714-722 E St - 8F 0.42 - 0.88 Acre Commercial Land Lots Offered at $2,819,354 - $6,133,162 CAD Per Lot in Sacramento, CA 95814

Turton Commercial is pleased to present for sale a prime infill development opportunity at 8th Street, F Street, and E Street in the northwest corner of Downtown Sacramento, surrounded by development projects under construction including Sacramento County Courthouse and The Railyards. The Subject Property consists of nine (9) parcels of vacant land approximately 1.3 acres or 56,165 square feet, combined. 714-722 E Street contains 4 of the 9 lots. Bifurcated by Eggplant Alley, the Subject Property represents two development sites of 0.42 AC/17,800 SF and 0.88 AC/38,365 SF. The parcels are being offered for sale together but may be purchased separately or in phases. The asking purchase price is $115 per square foot land or $6,500,000 for the entire Subject Property.
Currently, the Subject Property is zoned OB-SPD (Office Building) on half the parcels and RO-SPD (Residential Office) on the other half of the parcels. These are Low Rise Mixed-Use Zones in the Central City Specific Plan, with General Plan Designation of Urban Corridor Low. However, the City of Sacramento has identified these parcels to be rezoned for Residential Mixed Use, with up to 15.0 FAR (floor-to-area ratio) in the draft 2040 General Plan Update. A buyer can take advantage of the tremendous increase in development intensity for the site, either when the 2040 General Plan Update is approved or a buyer may act earlier and request for its entitlements application to be reviewed based upon the 2040 General Plan Update.
The Subject Property is ideally suited for a development project of two (2) buildings of five (5) to eight (8) stories. The buildings may be 100% residential or mixed use with residential units above retail/commercial/live-work space on the ground floor.