1231 I Street Unit 205
Sacramento, CA 95814

1231 I Street, Suite 205 a is leased office condo investment situated within a professional office building in the downtown Sacramento Central Business District, and is walking distance to the State Capitol, DoCo, City Hall, and the County and Federal Courthouses. The office condo measures 1,470 square feet and features a reception area, large conference room, storage room, and open work space. The condo is currently 100% occupied by the California Rice Commission, which has leased this specific office condo since October 2011. The California Rice Commission has approximately 31 months remaining on its current lease term and has a 5-year option to extend the lease through December 3031 at a fixed rent. CA Rice is currently paying $2.45 PSF full-service which equates to $3,602 per month plus an estimated CAM reimbursement of $250 per month. The asking price is $435,000 which equates to a 5.74% capitalization rate based upon actual income and proforma operating expenses. The average annual return over the next eight years, provided CA rice extends its lease, is 5.83%. Association handles all maintenance and repair to the building; very little management responsibilities.