2131 16TH - images1.loopnet.com · 02 03 Offering Price: $1,900,000 Address: 2131 16th Street, Sacramento CA 95818 Lot Size: 19,200 Square Feet or 0.54AC Zoning: C 2-NC - General

PRIME DEVELOPMENT OPPORTUNITY NEAR THE R STREET CORRIDOR BROCHURE

2131 16TH

THE VISION19,600 C-2 160 FT

ZONINGSF 16 ST FRONTAGE

URBAN INF ILL DEVELOPMENT OPPORTUNITY

03

Midtown and the

R Street Corridor is

an urban ecosystem

of lively residents,

creative workers,

and cool retail

establishments. The

time to invest near R

Street is now!

2131 16TH2131 16TH

0 2 0 3

Offering Price: $1,900,000

Address: 2131 16th Street, Sacramento CA 95818

Lot Size: 19,200 Square Feet or 0.54AC

Zoning: C 2-NC - General Commercial Nieghborhood Corridor

APN: 0 09-0154-023-0000

Lot Dimensions: 160ft x 120ft

LAND INFO

2131 16th Street is 19,600 square feet of land centrally located in the urban core with proximity to Midtown, Down-

town, Southside Park and Land Park. The C-2 zoned parcel has 160 feet of frontage on 16th Street and 120 feet of

frontage along V Street as well as 120 feet of alley access.

On the cusp of Land Park and Southside neighborhoods, the property is surrounded in all directions by new develop-

ments and is within walking distance to the R Street Corridor, including the new Ice Blocks mixed use development.

This section of 16th Street stands to benefit from recent and pending developments and is coming alive. Located

on the hard corner of 16th & V Streets, this high visibility corner parcel will act as a crucial connection between all

three vibrant submarkets and extending the urban grid to Land Park and the Broadway Corridor.

The subject property is close to several new developments. The recently completed Ice Blocks projects features over

100,000 square feet of new high end creative office space, 80,000 square feet of high end retail space and 175 high

end residential units. Also nearby is the Safeway anchored retail development with a number of eateries and service

retail. A fully leased, new construction retail project at 16th & Broadway will bring three new corporate tenants to

the area and 1500 S development has been approved for 76 residential units over ground floor retail and will likely

materialize in 2020/2021.

This is a high quality and highly visuble urban infill opportunity. Active developments, nearby amenties, proximity

to the urban renaissance along R Street, Midtown, Dowtown makes this a highly versitile urban infill development

opportunity. Seller is reasonable and welcoming all offers for consideration.

Turton Commercial is pleased to present a high quality urban infill

opportunity in Sacramento’s urban core with proximity to Midtown,

Downtown, Southside Park & Land Park.

E X E C U T I V E S U M M A RY

2131 16TH2131 16TH

120ft

160f

t

16TH

STR

EET

SACRAMENTOSacramento is the Capitol of California, the sixth largest economy in the world. While perhaps not considered as sexy

as many of the tourism based cities in California such as San Francisco, Los Angeles and San Diego, being the hub

of California’s governmental structure provides an incredible amount of economic stability throughout the region.

In addition, Sacramento is being increasingly recognized as an outdoor enthusiast’s dream city with its remarkably

central location to Lake Tahoe, the Sierra’s, Yosemite and the Coast.

In a recent study completed by WalletHub for National Nutrition Month, Sacramento was ranked the 5th healthiest

city in the United States among 100 large cities (ranking higher than the likes of Denver, Colorado Springs, San

Francisco, Portland, Austin, San Antonio and Seattle). Forbes magazine ranked Sacramento as the 10th healthiest

city in the United States versus all cities. A big part of this recognition stems from the cities’ proximity to the Amer-

ican River. Hiking trails and white water rafting abound along the American River as well as one of Sacramento’s

crown jewels... the 32 mile American River Bike Trail which runs entirely along the river from Beal’s State Park to

Discovery Park where it conjoins with the Sacramento River to Old Sacramento on the riverfront (only 13 blocks from

the Subject Property).

