1097 E Main St - Office FOR SALE


Grass Valley, CA 95945
$1,595,000 USD
530-470-6090
1097 E Main St, Grass Valley, CA for Sale
$1,595,000 USD
Office - FOR SALE
1/52
null | 8% Cap Rate

1097 E Main St
Grass Valley, CA 95945


HIGHLIGHTS

  • 8.00% going-in cap rate on 100%-occupied, in-place income — $1,595,000 ($139/SF)
  • Directly across from Sierra Nevada Memorial Hospital (Dignity Health)
  • ~70% medical tenancy across 9 tenants / 10 suites — no single tenant exceeds ~23% of gross revenue
  • Immediate mark-to-market upside — weighted-avg. in-place rents ~8.3% below market; ~28% below hospital-adjacent comps at 150 Catherine Lane
  • ~75% of revenue on month-to-month tenancy for flexible rent resets; anchored by three termed leases, including a new 5-year lease through May 2031
  • Three free-standing buildings on 1.12 acres — 44 spaces (3.8/1,000 SF), recently slurried and re-striped

OVERVIEW

Tucker Commercial is pleased to present Main St. Professional Center, an 11,468 SF medical and professional office campus on a 1.12-acre parcel located directly across the street from Sierra Nevada Memorial Hospital (Dignity Health) — the only acute-treatment hospital serving western Nevada County. The property is 100% leased across ten suites to nine tenants and is offered at $1,595,000 ($139/SF), an 8.00% going-in cap rate on in-place income. Comprising three free-standing buildings, the campus is anchored by a ~70% medical rent roll drawn to the trade area's only acute-care facility for referral flow and physician proximity. With an average suite size of ~1,043 SF, Main St. Professional Center is ideally sized to capture demand from western Nevada County's deep market of small professional and sole-practitioner medical users — a segment with limited competing supply. The offering pairs an exceptionally strong going-in yield with clear value-add upside. Weighted-average in-place rent sits roughly 8.3% below market and ~28% below the medical rents being achieved one street over on Catherine and Margaret Lane. Approximately 75% of in-place revenue (seven of ten suites) is on month-to-month tenancy, allowing a new owner to mark rents to market immediately, reposition suites to capture premium medical rents, convert leases to NNN, or owner-occupy. The remaining ~25% of revenue is contractually termed — including a newly executed 5-year lease (through May 2031) — providing a stable cash-flow base while the rest of the rent roll is repositioned. Grass Valley is the commercial, retail and healthcare hub of western Nevada County in the Sierra foothills, ~60 miles northeast of Sacramento via Highway 49. East Main Street is the primary commercial corridor linking the historic downtown to the Hwy 49/20 interchange, and constrained foothill land with slow entitlement continues to limit new commercial supply.

FOR SALE DETAILS

PRICE

$1,595,000 USD

PRICE/SF

$136 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Main Street Professional Center

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

C2

APN/PARCEL ID

035-350-012,035-350-012-000

ASK ABOUT THIS PROPERTY

Tyson TuckerTucker CommercialMore Info
530-470-6090

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Tyson TuckerTucker CommercialMore Info
530-470-6090

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.