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860-870 Riske Ln
West Sacramento, CA 95691
Land For Sale
·
2.89 AC
INVESTMENT HIGHLIGHTS
- West Sacramento’s Most Exciting Residential and Commercial Development Opportunity
- Located in the Heart of the Bridge District
- Located in Opportunity Zone (#06113010201)
EXECUTIVE SUMMARY
The future development of the property will be Mixed-Use Commercial/ Residential, Office or Medical. The Bridge District is located within a qualified Opporunity Zone.
The current operation of the Sacramento Stucco Co. has been located there for many decades predating the installation of The Bridge District’s specific plan, which is West Sacramento’s attempt to revitalize and utilize its waterfront real estate. The property in total is 2.87 acres consisting of two parcels (1.16 AC & 1.71 AC).
The property is located at the northwest corner of 5th and Bridge Street with an off-ramp directly adjacent to the property from Highway 50/Business-80. It is located to the north of the highway and to the south of the Tower Bridge which connects Downtown Sacramento to West Sacramento. It is also about 0.25mi south of Raley Field, home to the Rivercats minor league baseball team. Immediately east of the property are multiple new residential developments consisting of townhomes and apartments, built by Fulcrum Development, and also The Barn—a multi-use event center with a tap room and restaurant.
The property’s strengths include its prominent location within The Bridge District, its future zoning as Waterfront Commercial and the fact that the City of West Sacramento is excited and encouraging mixed-use, high-density development in this area. The City of West Sacramento is a friendly and resourceful municipality to work with that encourages development and streamlines the process for developers.
The current industrial operation on the property, Sacramento Stucco Co., can continue to operate under the current zoning; however, once the occupant leaves the property, the zoning will convert to a WF zoning code (Waterfront Commercial). At that point, no more industrial uses will be allowed in The Bridge District. Only mixed-use, high-density residential, office, medical, and retail will be permitted for the future use of the property.
PROPERTY FACTS
| Sale Type | Investment | Property Subtype | Residential |
| Sale Conditions | Proposed Use | ||
| No. Lots | 1 | Total Lot Size | 2.89 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | WF - Waterfront Commercial | ||
| Sale Type | Investment |
| Sale Conditions | |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 2.89 AC |
| Opportunity Zone |
Yes |
| Zoning | WF - Waterfront Commercial |
1 LOT AVAILABLE
Lot
| Price | $6,843,375 CAD | Lot Size | 2.89 AC |
| Price Per AC | $2,368,769.56 CAD |
| Price | $6,843,375 CAD |
| Price Per AC | $2,368,769.56 CAD |
| Lot Size | 2.89 AC |
860-870 Riske Lane is a well-located property in the heart of The Bridge District of West Sacramento, CA.
DESCRIPTION
The Future of the Property is Bright! The future of this property is as a commercial or mixed use with mid-to-high density residential development. Once the current operation, Sacramento Stucco Co., shuts down their business, the property will automatically convert from an industrial use and zoning to its new zoning code of Waterfront Commercial (WF). Under this zoning, no industrial uses are allowed (this goes for all of the properties within The Bridge District). The permitted uses for Waterfront Commercial include Multi-Family, Office, Retail, Medical, or Mixed-Use. The highest and best uses for the property would be Multi-Family and/or Retail. The property is also located within a qualified Opportunity Zone.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,302,742 CAD | |
| Land Assessment | $661,429 CAD | Total Assessment | $3,964,170 CAD |
PROPERTY TAXES
