140 Litton DrGrass Valley, CA 95945

Property Details for 140 Litton Dr

Year built

2000

Lot size

2.35 AC

Property size (Sq ft)

20,218 SF

Zone code

C

Property type

Healthcare properties

Property subtype

Medical offices

APN

035-540-005-000

APU

35540005000

Description

This Class A, 20,860 square foot medical office building in Grass Valley, CA, is situated on 2.35 acres in a prime location on Litton Drive. Built in 2000, this two-story building boasts 95.4% occupancy across ten suites, averaging 2,086 square feet each – an ideal size for both medical and traditional office tenants. The asking price is $4,850,000 ($232.50/sq ft), offering a 6.82% cap rate. The property features a NNN lease structure with a weighted average lease term of 3.24 years, providing immediate cash flow and long-term value-add potential. Below-market rents present a significant opportunity to increase net operating income (NOI) through market rent adjustments and efficient expense management. Approximately 34% of the building is already built out for medical use, with additional space readily convertible. The building's excellent condition, including the roof, parking lot, and HVAC systems, reflects pride of ownership. The strategic location near Sierra Nevada Memorial Hospital and other amenities, coupled with a supply-constrained market and low vacancy rates (2.4%), ensures strong future demand and rent growth. The current weighted average rental rate is significantly below market comparables, offering substantial upside potential. The property's existing infrastructure, including plumbed treatment rooms in some suites, further enhances its appeal to medical tenants. This investment presents a compelling opportunity to capitalize on a thriving medical market and a high-quality asset in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $3,177,008

  6.5%

  $2,932,623

  7%

  $2,723,150

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,781,210

  Geo Method

  $2,886,726

• Alternative Use

  Use

  Valuation

  Residential

  $3,636,453

  Hospitality

  $3,330,971

  Educational

  $2,771,329

  Medical

  $2,866,639

  Retail

  $4,310,956

Location Insight

City

Grass Valley

County

Nevada

State

California

Latitude

39.2337

Longitude

-121.053

CBSA code

46020

CBSA name

TRUCKEE-GRASS VALLEY, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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