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Grass Valley,CA 95945
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 at approximately a 7.7% in-place 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
Garage 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