Lioness Building 2224 J St

4,644 SF 95% Leased Retail Building Sacramento, CA 95816 $975,000 ($210/SF) 5.30% Cap Rate

INVESTMENT HIGHLIGHTS

  • Prime Midtown location

EXECUTIVE SUMMARY

Great Price Reduction! Prime Midtown location for this almost completely leased, circa 1920 two-story Craftsman with nice bones, and a storied history as the Lioness Bookstore and Sacramento Women's Center. It originally had two shotgun style apartments on the upper floor, which now has 8 private offices, 7 of which are on short-term leases to physical and massage therapists. The Property is currently well-managed by a local professional company. Current first floor long-term tenant recently completely remodeled her space interior and it shows! Long-time owners have done a lot of work on building, including installing a commercial water line, commercial fire sprinklers throughout, and an accessible lift from the street level to the first floor. First floor also has had a new water heater and HVAC unit in 2024. Building has potential upside for an investor or developer to redevelop the second floor back into apartments, and/or install an elevator and possibly add a third story attic apartment suite. This building has more than one Mixed-Use possibility. Check with City for options to explore. Contact Kari Bryski, DRE #01436972 or Perry Arnold, DRE #02204136, (916) 995-7131 for more information.

FINANCIAL SUMMARY (ACTUAL - 2024)

ANNUAL ANNUAL PER SF
Gross Rental Income $78,000 $16.80
Other Income - -
Vacancy Loss - -
Effective Gross Income $78,000 $16.80
Net Operating Income - -

PROPERTY FACTS

Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
4,644 SF
Building Class
C
Year Built
1920
Price
$975,000
Price Per SF
$210
Cap Rate
5.30%
NOI
$51,700
Percent Leased
95%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
10’
Building FAR
1.33
Lot Size
0.08 AC
Zoning
C-2-MC - General Commercial
Frontage
40 FT on J St

AMENITIES

  • Security System
  • Signage
  • Tenant Controlled HVAC
  • Air Conditioning
Walk Score®
Walker's Paradise (99)
Bike Score®
Biker's Paradise (99)

NEARBY MAJOR RETAILERS

Peet's Coffee
The Old Spaghetti Factory
Starbucks
Chase Bank
Club Pilates
9Round
Grocery Outlet
The Melting Pot
Wolfgang Puck
Golden 1 Credit Union

PROPERTY TAXES

  • Listing ID: 33989951

  • Date on Market: 11/24/2024

  • Last Updated:

  • Address: 2224 J St, Sacramento, CA 95816