15.3 MILLIONDAYTIME EMPLOYEES DOWNTOWN BARSANNUAL REGIONAL VISITORS RESTAURANTSTOTAL DOWNTOWN RESIDENTS

SACRAMENTO REGION ANNUAL SALARY BREAKDOWN:

Over $100,000 - 17%$75,000 - $100,000 - 11%

$60,000 - $75,000 - 10%$40,000 - $60,000 - 18%

$30,000 - $40,000 - 12%Under $30,000 - 32%

#1 Happiest workers in midsized cities

#1 Most valuable minor league baseball team

#2 Top 10 most fun, affordable U.S. cities

#4 U.S metro clean tech index

#4 Best cities for nerds

#5 Hot startup cities

#10 Best cities for women in the workforce

#10 Best cities for coffee snobs

#10 Lease Stressed-out cities

#14 America’s coolest cities

#16 Best cities for millennials

SACRAMENTO’S CITY RANKINGS

0 4 0 5

LARGEST EMPLOYMENT INDUSTRIES WITHIN 1 MILE RADIUS OF THE PROPERTY:

ANNUAL CONSUMER SPEND-ING WITHIN A ONE MILE RADIUS OF THE PROPERTY:

Entertainment

Eateries/alc.

Transport

Health & ed.

Household

20 40 60 80*Numbers in millions0

*Based on data from 2012

NUMBER OF EMPLOYEESWITHIN VARYING RADIUS OF THE PROPERTY:

1 MILE 2 3

97,075

131,818

182,867

48% Public Admin. & Sales17% Science & Tech.

4% Information

5% Healthcare & Social

7% Hospitality & Food

19% Other

2011 20172012 2013 2014 2015 2016

$2,000

$1,500

$1,000

$500

AVERAGE MONTHLY RENTAL RATE IN SACRAMENTO:

While recognized by many as the

farm-to-fork capitol of America,

Sacramento also features great

breweries, coffee roasters, and

a state-of-the-art downtown

entertainment arena.

140 5517,73671,335

2131 16TH2131 16TH

R STREETR Street is the makers’

hub of Sacramento.

Creatives, builders,

artists, and architects

have sought refuge

from boring spaces in

the former warehouse

district and brought

with them the vibe

which founded an

entertainment hub.

07

147,000270,000 10AWESOME BARSSF OF NEW DEVELOPMENT RESTAURANTSDAILY VISITORS

R Street, an avenue of old industrial warehouses, has been transformed into a community of high-end office workers, crafty artisans, iconic restaurants, and diverse residents.

2131 16TH2131 16TH

LIVEWORKPLAY

09

No need to leave the area when everything you need is right here.

2131 16TH

LARGEST EMPLOYMENT INDUSTRIES WITHIN 1 MILE RADIUS OF R STREET:

ANNUAL CONSUMER SPENDING WITHIN A ONE MILE RADIUS OF R STREET:

Entertainment

Eateries/alc.

Transport

Health & ed.

Household

20 40 60 80*Numbers in millions0

*Based on data from 2012

NUMBER OF EMPLOYEESWITHIN VARYING RADIUS OF R STREET:

1 MILE 2 3

97,075

131,818

182,867

48% Public Admin. & Sales17% Science & Tech.

4% Information

5% Healthcare & Social

7% Hospitality & Food

19% Other

R STREET DATA

11

Ace of Spades

Amaro Italion Bistro & Bar

Bottle and Barlow

Burgers and Brew

Café Bernardo’s

Device Brewing Co.

Dos Coyotes

Elixir Bar & Grill

FishFace Poke Bar

Fox & Goose Public House

Iron Horse Tavern

Metro Kitchen & Drinkery

Nido

R15

Roxie Deli and Barbeque

Shady Lady

Shoki Ramen House

Waffle Square Country Kitchen

All Good

Arareity

Beers Books

Benjamins

Crossfit Analog

European Wax Center

Fat Man Cigars

Hogue

Kechmara Designs

Kicksville Vinyl & Vintage

Kinections, Inc.

