1050 Fremont Avenue — Entitled Redevelopment Opportunity in South Lake Tahoe's Bijou District A rare double-lot redevelopment offering in the heart of South Lake Tahoe, moments from Lake Tahoe Boulevard (US-50), Stateline casinos, and Heavenly. This ±0.68-acre assemblage of two parcels (APNs 027-170-012 and 027-381-001) is offered with a ±7,980 SF single-story CMU (concrete-block) warehouse-style commercial structure in place — giving a buyer two clear paths forward. Take the building as-is. The property sits within the City of South Lake Tahoe's Bijou/Al Tahoe Community Plan, Bijou District, zoned General Commercial. Under the Community Plan's permissible-use matrix, a wide range of commercial uses are allowed subject to design review, including general merchandise and retail sales, professional and business offices, personal and business services, eating and drinking establishments, furniture and home-furnishings sales, food and beverage retail, broadcasting studios, and cultural facilities — among others. The existing open, warehouse-style floor plate offers flexibility for an owner-user or investor seeking to step into an established commercial corridor. Or step into a shovel-ready residential vision. For a buyer drawn to redevelopment, the seller has advanced a conceptualized multi-unit luxury townhome project — 11 three-story townhomes designed in wood-and-steel framing — with an additional dwelling opportunity on the second parcel. The project is being carried through a two-step subdivision with planned demolition and asbestos remediation targeted for September (ahead of the October 15 dig deadline), followed by City Planning, Planning Commission, City Council, and TRPA reviews. The goal: a fully permitted project ready to break ground May 1, with all entitlements converted (commercial floor area to residential units of use), sewer units secured, and planning and mitigation fees paid. A short-term-rental advantage that's hard to replicate. This is where 1050 Fremont truly stands apart. Because the site carries mixed-use commercial zoning, the residential units are not constrained by the City's residential short-term-rental permit cap — meaning there is no ceiling on the number of units eligible to operate as short-term rentals. In a market where residential STR permits are strictly limited and highly coveted, a fully STR-eligible luxury townhome community represents a durable, income-generating asset with rare rental optionality. This structural advantage mirrors the uncapped units delivered within South Lake Tahoe's tourist-core projects and is exceptionally difficult to reproduce elsewhere in the basin. Flexible exit and capital strategy. The project is designed to give a developer or investor multiple ways to realize value. Build and hold the entire community as a stabilized short-term-rental portfolio, or sell off individual units to replenish capital and de-risk the project as it progresses — a flexibility that few Tahoe redevelopment sites can offer. Infrastructure & utilities. An existing on-site well services common-area maintenance and landscaping; the project is otherwise fully served by the grid, with domestic water and fire suppression via South Tahoe Public Utility District. STPUD confirms 70 psi static pressure at the point of connection with strong fire-flow availability. Location. The Bijou District is one of South Lake Tahoe's most walkable, amenity-rich corridors — a short distance from the lake, El Dorado Beach, Bijou Community Park, the Tahoe Ice Arena, and the year-round recreation that defines the South Shore. Flat, level topography and General Commercial zoning make this a versatile canvas in a supply-constrained alpine market. Whether continued as a commercial holding or advanced as an entitled, STR-eligible luxury residential development, 1050 Fremont Avenue offers uncommon optionality in a premier Tahoe location. Buyer to verify all uses, entitlements, unit counts, short-term-rental eligibility, and development potential with the City of South Lake Tahoe and TRPA. Information deemed reliable but not guaranteed.