Dental Arts Professional Building For Sale: 14,868 SF, 85% leased, 6% Cap Rate

2650 21st Street, Sacramento, CA

$4,300,000

Price

6%

Cap Rate

6%

Pro Forma Cap Rate

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Street
Map
Overview
Cap Rate
6%
Pro Forma Cap Rate
6%
NOI
$258,087
Building Size
14,868 sqft
Lot Area
32,000 sqft
Occupancy
85%
Class
C
Year Built
1975
Price Per Sqft
$289
Tenancy
Multiple
Floors
2
Parking Spots
41
Year Last Renovated
2018
Parking Ratio
2.76
Number of Elevators
1
HVAC
Central Heating and Cooling
Floor
Carpet
Investment Strategy
Opportunistic
Description

The Dental Arts Professional Building located at 2650 21st St, Sacramento is a ±14,868 sq ft two-story medical/dental building comprising 8 suites and a strong mix of internet-resistant dental tenants. The building is situated in the northwest corner of Curtis Park bordering Land Park just south of Midtown. Its central location is just five blocks from I80, three miles from the I80/I5/99 junction, and 1.5 miles from the financial district. With more than 50% of the building leased through the end of 2026 and significant tenant improvements invested into the building’s common areas and suites, the Dental Arts Professional Building is a well positioned investment-grade commercial property poised to enjoy stable long-term performance with minimal tenant turnover.
Built in 1977, this pride-of-ownership building underwent a major renovation and repositioning in 2018 including new interior and exterior paint, new carpet throughout, new directory signage, and new 21st Street-facing building branding establishing it as a landmark medical/dental building in the surrounding community. In September of 2022, the ownership also completed an energy retrofit, converting all thermostats in the building to wifi-enabled smart thermostats with cloud-based management in addition to LED lighting upgrades to minimize both the building’s carbon footprint as well as CAM reimbursements, further adding value to the buildings tenants.

Highlights
  • Pandemic and internet resistant medical office asset class
  • Significant investments in tenant improvement and common area renovation
  • Located in Sacrament's prestigious Curtis Park neighborhood
  • Multi-tenant rent roll for investment diversification
  • Located in a mature submarket with barriers to entry and minimal competition
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