Light Industrial Condominium - Fully Leased Investment

For Sale

155 Spring Hill Drive, Unit 4, Grass Valley, CA 95945

This Grass Valley property for sale is located at 155 Spring Hill Drive, Unit 4. The current listed sale price for Light Industrial Condominium - Fully Leased Investment is $699,000. Light Industrial Condominium - Fully Leased Investment is situated on a lot that is 1.14 acre in size.

Contacts

broker

Lock Richards

Highland Commercial

Property Details

  • Property Type Industrial - Flex - Industrial
  • Property Size 4,576 SF
  • Units 1
  • Lot Size 1.14 Acre
  • Additional Rent Contact for pricing
  • Parking Spaces Avail. 18
  • Parking Ratio 3.00 / 1,000 SF
  • Property Tenancy Single Tenant
  • Year Built 2000
  • Year Renovated 2021
  • Date Updated Nov 4, 2024
  • Electricity Service 1200 amp main, 3 phase
  • Fire Sprinklers Other
  • HVAC None
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.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.

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Highlights

  • Fully leased single tenant light industrial condominium.
  • Seller financing considered up to 2 years.
  • +-4,576 square feet leased until January 2028.
  • Specialized TIs by tenant adds to lease security.
  • Aggressively priced at over an 8% return on cost.

Attachments

Getting around

  • 34/100

    Walk Score ®

  • 21/100

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Location

  • City Grass Valley, CA
  • Zip Code 95945

Points of Interest

  • Colfax

    9.94 miles

  • Shell

    0.55 miles

  • Chevron

    0.61 miles

  • Quik Stop

    0.64 miles

  • Speedway

    0.81 miles

  • Arco

    0.83 miles

  • 76

    1.13 miles

  • Cardlock: 133 Lower Grass Valley Road

    1.78 miles

  • Tesla Supercharger

    2.09 miles

  • Pine Street Burgers

    0.44 miles

  • Beach Hut Deli

    0.55 miles

  • Big A's Drive In

    0.58 miles

  • El Favorito Taqueria Mexican Foods

    0.59 miles

  • Lamppost Pizza

    0.70 miles

  • Round Table Pizza

    0.70 miles

  • Panda Express

    0.70 miles

  • Jack in the Box

    0.75 miles

  • Taco Bell

    0.77 miles

  • Burger King

    0.79 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Lock Richards

Highland Commercial