Now’s The Time: Historic Crest Theatre Property In Downtown Sacramento Listed For Sale

SACRAMENTO, Calif. — One of Sacramento’s most iconic vintage theaters is now on sale for $21 million, along with several other businesses that are part of the same property.

Robert Emerick is the current owner of the Historic Crest Commercial Center. Located on K Street between 10th and 11th streets, the nearly 37,000 square foot property includes the Crest Theatre, Empress Tavern, Public Policy Advocates, Capitol Books, Crest Café, Nash & Proper and Hao Bao Dumpling.

Emerick, an engineer by trade, said he bought the property in 2011 to make improvements to it. In his time as owner, he replaced the roof of the whole complex, replaced the HVAC system inside the Crest Theatre, restored the neon signage and connected the Empress Tavern restaurant to the theater. Now, Emerick said he is ready for something else.

“If I’m going to sell it, now’s the time,” Emerick said. “Frankly, there’s nothing for an engineer like myself to do anymore. It’s kind of, I have a nice operator in there. They’re doing a great job, they’re bringing a lot of shows in, and it’s time for me to move on to another project.”

Turton Commercial Real Estate listed the property for sale last week. The portfolio describes the Crest Theatre complex as “one of the entertainment pillars of the central business district and a highly reliable investment.”

“There’s only so many iconic venues that you can buy right in the heart of an entertainment district,” president Ken Turton said.

Turton said he is not expecting a lot of industrial, office or multi-family developers to go after the property, but he added that those are not necessarily the type of buyers that are being prioritized.