$1,275,000
3000 T ST Sacramento, CA 95816
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$1,275,000
Est. payment /mo
0.29 Acres Lot
UPDATED:
08/19/2024 10:00 PM
Key Details
Property Type Commercial
Sub Type Office
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 223089784
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1981
Lot Size 0.294 Acres
Acres 0.2938
Property Description
3000 T Street is an approx. 7,880 SF two-story office building situated at the corner of 30th and T Streets, just adjacent to the Business 80 on/off ramps. The building is comprised of ten small office suites ranging from 300-1,800 SF. The property is currently 55% leased to six month-to-month tenants paying an average rent of $1.16 PSF fully serviced, which is about $.50 PSF less than market rent for comparable office space. The property is a true value-add office investment whereby rents and occupancy can be increased with cosmetic improvements and active leasing strategies. The property can also accommodate an owner-user in all or a portion of the building upon closing. The building is situated on a 12,800 SF lot that extends from T Street to Tomato Alley with 160 feet of frontage along 30th Street. The proposed 2040 General Plan would change underlying zoning to Residential Mixed Use with a FAR of 4.0, which would allow a 52,000 SF building on the site. Therefore, the property is also a unique covered land play whereby carry costs are offset by the existing office building rent until construction and debt costs will allow a new development on the entire site. Priced at $1,275,000 which is $161 PSF on the building and $99 PSF on the land
Location
State CA
County Sacramento
Area 10816
Direction Located at the corner of 30th and T Street. On-site parking is open.
Location Details Public Transportation Nearby,Freeway Nearby,Light Rail Nearby
Interior
Heating Central
Cooling Central
Flooring Carpet, Vinyl
Exterior
Garage Open, Private
Utilities Available Master Gas Meter, Master Water Meter
Water Access Desc Public
Roof Type Flat
Total Parking Spaces 20
Building
Sewer Public Sewer
Water Public
Others
Senior Community No
Tax ID 010-0131-025-0000
Special Listing Condition None
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Listed by Ken Turton, Broker
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