This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
155 Spring Hill Dr - Single-tenant Flex Bldg, 8.4% In-place Cap
4,576 - 9,000 SF Industrial Condo Units Offered at $699,000 - $1,199,000 Per Unit in Grass Valley, CA 95945
Investment Highlights
- Offering 1: Fully leased single tenant light industrial investment. +-4,576 square feet leased until January 2028. 8.4% Cap.
- Seller financing considered up to 2 years.
- Offering 2: 7400 - 9000 SF owner/user light industrial building. 26' clear heights, large truck doors and high 3-phase power.
Executive Summary
2 Separate Offerings: 1) 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 8.4% 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. 2) Units 3 is 9,000 SF consisting of approximately 50% high bay warehouse with 26' ceilings and 2 large roll-up doors, and 50% office/R&D space. This modern concrete tilt-up building was constructed in 2000 and received a new roof in 2021. Unit 3 is currently divided into two rentable areas (but could easily function as one space as well): 1) a 1600 SF high bay manufacturing space with a long-tenured month-to-month tenant at a rent 40% below market; and 2) a 7,400 SF space occupied by a manufacturing/engineering firm that will be leaving the building at year end after a 20-year stint; creating an exciting opportunity for an owner/user buyer to acquire and occupy a facility with both rental income and future expansion capability. The property is poised to benefit from windfall appreciation upon completion of the nearby Dorsey Marketplace Shopping Center and the planned extension of Spring Hill Drive up to Dorsey Dr.
Property Facts
2 Units Available
Unit 3
| Unit Size | 9,000 SF | Condo Use | Industrial |
| Price | $1,199,000 | Sale Type | Owner User |
| Price Per SF | $133.22 |
| Unit Size | 9,000 SF |
| Price | $1,199,000 |
| Price Per SF | $133.22 |
| Condo Use | Industrial |
| Sale Type | Owner User |
Description
Grass Valley (or Nevada City) is nestled in the Sierra Nevada foothills only one hour from both Lake Tahoe and Sacramento. The region is located below the snow line and above the fog for the perfect 4-season climate. It lies within 90 minutes of 4 major universities (UC Davis, CS Chico, CS Sacramento & UN Reno) and 2 international airports (Sacramento & Reno). Nevada County’s economy has effectively transitioned from mining/logging/construction to video technology, digital media and other high-tech industries, balanced by national caliber arts and entertainment sectors. With superb schools and multiple national awards relating to unbeatable quality of life, the Grass Valley/Nevada City region continues to attract residents and businesses from nearby Sacramento and the SF Bay Area.
The Wolf Creek Industrial Park is a small light industrial subdivision located just off Idaho Maryland Road only 1/4 mile from Highway 49 in central Grass Valley.
Sale Notes
One of four industrial condominium units comprising a +-23,000 SF complex situated on a 1.14 acre common parcel. Units 3 is 9,000 SF consisting of approximately 50% high bay warehouse with 26' ceilings and 2 large roll-up doors, and 50% office/R&D space. This modern concrete tilt-up building was constructed in 2000 and received a new roof in 2021. Unit 3 is currently divided into two rentable areas (but could easily function as one space as well): 1) a 1600 SF high bay manufacturing space with a long-tenured month-to-month tenant at a rent 40% below market; and 2) a 7,400 SF space occupied by a manufacturing/engineering firm that will be leaving the building at year end after a 20-year stint; creating an exciting opportunity for an owner/user buyer to acquire and occupy a facility with both rental income and future expansion capability. The property is poised to benefit from windfall appreciation upon completion of the nearby Dorsey Marketplace Shopping Center and the planned extension of Spring Hill Drive up to Dorsey Dr.
Unit 4
| Unit Size | 4,576 SF | Sale Type | Investment |
| Price | $699,000 | Cap Rate | 7.73% |
| Price Per SF | $152.75 | NOI | $54,000 |
| Condo Use | Industrial |
| Unit Size | 4,576 SF |
| Price | $699,000 |
| Price Per SF | $152.75 |
| Condo Use | Industrial |
| Sale Type | Investment |
| Cap Rate | 7.73% |
| NOI | $54,000 |
Description
Grass Valley (or Nevada City) is nestled in the Sierra Nevada foothills only one hour from both Lake Tahoe and Sacramento. The region is located below the snow line and above the fog for the perfect 4-season climate. It lies within 90 minutes of 4 major universities (UC Davis, CS Chico, CS Sacramento & UN Reno) and 2 international airports (Sacramento & Reno). Nevada County’s economy has effectively transitioned from mining/logging/construction to video technology, digital media and other high-tech industries, balanced by national caliber arts and entertainment sectors. With superb schools and multiple national awards relating to unbeatable quality of life, the Grass Valley/Nevada City region continues to attract residents and businesses from nearby Sacramento and the SF Bay Area.
The Wolf Creek Industrial Park is a small light industrial subdivision located just off Idaho Maryland Road only 1/4 mile from Highway 49 in central Grass Valley.
Sale Notes
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.
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
zoning
| Zoning Code | M1 (Light Industrial zoning allows wide array of uses from office to retail to industrial.) |
| M1 (Light Industrial zoning allows wide array of uses from office to retail to industrial.) |
-
Lock Richards -
Highland Commercial, Inc.
Presented by
155 Spring Hill Dr - Single-tenant Flex Bldg, 8.4% In-place Cap
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.