M.A.R.K Vintage

Medium Rare Records & Collectibles

Muse ArtHaus Salon

Nice Stems

Official

Old Gold

Piece of Mind

Rumpelstiltskin

Shaft

Space 07 Salon

Stop Waiting for Friday

Studio Laurus

Tea Cozy

Training With a Personal Touch

WAL Public Market

POPULAR BUSINESSES ON OR NEAR R STREET (NOT ALL ARE MENTIONED HERE):

2131 16TH2131 16TH

TRUITT BARK PARK

17 & S DEV.

EVIVA MIDTOWN

1717 S STREET

20 PQR

Q19

THE PRESS BUILDING

CAL. BROWNSTONES

19TH

16TH

P

NE A RB Y DE VEL OP MEN T

There are currently nine multi-family mixed use projects slated for development over the next two to three years.

This will create as many as 1,200 new units on the market averaging about 600 sf per unit. In addition, almost

100,000 sf of retail space has been included with those permits not including almost 70,000 sf of new retail at the

Ice Blocks project 1 block south of the Subject Property. A majority of these projects are targeted for the P – Q – R

Street corridors due to their centralized location to Midtown, Downtown and the Central District as well as their ideal

proximity to Light Rail Transit’s urban hub at 16th and Q Street. Even with that much development, recent studies

conducted by Bay Area Economics in coordination with CADA have indicated demand for high end residential to be

as much as 5,000 – 6,000 units (or even higher) over the next decade… and there is very little infill land remaining

to be purchased and developed.

700,0009 270,000SF OF NEW OFFICE/RETAILMAJOR NEW DEVELOPMENTS SF OF NEW RESIDENTIAL

DOWNTOWN COMMONS

THE RAILYARDS

THE CREAMERY

19J DEV.

1915 S DEV.

ICE BLOCKS

1430 Q DEV.

R

20 PQR

Strong interest in

the area has spurred

the redevlopment of

nearby properties.

The Sacramento

grid is currently

peppered with new

developments, but R

Street is the epicenter.

2131 16TH2131 16TH

Surrounded by Development

17

THISCIT Y

ROCKSSacramento boasts absolutely no shortage of top-notch

restaurants, sharp local IPAs, hole-in-the-wall hidden gems, skilled baristas, electronic music street festivals, light-up

party bikes, outstanding produce, and warm people.

2131 16TH2131 16TH

MIDTOWN

DOWNTOWN

ICE BLOCKS

MILL AT BROADWAY

HOUSING REDEV.

Grupe / SKK DEV.

5TH

BROADWAY

HOUSING DEV.

HOUSING DEV.

THE PROPERTY

2131 16TH

1 8 1 9

Midtown to the east; Downtown to the west. Employees, residents, etc of the property can enjoy being centered in the urban core with easy acess to every corner of the city.

NE A RB Y A MENI T IES

POPULAR NEARBY RESTAURANTS

58 Degrees & Holding Co.

Ace of Spades

Aioli Bodega Espanola

Amaro Italion Bistro & Bar

Art of Toys

Azul Mexican

Badlands

Bar West

Bento Box

BevMo

Block Butcher Bar

Beast & Bounty

Bottle and Barlow

Broderick Midtown

Buckhorn Grill

Burgers and Brew

Café Bernardo’s

Cantina Alley

Centro Cocina Mexicana

Chipotle

Cornerstone

Crepeville

Der Biergarten

Dos Coyotes

Eatuscany Cafe

Elixir Bar & Grill

Faces

Federalist Public House

Fieldwork Brewing Co.

