Sacramento Portfolio of properties for Sale - Midtown
Turton Commercial Real Estate is pleased to offer 2407 J Street and 2408 I Street for sale or lease. 2407 J Street is a partially leased, three-story, 21,538 square foot (“SF”) mid-century modern building constructed of concrete, and glass. 2408 I Street is 6,400 SF land parcel zoned R3 and entitled for up to 30 residential units. The offering also includes 2408 I Street, a 6,400 square foot parcel of land that extends from I Street to the alley, and is currently paved for parking up to 11 regular-sized vehicles. This is an excellent added layer of parking to an already well-parked building. Additionally, this land could be a prime candidate for development of up to 36 units* in the future, considering the great location, and full-length lot. To discuss 2407 J Street and 2408 I Street in more detail please contact Ken Turton and/or David Khedry. *Subject to City and Government approvals.
2407 J Street was designed by Starks, Nacht and Lewis Architects, and built in 1961, as a state of the art building in what is now known as the mid-century modern style. Since that time the building has seen many positive renovations and improvements to make it one of Midtown Sacramento’s most unique and appealing mixed-use, retail and creative office buildings.
Located prominently in the heart of the “Midtown Grid” on the hard corner of 24th and J Streets, one of Midtown’s most visible and commerce-heavy corners, the Property represents an excellent example of commercial mixed-use within the urban core.
2407 J Street features a combination of retail and office tenants, in tandem with a generous amount of on-site parking, diversifying the building’s income and creating a more secure investment. The Building is approximately 21,538 square feet divided among three floors, and features both surface and underground parking, very rare to find in Midtown Sacramento.
The building has had several notable capital improvements: First, the two elevator cabs (the building features two elevators) and motors have been entirely replaced (an estimated $250,000-$350,000 expense). What's more, building ownership installed elevator key codes to ensure maximum security for tenants on every floor. The common areas have all been renovated with Class A finishes ($150,000 expense). The building features a key-fob and camera security system that extends to the elevator, providing security to all tenants in the building.
The Tenants:
Rick’s Dessert Diner has been a Midtown Sacramento institution since 1986, earning a devoted following with its extensive selection of house-made cakes, pastries, and classic American desserts. Originally located on K Street, the diner relocated to its current, larger corner space in 2013, enhancing its visibility and seating capacity while maintaining its signature 1950s diner ambiance. Open late and known for its consistently long lines, Rick’s has cemented itself as a go-to destination, activating the streetscape with steady foot traffic and outdoor seating. The diner occupies occupies approximately 4,000 rentable square feet (“RSF”) with a lease secured through October 2029, paying ap-proximately $14,000 in gross monthly rent, including CAM reimbursements. This hard corner location benefits from excellent signage, a built-in customer base, and proximity to Midtown’s vibrant mix of re-tail, dining, and entertainment.
Midtown Boxing & Fitness has become a go-to destination for those looking to train in an energetic and community-focused environment. Known for its expert coaching, high-intensity workouts, and welcoming atmosphere, the gym attracts a dedicated membership base that values both fitness and camaraderie. Its prime location in Midtown provides excellent visibility, and the large windowline along 24th Street enhances its street presence, drawing steady foot traffic. The gym occupies approximately 3,100 SF of the ground floor on a month-to-month lease, paying approximately $4,600 in gross monthly rent. This rent was renegotiated during Covid when gyms were particularly impacted and has not been readjusted back to market rent which should be $2.25 per SF per month NNN.
Cook Brown LLP, a leading employment law firm, has established its presence in this prime Midtown office space, providing specialized legal services to businesses and employers. Known for their expertise in employment law, the firm has built a strong reputation, serving cli-ents from their creative office environment. Cook Brown LLP occupies the entire second floor under a lease secured through June 2029 and currrently pay approximately $20,965 in gross monthly rent which includes 22 parking spaces at $100 per space per month. The building’s extensive window line along the north, west and south facing walls provides an abundance of natural light. It would be virtually impossible to replicate this space anywhere in Midtown, with this much natural light, nearby amenities, and on-site parking.
Available Space:
The 7,217 SF third floor of the building is currently vacant, previously occupied by Rainforth Grau Architects, who built out the space with high-end finishes, including top-of-the-line LED lighting, light wood cabinetry, employee lockers, a break area with a dishwasher, and more. This turnkey creative office space is thoughtfully designed, featuring a mix of private offices, conference rooms, open workspace, exposed ceilings, and metal ducting. Given its excellent condition, an investor may need to spend very little to secure a tenant. A tenant would be hard-pressed to find turnkey space of equal quality for lease, at a lease rate of $2.40 per SF per month, fully-serviced, when competitive spaces lease for $2.50 per SF and up. For an owner-user, this is a rare opportunity to occupy a full-floor office space in Midtown while benefiting from rental income from the rest of the building. With a well-designed layout, on-site parking, and a prime location near dining and retail, this space is an ideal long-term solution for a business seeking a high-quality office environment.
