233 Broad StNevada City, CA 95959
- Retail properties
- 8,436 SF
Property Details for 233 Broad St
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.12 AC
- Property size (Sq ft)
- 8,436 SF
- Zone code
- C
- Property type
- Retail properties
- Property subtype
- Turn key restaurants
- APN
- 005-399-009-000
- APU
- 5399009000
Description
This iconic, three-story, 11,200 sq ft building in Nevada City, CA, presents a unique investment opportunity. Completely renovated in 2023, it boasts a thriving ground-floor restaurant/espresso bar with a 7-year lease, and a nine-room boutique hotel on the second floor. The hotel features high-end finishes, exposed brick, and high ceilings, offering a luxurious lodging experience. The third floor, encompassing approximately 2,500 sq ft, is ready for build-out, offering flexibility for future expansion. The property benefits from a 100% occupancy rate, a pro-forma NOI of $371,654, and a pro-forma cap rate of 10.77%. Built in 1856 and meticulously renovated, this Class A property maintains its historic charm while offering modern amenities, including new plumbing, HVAC, electrical, and fire suppression systems. The building is located at 233 Broad St, Nevada City, CA 95959, and is zoned GB-HD NevCty. The asking price is $3,450,000 ($308.04/sq ft). The current restaurant tenant has a 7-year lease with two lease options. This exceptional property offers strong cash flow and significant upside potential.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,948,651
- 6.5%
- $1,798,755
- 7%
- $1,670,272
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,924,373
- Geo Method
- $3,035,320
-
Alternative Use
- Use
- Valuation
- Residential
- $1,517,317
- Hospitality
- $1,389,854
- Educational
- $1,156,342
- Medical
- $1,196,111
- Retail
- $1,798,755
Location Insight
- City
- Nevada City
- County
- Nevada
- State
- California
- Latitude
- 39.2624
- Longitude
- -121.019
- CBSA code
- 46020
- CBSA name
- TRUCKEE-GRASS VALLEY, CA MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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