1023 Emerald Bay RdSouth Lake Tahoe, CA 96150
- Retail properties
- 4,812 SF
Property Details for 1023 Emerald Bay Rd
- Year built
- 1974
- Lot size
- 0.33 AC
- Property size (Sq ft)
- 4,812 SF
- Property type
- Retail properties
- Property subtype
- Lifestyle centers
Description
This exceptional multi-tenant retail center, totaling 4,812 square feet, presents a compelling investment opportunity in South Lake Tahoe, California. Located at the highly visible "Y" intersection, this property benefits from its proximity to a McDonald's and the burgeoning Sugar Pine Village development, adding 248 residential units. The single-story, 1974-built building underwent renovations in 2024, including a new roof completed in September. Currently housing four tenants, including a Subway franchise, the property boasts a strong NOI of $96,955, yielding a 5.39% cap rate. The modified lease structure includes four units with long-term tenants and built-in 3% annual rent increases, ensuring consistent income growth. The 0.33-acre lot is zoned GC, offering stability and high barriers to entry due to limited new development in the area. The asking price is $1,800,000, and seller financing may be available. This fee-simple ownership provides a secure and profitable investment in a thriving South Lake Tahoe location. The property's APN is 023 430 291.
Location Insight
- City
- South Lake Tahoe
- County
- El Dorado
- State
- California
- Latitude
- 38.9128
- Longitude
- -120.004
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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