FishFace Poke Bar

Fit Eats

Fox & Goose Public House

Ginger Elizabeth Chocolates

Grange

Highwater

Hot Italian

I Love Teriyaki

Identity Coffee

Iron Horse Tavern

Jack’s Urabn Eats

Karma Brew

Kru Japanese

Bombay Bar & Grill

Kupros Craft House

Lowbrau

Lucca

Luna’s Cafe & Juice Bar

Mago’s/Burgertown

Make Fish

Mercantile Saloon

Metro Kitchen & Drinkery

Mikuni Sushi

Monkey Bar

Mulvaney’s B&L

N Street Cafe

Nekter

Nido

Nishiki Sushi

Old Soul Coffee

Pachhamama Coffee Coop

Paesano’s

Paragary’s

Pizzeria Urbano

Portofino’s

Press Bistro

Pronto Pizza

Pushkin’s Bakery

Q Street Bar & Grill

R15

Red Rabbit

Rick’s Dessert Diner

Roxie Deli and Barbeque

Saddle Rock

Sakamoto

See’s Candies

Shady Lady

Shoki Ramen House

Skool

Squeeze Inn

Sun & Soil Juice

Tank House BBQ

Tapa the World

Tea Cup Cafe

Temple Coffee

Thai Basil

Thai Canteen

The Bread Store

The Golden Bear

The Mill Coffee House

The Porch

The Press

The Rind

The Waterboy

Tres Hermanas

Uncle Vito’s Pizza

University of Beer

Waffle Square Country Kitchen

Yogurt a GoGo

Zelda’s Pizza

Zocalo

THE PROPERTY

SOUTHSIDE PARK

STATE CAPITOL

ROOSEVELT PARK

SUTTER’S FORT

WINN PARK

TRUITT BARK PARKFREMONT PARK

16TH

P

R

20TH

L

PROPERTY LOCATION2131 16TH

LIFESTYLE

L ANDSALE

COMP SA list of recently-executed land sales of comparable quality

3 0

Seller: 601 CM LLC

Square Feet:38,972

601 CAPITOL MALL (SOLD APRIL 2018)

Sale Price:$7,000,000 ($180 / LAND SF)

Buyer: Shorenstein Properties

Zoning:C3-SP

Adjacent to 621 Capitol Mall office tower. South of Golden One Center.

Seller: Cordano Company

Square Feet:27,199

831 L STREET (SOLD JANUARY 2017)


Buyer: Eva hill

Zoning:C3-SP

Future redevelopment play into mixed-use. Building sale.

Seller: City of Sacramento

Square Feet:28,800

800 K STREET (SOLD JANUARY 2017)


Buyer: Sacramento Kings

Zoning:C3-SP

Future development site.

Seller: Ashley Payne

Square Feet:16,301

1601 L STREET (SOLD JULY 2016)


Buyer: CNCDA

Zoning:C2

Future development site.

3 1

CRE AT IVE DE A L S

2131 16TH2131 16TH

3 2

WPb u i l d i n g

Seller: Coyle Properties, Inc.

Square Feet:9,287

1830 L STREET (SOLD APRIL 2015)


Buyer: Ridge Capital, Inc. Zoning:

C2

Current Golden Road Brewery site.

Seller: Zachariah Family Trust

Square Feet:12,800

1831 J STREET (SOLD JANUARY 2017)


Buyer: Mo Mohanna Zoning:

C2

Currently under development for 173 residential units over retail.

Seller: Andrew Edwards

Square Feet:13,569

1631 K STREET (SOLD APRIL 2018)


Buyer: D&S Developments Zoning:

C2

Planned mixed-use development of former Sac Ballet building.

Seller: The Pacific Companies

Square Feet:25,600

1601 H STREET (SOLD NOVEMBER 2017)


Buyer: Grupe / SKK Zoning:

C2

Planned mixed-use development of 100+ units.

Seller: The Pacific Companies

Square Feet:51,200

700 16TH STREET (SOLD NOVEMBER 2017)


Buyer: Grupe / SKK

Zoning:C2

Planned re-do of the Clarion Hotel into mixed-use, hotel, and residential.

601 Capitol Mall 800 K & 831 L Street

1830 L Street1601 H & 700 16th Street1831 J Street

Sacramento economy on solid footing with job growth has largely outpaced U.S. job gains since 2012, unemployment rate about 4%.

Although development is at an all-time high for Sacramento’s central city, there is still limited new supply in every sector including office,

multifamily, retail and hospitality in the Central City this cycle. Sacramento continues to be in the top 10 markets nationwide for multifamily

and hospitality. The office market benefits from constrained supply and continued expansion. The location of this development site is argu-

able the best site in the central city benefitting from the cultural hub that is Midtown and the proximity to Downtown. While rents across as

sectors have climbed and not justify new construction, Sacramento is and will continue to be far more affordable than the Bay Area.

