For Sale
$699,000

155 Spring Hill DrGrass Valley, CA 95945

High-bay warehouse, office space, great ROI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 4,576 square foot industrial condominium unit in Grass Valley, California. Located at 155 Spring Hill Drive, Unit 4, this property boasts a desirable flex space configuration, encompassing high-bay warehouse/manufacturing space (approximately 4,424 square feet) featuring 26-foot ceilings and two large truck doors, and low-bay office/R&D space (approximately 9,152 square feet total, split evenly between ground and upper levels). The building, constructed in 2000 and featuring a new roof installed in 2021, sits on a 1.14-acre lot within a larger 23,000 square foot complex. Currently, the property is fully leased to three tenants, generating a substantial net operating income (NOI) of $54,000, representing a 7.73% cap rate. However, one tenant (occupying approximately 7,400 square feet) will vacate at the end of the year, presenting a unique opportunity for an owner-occupier to acquire a facility with existing rental income (approximately $6,700 per month from the remaining tenants) and potential for expansion. The property is zoned M-1 and benefits from its proximity to the upcoming Dorsey Marketplace Shopping Center and the planned extension of Spring Hill Drive to Dorsey Drive, promising future appreciation. The asking price is $699,000, or $153 per square foot. The property is part of a four-unit complex.

Highlights

  • Fully leased, single-tenant light industrial condo.
  • Seller financing available for up to two years.
  • 4,576 square foot building, leased through January 2028.
  • Tenant-paid improvements enhance lease security.
  • 7.7% in-place capitalization rate.

Property Details for 155 Spring Hill Dr

Property type
Warehouses, Life science properties
Square Feet
4,576 SF
Year Built
2000
Lot Size (sq. ft)
49,658 SF
Units
4

Location Insight

City
Grass Valley
County
Nevada
State
California
Latitude
39.2248357
Longitude
-121.04314
155 Spring Hill Dr, Grass Valley, California

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155 Spring Hill Dr
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