Description
Newmark, as the exclusive advisor, is pleased to present for sale 4330 24th Street, a mixed-use office/art studio building in Sacramento, California. Constructed in 1962, this pre-cast (tilt-up concrete) building is comprised of roughly 6,000 SF on 2 levels, and is currently occupied by a multitude of art studios and office users. The property is 100% occupied with long term tenants with short term leases. In-place Cap Rate is 8.6% and Market Cap 9.6%. This is a true "cash cow"! With in-place income, this buildings size and location present many adaptive re-use options within an urban neighborhood reflecting the changes of demographics and perceptions.
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0BEDS
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0.14ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
Newmark, as the exclusive advisor, is pleased to present for sale 4330 24th Street, a mixed-use office/art studio building in Sacramento, California. Constructed in 1962, this pre-cast (tilt-up concrete) building is comprised of roughly 6,000 SF on 2 levels, and is currently occupied by a multitude of art studios and office users. The property is 100% occupied with long term tenants with short term leases. In-place Cap Rate is 8.6% and Market Cap 9.6%. This is a true "cash cow"! With in-place income, this buildings size and location present many adaptive re-use options within an urban neighborhood reflecting the changes of demographics and perceptions.
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