2131 16TH 2131 16TH

Project: 800 J

Size:225 Units over ±12,000 SF retail

Address: 800 J Street

Developer: CIM Group

Project: 16 Powerhouse

Size:50 Units over ±8,000 SF retail

Address: 1606 P Street

Developer: D&S Development

Project: 1801 L Street

Size:170 units over retail

Address: 1801 L Street

Developer: SKK Developments

Project: Fremont Mews


Address: 1400 P Street

Developer: Rembold

Project: Legado De Ravel


Address: 1520 16th Street

Developer: Ravel Rasmussen

Project: Eviva


Address: 1531 N Street

Developer: Urbancore

Project: Ice House


Address: 1710 R Street

Developer: Heller Pacific

LIFESTYLE

RADPROJEC T SUNDERWAY

What a time to be alive.#SacramentoRising

3 4 3 5

COMP L E T ED

2131 16TH2131 16TH

Project: Cap. Park Penthouses

Size:19 units over hotel over retail

Address: 1127 15th Street

Developer: FPI

Project: Warehouse Artist Lofts

Size:116 affordable units over retail

Address: 1108 R Street

Developer: CFY Development

Project: Kimpton / Sawyer Hotel

Size:45,000 SF of retail, 35,000 SF of office,250 hotel rooms,and 44 for-sale residences


Developer: Sacramento Kings

Developer: D&S / CFY Development

Developer: Sacramento Kings


Project: The Hardin


Address: 700 K Street

Project: 800 Block



Project: 1430 Q


Address: 1531 Q Street


Developer: SKK / Grupe

Developer: SKK / Grupe

Developer: Ryan Heater

Developer: Mo Mohanna

Project: K17

Size:40+ units over hotel over retail


Project: 20 PQR

Size:32 units with some retail

Address: 20th & Q Streets

Project: The Press


Address: 21st & Q Streets

Project: Yamanee

Size:134 condos over 11,000 SF of retail


Project: 19J

Size:173 units over 7,000 SF of retail

Address: 19th & J Streets

UNDERWAY

3 73 6

2131 16TH

2131 16TH

16TH STREET

JOHN MUDGETTD.R.E. LIC. 01711650916.573.3306JOHNMUDGET [email protected]

KEN TURTOND.R.E. LIC. [email protected]

2409 L STREET, STE 200 SACRAMENTO, CA 95816

916.573.3300 TURTONCOM.COM

© 2018 The information contained in the Offering memorandum is confiden-tial and provided solely for the purpose of review by prospective purchasers of the WP Building and is not to be used for any other purpose or made available to other persons without the express written consent of Turton Commercial Real Estate (“TCRE”) or Ken Turton. The material contained herein is based upon information supplied by owner in coordination with information provided by TCRE from sources it deems reasonably reliable. Summaries of documents are not intended to be comprehensive or all-inclusive but rather a general outline of the provisions contained herein and subject to more diligent investigation on the part of the prospective purchaser. No warranty, expressed or implied, is made by owner, TCRE or any other respective affiliates, as to the accuracy or completeness of the information contained herein or any other written or aral communication provided to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communication. Without limiting the general nature of the foregoing, the information shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business affairs, specific finances or specific condition of the Property since the date of preparation of the information. Prospective purchaser shall make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, inspection and review of the Property, including but not limited to engineering and environmental inspections, to determine the condition of the Property and the existence of any potential hazardous material located at the site.This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommen-dation, endorsement or advice as to the value of the Property by TCRE or the Owner. Each prospective purchaser is to rely upon its own investigation, evaluation and judgement as to the advisability of purchasing the Property described herein. TCRE is not authorized to make any representations or agreements on the part of the Owner.

Documents

2131 16TH - images1.loopnet.com · 02 03 Offering Price: $1,900,000 Address: 2131 16th Street, Sacramento CA 95818 Lot Size: 19,200 Square Feet or 0.54AC Zoning: C 2-NC - General