330 12th St 0.15 Acres of Commercial Land Offered at $1,356,642 CAD in Sacramento, CA 95814

Turton Commercial is pleased to present a prime infill site for sale with entitled plans for a development project called Alkali Flats on 12th. 330 12th Street consists of one parcel of vacant land approximately 6,400 SF, or 0.146 acre, zoned General Commercial (C-2-SPD) within the Central City Special Planning District and has a General Plan designation of Urban Corridor Low. The Subject Property is ideally suited for a development project of 5 story mixed use building with 24 luxury residential units above 5,400 SF of retail/commercial space on the ground floor, plus a rooftop deck patio overlooking the Downtown skyline.
In the project plans, each floor would have six one-bedroom/one-bathroom apartments at about 600 square feet each. The 5,400 square feet of retail would be divided into three spaces, including one labeled as a restaurant and bar. The restaurant would be on 12th Street, while the other retail space would face D Street. An entrance lobby to the apartments would be on 12th Street between the restaurant and retail space. The project calls for a total of 26,000 SF, mixed use Type II construction sprinklered building, with 4,805 SF concrete podium ground floor and 4 floors of light gauge steel frame structure and moment frames of approx. 5,284 SF each. The project would have an occupied roof deck area of 704 SF, rooftop solar panels as well as plantings around the roof perimeter.
The Property represents a rare opportunity to acquire land that has plans in progress for a development project. The new owner can take over the planning process to complete the entitlements to approval and build permits, and the buyer can then start construction.
Furthermore, if a buyer wishes, there is potential opportunity to increase density and revise the entitlements to build more residential units. Comparable new construction multifamily projects in urban Sacramento are four to six stories and are achieving rents in the $3.20-$3.70 per square foot range. Current fair market rent for the units built on the Subject Property are projected to be $2,200 per month.
Alkali Flat is urban Sacramento’s most historic neighborhood with a mix of new projects nearby with thousands of units recently completed, under development, and planned for development. The Subject Property is well-positioned on the corner of D Street and 12th Street - a major thoroughfare from Highway 160, benefitting retail tenants on the ground floor of the project. Residential residents of the project can enjoy a short walk or bike ride to more than 100 restaurants, bars, art galleries and entertainment venues. The Subject Property provides walkability to the entire Sacramento urban core.