Homes for sale - Address not disclosed, Grass Valley, CA 95945

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Curt Frandsen

curt@thefrandsengroup.com +1(925) 998-4276

$ 699,000

Est. payment -/mo

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Active

Address not disclosed Grass Valley, CA 95945

1.14 Acres Lot

UPDATED:

11/04/2024 05:27 PM

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 224107475

HOA Y/N No

Originating Board MLS Metrolist

Year Built 2000

Lot Size 1.140 Acres

Acres 1.14

Property Description

One of four light industrial condominium units comprising a +-23,000 SF complex situated on a 1.14 acre common parcel. Unit 4 is +-4,576 rentable sq. ft. on one level with ground floor access. This modern split-level concrete tilt-up building was constructed in 2000 and received a new roof in 2021. The property is fully leased to one tenant until January 2028. The tenant operates a heated yoga studio and has invested significant sums to improve the specialized space, including high intensity heating systems and showers. They have been successfully operating since 2018 and recently signed a new 5-year lease. This investment is priced to achieve above an 8% actual capitalized return, and the property should benefit from windfall appreciation upon completion of the nearby Dorsey Marketplace Shopping Center and the extension of Spring Hill Drive up to Dorsey Dr.

Location

State CA

County Nevada

Area 13105

Direction Highway 49 to Idaho Maryland to Spring Hill

Location Details Business Park,Freeway Nearby,Restaurant Nearby,Hospital Nearby,Shopping Nearby,Hotel/Motel Nearby,Industrial Area,Warehouse

Interior

Heating Roof Package Joint, Gas, MultiZone, Natural Gas, Other

Cooling MultiUnits, Roof Package Joint

Flooring Varies by Unit

Exterior

Parking Features Common Area Assigned, Street

Utilities Available Internet Available, Other, Natural Gas Connected

Water Access Desc Irrigation District,Public

Roof Type Other

Total Parking Spaces 18

Building

Sewer Public Sewer

Water Irrigation District, Public

Others

Senior Community No

Tax ID 009-201-050-000

Special Listing Condition None

Listed by Highland Commercial, Inc.