117 New Mohawk Rd - Office FOR SALE


Nevada City, CA 95959
$775,000 USD
530-272-7222
117 New Mohawk Rd, Nevada City, CA for Sale
$775,000 USD
Office - FOR SALE
1/27
null | Request Cap Rate

117 New Mohawk Rd
Nevada City, CA 95959


HIGHLIGHTS

  • $76/SF – 70% below replacement cost
  • New long-term lease in place (50% occupancy)
  • Owner-user or value-add investment potential
  • 13.14%+ pro forma cap rate at 95% occupancy
  • Zoned LI-PD – flexible for office, industrial, cannabis, and more
  • Includes adjacent .76-acre developable parcel

OVERVIEW

Coldwell Banker Commercial Grass Roots is pleased to present 117 New Mohawk, a 10,098-square-foot, elevator-served, multi-tenant office building with secured, below-grade parking—offered at $750,000, or just $76.74 per square foot, making it the lowest-priced office building on a $/SF basis currently available in Nevada County. Strategically located within five minutes of Downtown Nevada City, Grass Valley, and the Brunswick Basin, the property is situated within an established business park and benefits from LI-PD zoning, permitting a wide range of office, light industrial, and R&D uses. Built in 1986 and fully sprinklered, the building sits on a .95-acre parcel with approximately 15 secured garage parking stalls and additional surface parking. The building is currently 50% leased, with the entire second floor (5,048 SF) occupied by Sierra Streams Institute on a five-year lease executed in February 2025, generating $6,344.31/month in gross rent with annual escalations. The ground floor (5,048 SF) includes four separately metered suites, currently configured as three rentable units, each with dedicated HVAC systems, ranging from approximately 1,000 to 2,200 SF. The vacant units are ideally sized for lease-up or owner occupancy and cater to the most active segment of local tenant demand. The second floor, currently demised into two suites, can also be reconfigured into up to four units. The offering includes the adjacent .76-acre parcel at 113 New Mohawk, which is zoned LI-PD and provides additional optionality for future development, expanded parking, or secured storage (subject to City approval). In addition to its investment potential, 117 New Mohawk presents a compelling owner-user opportunity. The ground floor is fully vacant and can accommodate up to 5,000 SF of contiguous occupancy or be subdivided to suit operational needs. An owner-user could benefit from stable in-place cash flow on the second floor while establishing a long-term footprint in one of Nevada County’s most accessible and professionally oriented commercial nodes. At $76.74/SF, 117 New Mohawk offers a rare opportunity to acquire a well-located, flexible asset with immediate upside through lease-up, repositioning, or partial occupancy - all at a pricing basis that is meaningfully below current market. At proforma rents of $1.25/SF gross and a stabilized occupancy of 95%, the property delivers a 13.14% return on cost. This offering represents a rare opportunity to acquire a well-located, flexible, multi-tenant office asset with clear upside through lease-up, repositioning, or partial owner occupancy - all at a basis materially below market

FOR SALE DETAILS

PRICE

$775,000 USD

PRICE/SF

$77 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

undefined, Distribution, Manufacturing

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

33

LAND DETAILS

LAND ACRES

1.71 AC

LAND SF

74,488 SF

ZONING

LI-PD

APN/PARCEL ID

037-060-067-000,037-060-069-000

ASK ABOUT THIS PROPERTY

Tyson TuckerColdwell Banker Commercial Grass RootsMore Info
530-272-7222

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Tyson TuckerColdwell Banker Commercial Grass RootsMore Info
530-272-7222

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