Westgate is a two-story, Class B office property with +/-9,086 SF and 18 units on a +/-74,792 SF parcel in Meyers, South Lake Tahoe. Offered at $1,500,000, the property is priced below comparable market sales because below-market rents and limited in-place NOI do not support a conventional income-based valuation.
The owners occupy the entire second floor, comprising +/-3,777 rentable SF with reception, conference room, utility room and 11 offices, plus two entrances, two restrooms and a kitchenette. At closing, the owners may vacate or consider a leaseback of all or part of the space on mutually acceptable terms.
An opportunity for owner-user occupancy or investor repositioning and pursuit of higher market rents. Competitive seller financing is available to qualified purchasers. Convenient access along US Highway 50 and State Route 89, near year-round outdoor recreation. Signed confidentiality agreement required to access the offering memorandum.