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|Call for Offers||2021-10-30|
Jones Lang Lasalle Americas, Inc. JLL as exclusive advisor, is pleased to offer for sale the 0.85 acre development site in Downtown Sacramento. The centrally located site is an ideal covered land play; the flexible zoning allows high density office or residential development and the existing Goodyear Auto Service shop provides current income.
Prime Development Site
- Irreplaceable Location: 1121 I St is located in the center of the Sacramento CBD, where 30.7% of households within one mile make more than $100,000 a year
- In Place Tenant Income: The current tenant pays rent, on a month-to-month lease, providing income to fund entitlements and cover carry costs.
- Excellent access: 1121 I St is conveniently located less than a mile from the 7th and Capitol light rail station which provides access to 54 individual stations across 43 linear miles of the greater Sacramento area. The Property is also a 10 minute walk from the I Street Amtrak station which gives critical access to the San Francisco Bay Area and beyond
- High Density Residential Zoning: Up to 250 units/ acre and a FAR of up to 15 are allowed on the Site per the 2035 General Plan
- Abbreviated Environmental Review: The Central City Specific Plan included an Environmental Impact Report (EIR) that was approved in 2018. Development which is consistent with the program proposed in the EIR is anticipated to require no further environmental review, or an abbreviated process, cutting the pre-development timeline by approximately 18 months
- Award-winning Amenities: Downtown Sacramento is celebrated for its range of attractions from high-end dining, hipster coffee to major sports team, such as the Kings
- Diversified and Growing Economy: Sacramento’s economy is anchored by substantial government activities, thanks to its position as California’s State Capitol. World-renowned UC Davis, Sacramento State University and five community colleges result in long-lasting institutions and a highly educated workforce. These economic drivers have resulted in an employment rate below 5% and year-over-year median income increase over 10%