2114-2116 K Street
Sacramento, CA, 95816
$
4,300,000
Bedrooms--
Baths--
Sq
9,600
Monthly Estimate*
$
27,151
for $4,300,000. This 9,600 square foot building was built in 1970 on a lot size of 0.4408.
2114 K Street, 2116 K Street, and 2119 L Street is a three-property portfolio in the heart of Midtown, Sacramento that is offered for sale together as a triple net leased investment. 2114 and 2116 K Street are contiguous single-story office buildings that are connected via interior opening and measure 9,600 rentable square feet total. 2119 L Street, which is located across the alley from the buildings, is a separate 6,400 square foot parking lot featuring 20 parking stalls. The Property is 100% leased to Wilcoxen Callaham, LLP (Wilcoxen''), a personal injury and malpractice law firm, which was founded in Sacramento in 1979 and has continuous occupied the Property for over 47 years. Wilcoxen recently extended the lease term for the entire Property through July 31, 2031, thus a new owner will inherit a nearly five-year term at closing. The lease is a traditional triple net structure whereby Wilcoxen reimburses the ownership for all operating expenses and nearly all maintenance and repair to the Property in addition to the base rent, janitorial, and utility expenses. Wilcoxen currently pays $2.15 per square foot, triple net, for 9,600 total square with 10 free parking stalls immediately behind 2116 K Street. Wilcoxen pays $2,222 per month for the 20 additional parking stalls located at 2119 L Street. Wilcoxen has one 3-year option to extend the lease through July 2034 with 3% annual rent increases. The current net operating income is $274,346 with Wilcoxen paying its pro-rata share of operating expenses (including property tax increases) in addition to the base rent. The Property is offered for $4,300,000 which equates to a 6.38% capitalization rate in the first year. Over the remaining 5 years of the firm term, the average annual return is approximately 6.77%. If Wilcoxen exercises its three-year extension option, thereby extending the term to 2034, the average annual return over eight years is approximately 7.12%. The property is in the heart of Midtown, just two blocks from the MARRS Building, Midtown Farmer's Market, Temple Coffee at 22K and countless other amenities.
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Features
General
Sewer
Public Sewer
Heating
Central
Cooling
Central
Utilities
Other
Roof
Flat
Construction Materials
Masonry
Brick
Wood
Year Built
1970
Electric
Separate Electric Meter
Tenant Pays
Common Area Maintenance
Sewer
Electricity
Taxes
Gas
Trash Collection
Water
Insurance
Janitorial Services
Maintenance
Stories Count
0
Property Subtype
Office
Location
Downtown
Business Type
Commercial
Professional Service
County
Sacramento
Property Type
Commercial Sale
Building Features
See Remarks
Close Price
0.0
Status
Active
Directions
Located near the corner of 22nd and K Streets.
City
Sacramento
Zoning Description
C-2-SPD
Number Of Units Total
1
MLS Area
10816
Lot Size Square Feet
19200.0
Ok to Lease
5 Years
Standard Status
Active
Year Built Source
Assessor Auto-Fill
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Interior
Flooring
Carpet
Luxury Vinyl Plank
0
Office Area
9600
Total Stories
0
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Exterior
Parking Features
Exclusive
Offsite
Water Source
Public
Total Parking
30.0
Foundation Details
Slab
Number of Buildings
0
Building Area Total
9600.0
Lot Size Acres
0.4408
Lot Size Source
Owner
Parking Ratio
0.0
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* Excluded Features
List By
Ken Turton, Broker
Broker
jonlang@turtoncom.com
Email
Affordability Calculator
- Monthly Principal & Interest
- $27,151
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
Commerical listings in Sacramento, CA
Average List Price
$1,238,320
Percent of Sale Price
71%
About Sacramento, CA
501,568
Population
23%
Since 2002
$
54,303
Median Income
35.68
Median Age
29%
Households with Children
Trends Information provided by ATTOM Data Solutions.
295416
Elementary School
295437
Middle School
Unknown High School
High School
Pricing History
| Date |
Price |
Price Change |
Description |
|
9/17/2026
|
$4,300,000
|
|
Listed Price
|