Lake View Plaza | 3330 Lake Tahoe Blvd
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Lake View Plaza 3330 Lake Tahoe Blvd
14,600 SF Vacant Retail Building South Lake Tahoe, CA 96150 $4,250,000 ($291/SF)
Investment Highlights
- Lakeview Plaza is a commercial retail center with twelve retail units, covering approximately 14,600 square feet on a +/-1.27 acre parcel.
- All twelve units are currently occupied, providing steady cash flow from day one.
- The property can be converted into 48 Residential Units of Use (RUU) or Tourist Accommodation Units (TAU) and up to 72 MFERUUs.
- The property is located in a high-traffic area with stunning lake views, ensuring significant visibility and accessibility.
- Existing leases are below market rates, offering substantial upside potential through renewal, re-leasing, and leasing up.
- Current zoning allows 40 hotel units and 15 multi-family units per acre, with a possible increase to 65 by Fall 2025.
Executive Summary
Property Overview
Lakeview Plaza is a premier commercial retail center including twelve (12) retail units, spanning approximately 14,600 square feet, and strategically located on a +/-1.27 acre parcel across from the picturesque shores of Lake Tahoe. The subject property is situated in a high-traffic area with stunning lake views, All twelve units are currently occupied, ensuring steady cash flow from day one. The tenant mix includes a diverse range of services and dining options, contributing to the center’s strong customer draw.
Redevelopment Potential
Lakeview Plaza presents a compelling redevelopment opportunity. All existing leases are below market rates and based on their usable square footage offering substantial upside potential upon renewal, re-leasing, and/or leasing up. Each lease includes a termination on sale clause, providing investors with the flexibility to reposition the property immediately upon acquisition. Property size would convert into approximately 48 Residential Units of Use (RUU) or Tourist Accommodation Units (TAU) and up to 72 Multifamily Units of Use (MFERUU). Current zoning allows for up to 40 hotel units and 15 multi-family units per acre. Additionally, a pending city amendment could increase this to 65 multi-family units per acre, anticipated to be finalized by Fall 2025.
Lakeview Plaza is a premier commercial retail center including twelve (12) retail units, spanning approximately 14,600 square feet, and strategically located on a +/-1.27 acre parcel across from the picturesque shores of Lake Tahoe. The subject property is situated in a high-traffic area with stunning lake views, All twelve units are currently occupied, ensuring steady cash flow from day one. The tenant mix includes a diverse range of services and dining options, contributing to the center’s strong customer draw.
Redevelopment Potential
Lakeview Plaza presents a compelling redevelopment opportunity. All existing leases are below market rates and based on their usable square footage offering substantial upside potential upon renewal, re-leasing, and/or leasing up. Each lease includes a termination on sale clause, providing investors with the flexibility to reposition the property immediately upon acquisition. Property size would convert into approximately 48 Residential Units of Use (RUU) or Tourist Accommodation Units (TAU) and up to 72 Multifamily Units of Use (MFERUU). Current zoning allows for up to 40 hotel units and 15 multi-family units per acre. Additionally, a pending city amendment could increase this to 65 multi-family units per acre, anticipated to be finalized by Fall 2025.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
14,600 SF
Building Class
C
Year Built
1962
Price
$4,250,000
Price Per SF
$291
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.26
Lot Size
1.27 AC
Zoning
GC - The property offers proximity to renowned attractions such as Heavenly Mountain Resort, Edgewood Tahoe Golf Course, and the bustling downtown area.
Parking
50 Spaces (3.42 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Pylon Sign
- Waterfront
- Air Conditioning
Bike Score ®
Very Bikeable (89)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 027-361-004-000 | Improvements Assessment | $861,993 |
| Land Assessment | $492,567 | Total Assessment | $1,354,560 |
PROPERTY TAXES
Parcel Number
027-361-004-000
Land Assessment
$492,567
Improvements Assessment
$861,993
Total Assessment
$1,354,560
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Lake View Plaza | 3330 Lake Tahoe Blvd
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