Mixed-Use Asset in Historic
For Sale
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100 Union St, Nevada City, CA 95959
10,223 SF mixed-use property in Nevada City, California.
Property Size10,223 SF
Price / SF$303.24
Days on Market141
Property Features for 100 Union St
General Information
Standard status
Active
Size
10,223 SF
Class
A
Property subtype
Retail, Multifamily, Office, Mixed Use
Occupancy
100%
Net Operating Income
$171,430
Building Details
Year Built
2008
Units
9
Listing Agency:
Tucker Commercial
(530) 272-7222
Listed By:
Tyson Tucker · License #01804034
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 11 at 1:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tucker Commercial
Investment Insights
Based on property information with market context.
Located in the heart of historic downtown Nevada City, California, this mixed-use asset at 100 Union Street offers 10,223 square feet of space. Constructed in 2008, the building blends into the Victorian streetscape. The property is 100% occupied and generates net operating income. The ground floor is anchored by two restaurants, Nourish and Taqueria Taco Loco, both with outdoor dining. The rent roll includes nine tenants across three income streams: three ground-floor retail suites, four professional office suites ranging from 779 to 1,873 square feet, and two one-bedroom residential apartments. The property features contractual rent growth, with portfolio-wide NOI projected to grow from Year 0 to Year 3 through escalations and near-term rollover repricing to market. The building includes storefront depths, modern mechanical systems, a passenger elevator, and secured subgrade parking for seven vehicles.
Key Highlights
- Irreplaceable asset in the heart of historic downtown Nevada City.
- 100% occupied mixed‑use property generating strong in‑place net operating income of $172,134.
- Significant near‑term NOI growth potential (21.8% projected from Year 0 to Year 3).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$244,898
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,897,960
$4.9M
Cap Rate 7%
$3,498,543
$3.5M
Cap Rate 9%
$2,721,089
$2.7M
Market Conditions
NOI Build-Up for 10,223 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$365.6K $35.76/SF
− Vacancy
−$15.7K −$1.54/SF
EGI
$349.9K $34.22/SF
− OpEx
−$105.0K −$10.27/SF
NOI
$244.9K $23.96/SF
Area
Nevada County, CA
Vacancy
4.30%
Lease Rate
$35.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,897,960
Cap Rate 7%
$3,498,543
Cap Rate 9%
$2,721,089
Alternative Uses
Best Use
Retail
$3.50M
$3.06M – $4.08M
NOI $244,898 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,606 @ 7.0% cap · market cap 4.34%
Theoretical Best
Specialty Retail
$3.65M
$3.20M – $4.26M
NOI $255,844 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
997
Businesses Nearby
Explore this area
Business Placement
Demographics for 95959, CA
18,621
Population
8,840
Households
2.1
Avg Household Size
53
Median Age
45%
College-Educated
96%
High-School Grad
311.9 sq mi
ZIP Area
60
Density / Sq Mi
$79,509
Median Household Income
$36,160
Median Earnings
$1,715
Median Rent
$603,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 10,223 SF mixed-use property in Nevada City, California.
Where is this mixed-use property located?
The property is located at 100 Union St Nevada City, CA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Irreplaceable asset in the heart of historic downtown Nevada City.; 100% occupied mixed‑use property generating strong in‑place net operating income of $172,134.; Significant near‑term NOI growth potential (21.8% projected from Year 0 to Year 3).
