$795,000
BEDS
--
BATHS
--
SQFT
--
ACRES
0.04
MLS # 223094175 | Listed by Coldwell Banker Commercial Grass Roots Realty
MLS # 223094175 | Listed by Coldwell Banker Commercial Grass Roots Realty
110 Spring Hill Drive 2/3 is a $795,000 home on a 0.04 acre lot located in Grass Valley, CA.
Seller’s Description
110 Springhill Drive units 2 and 3 are comprised of approximately 3000 sf of 2 story office and 2550 sf of warehouse. The property is currently leased to Dignity Health who uses the facility as a mission-critical ambulatory staging/rest area. Dignity has had a long tenancy at the property and has recently extended their lease for an additional 3 years. The in-place rent of the tenant is approximate 23% below market, allowing an investor the ability to significantly increase the cash yield upon Dignity's lease termination. The in-place cap rate is approximately 4.00% and the lease features annual increases. the offering represents great opportunity for an investor to acquire a bite-sized light industrial investment occupied by an investment grade tenant (S%P BBB). Alternatively, the project represents an equally attractive opportunity for an owner-user to buy now and cashflow until Dignity's lease terminates. The property is in a well maintained industrial condo park, OA fees are currently $.26/SF/quarter. The roof was replaced approximately 2 years ago and the OA fees do include a repayment for the roof, OA fees will decrease once the roof is paid off.
Features
INTERIOR
| Basement | Slab |
| Interior Features | Carpet Concrete Other Vinyl |
| Cooling Types | Central MultiZone None |
| Heating Types | Central |
EXTERIOR
| Parking Types | Other |
| Exterior Features | County Road Freeway Exposure Cable Connected Internet Available Natural Gas Connected Separate Gas Meter |
| Construction Types | Masonry Wood Sheetrock Wood |
| Irrigation | Other |
| Sewer | Public Sewer |
PROPERTY
| Property Type | Commercial Sale |
| Style | Office Exterior-Good |
| Year Built | 1989 |
| HOA Fee | $0.00 |
| County | nevada |
Based on information from MetroList®, last updated 09/16/2024 at 04:12pm MDT. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information.. Information deemed reliable but not guaranteed by the MLS or this website. See full DMCA disclaimer See full MetroList Terms Of Use
