2014-2062 Lake Tahoe Blvd - Restaurant FOR SALE


South Lake Tahoe, CA 96150
$16,484,000 USD
916-446-8206
2014-2062 Lake Tahoe Blvd, South Lake Tahoe, CA for Sale
$16,484,000 USD
Restaurant - FOR SALE
1/29
null | 6.5% Cap Rate

2014-2062 Lake Tahoe Blvd
South Lake Tahoe, CA 96150


HIGHLIGHTS

  • Diverse Tenant Mix: Tenant mix of restaurants, health & wellness providers, fitness, & boutique shops.
  • Assumable Debt: Assumable CMBS loan - interest only for 4 years.
  • Strong & Affluent Clientele: The AHHI within a 10-minute drive of the property is approx. $123,000.
  • Irreplaceable Location: The property is located at the "Y" of Hwy 50 & Hwy 89, the gateway to South Lake Tahoe.

OVERVIEW

CBRE, as exclusive advisor, is pleased to offer for sale The Crossing at Tahoe Valley located at 2014-2062 Lake Tahoe Blvd in South Lake Tahoe, CA. The Crossing at Tahoe Valley is a ±48,017 square foot lifestyle shopping center and was constructed in 1973 and renovated in 2017. Located at the “Y” of South Lake Tahoe, the convergence of Hwy 50 and Hwy 89, the Property benefits from the prominent location. The Property’s square footage is split between two in-line buildings situated on a ±4.90-acre parcel. With a 93% occupancy rate, the shopping center boasts an award-winning and synergistic collection of restaurants, health and wellness providers, fitness center, and boutique shops, appealing to both Lake Tahoe residents and tourists. The Crossing at Tahoe Valley is anchored by Big 5 Sporting Goods, a well-visited store according to Placer.ai. The other tenants in the center include Compass Real Estate, T-Mobile, West Coast Sourdough, Elevate Wellness Center, IV Wellness, Verde Mexican Rotisserie, Tahoe Home Consignment, Lake Tahoe AleWorx, The Cocktail Corner, Cuppa Tahoe, Sugar Pine Housing, Earthwise Pet, Boca Dental, and Vacasa. The tenants within the Property have staggered lease terms, with the longest remaining lease term belonging to Boca Dental, with 10 years remaining. The weighted average remaining lease term (WALT) for The Crossing at Tahoe Valley is 3.11 years.

FOR SALE DETAILS

PRICE

$16,484,000 USD

PRICE/SF

$358 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Crossing at Tahoe Valley

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

189

LAND DETAILS

LAND ACRES

4.9 AC

LAND SF

213,444 SF

ZONING

Commercial-South Y C-100

APN/PARCEL ID

023-231-025-000

ASK ABOUT THIS PROPERTY

Stuart WrightCBRE, Inc.More Info
916-446-8206

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Stuart WrightCBRE, Inc.More Info
916-446-8206

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