address 2501 Capitol Ave, Sacramento, CA 95816

Number of Units 5

Number of Stories 2

Total Building Size 3,000 SF

Unit #101 850 SF

Unit #102 225 SF

Unit #103 600 SF

Unit #200 725 SF

Unit #201 600 SF

Approx. Lot Size 0.092 Acres

APN 007-0163-017-000

Zoning RO - Residential Office

T HIS BUIL DING H A S PO T EN T I A L :

• Use the ground floor or upstairs units for Office, Residential or create AirBnB style rental accommodations• Small Executive Suite style building that can accommodate 50-3,000 square foot tenant(s)• Parking Lot can either generate income at $100-125/stall or be utilized as an infill development.

© 2018 This information has been secured from sources believed to be reliable. Any projections, opinions, as-sumptions or estimates used are for example only and do not constitute any warranty or representation as to the accuracy of the information. All information should be verified through an independent investigation by the recipient, prior to execution of legal documents or purchase, to determine the suitability of the property for their needs. Logos and/or pictures are displayed for visual purposes only and are the property of their respective owners.

JOHN MUDGETTSENIOR DIRECTOR

D.R.E. LIC. 01765754916.573.3306

JOHNMUDGET T@TURTONCOM.COM

2409 L STREET, STE 200, SACRAMENTO, CA 95816

916.573.3300 TURTONCOM.COM