1700 I Street 1700 I St

Turton Commercial Real Estate is pleased to present the rare opportunity to purchase 1700 I Street, a standalone historic mixed-use property in the heart of Midtown Sacramento.
Located in a Federal Opportunity Zone, this architecturally unique building features a +/- 17,418 square foot two (2) story building, with an adjacent +/- 13,199 square foot parking lot on a separate parcel.
The Property is being offered at $3,495,000, or ± $200 per square foot. Currently ± 21% vacant and with some of the existing rents sitting below market, there is significant upside for potential investor simply by stabilizing the asset; leasing the vacant ground floor space, bringing existing tenants closer to market rents upon renewal, and appropriately monetizing the surface parking will all contribute to a healthier NOI and dramatically improve capitalized value with minimal investment. Further, the property’s Opportunity Zone designation should allow an investor substantial tax savings on realized gains upon exit, assuming they are willing to hold the asset for ten years and improve it according to Federal Tax Code requirements.