110 Spring Hill DrGrass Valley, CA 95945

This exceptional investment opportunity presents a 5,500 square foot flex/warehouse property in Grass Valley, California, currently leased to CommonSpirit/Dignity Health. The property, located at 110 Spring Hill Dr Units 2&3, consists of approximately 2,000 square feet of warehouse space and 3,800 square feet of two-story office space within a well-maintained industrial condo park. The tenant, a creditworthy S&P BBB-rated entity, has occupied the premises for over ten years and holds a lease extending to September 25th, with two three-year options at fair market value. The current rent is significantly below market rate, offering substantial potential for increased cash flow upon lease renewal. The current cap rate is approximately 4%, projected to rise to approximately 7% at market rent and after a reduction in operating expenses. The property sits on a 2.84-acre lot and is zoned M1. The asking price is $795,000, representing $144.55 per square foot and $397,500 per unit. Operating expenses are currently $0.26 per square foot per quarter, including a temporary surcharge for a recently replaced roof; this surcharge will decrease by $0.13 per square foot per quarter once the roof repayment is complete. This property offers a rare opportunity to acquire a stable, value-add industrial investment in a location with limited comparable properties. The building is part of a larger 43,000 square foot industrial condo project built in 1989, featuring units with varying sizes and loading capabilities. The property benefits from access to all city utilities and a professionally managed owners association.