3330 Lake Tahoe BlvdSouth Lake Tahoe, CA 96150
- Retail properties
- 14,600 SF
Property Details for 3330 Lake Tahoe Blvd
- Year built
- 1962
- Construction
- TILT-UP CONCRETE
- Lot size
- 1.27 AC
- Property size (Sq ft)
- 14,600 SF
- Zone code
- GC
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 027-361-004-000
- APU
- 27361004000
Description
Lakeview Plaza, a 14,600 square foot retail strip center in South Lake Tahoe, California, is offered at $4,250,000. This fee-simple property, located at 3330 Lake Tahoe Blvd (APN 027-361-004-000), sits on a 1.27-acre lot across from Lake Tahoe. The Class C center features twelve occupied retail units, providing immediate cash flow. All leases are modified and below market rate, presenting significant upside potential upon renewal or re-leasing. The current zoning (GC) allows for up to 40 hotel units and 15 multi-family units per acre, with a potential increase to 65 multi-family units per acre anticipated by Fall 2025. The property's size could also support approximately 48 Residential Units of Use (RUU) or Tourist Accommodation Units (TAU), or up to 72 Multifamily Units of Use (MFERUU). This prime location offers high visibility and accessibility in a high-traffic area with stunning lake views. The diverse tenant mix ensures a strong customer base. The property's location in El Dorado County, CA, zip code 96150, makes it an attractive investment opportunity. Each lease includes a termination on sale clause, allowing for immediate repositioning upon acquisition. Built in 1962, this property presents a compelling redevelopment opportunity with substantial upside.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $4,282,913
- 6.5%
- $3,953,458
- 7%
- $3,671,068
-
Comparable approach
- Method
- Valuation
- Relative Method
- $8,425,000
- Geo Method
- $8,425,000
-
Alternative Use
- Use
- Valuation
- Residential
- $3,334,890
- Hospitality
- $3,054,741
- Educational
- $2,541,509
- Medical
- $2,628,915
- Retail
- $3,953,458
Location Insight
- City
- South Lake Tahoe
- County
- El Dorado
- State
- California
- Latitude
- 38.9454
- Longitude
- -119.971
- CBSA code
- 40900
- CBSA name
- SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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