South Lake Tahoe Retail
1023 Emerald Bay Road, South Lake Tahoe, CA 96150
Multi-tenant retail center with long-term tenants and income growth.
Type:PRICE REDUCED: Multi-Tenant Retail
Property size:
4,812 SFPrice / SF:
$332/SF- Added:
- Nov 21, 2025
- Days on Market:
- 183
- Last Refresh:
- Apr 5 at 10:32 pm
Property Features for 1023 Emerald Bay Road
General Information
- Standard status
- Active
- Size
- 4,812 SF
- Property subtype
- PRICE REDUCED: Multi-Tenant Retail
Building Details
- Year Built
- 1974
Listing agent Scott Fair License #CalDRE #01761504 (530) 525-2304
Listing office NAI Tahoe Sierra (530) 525-2304
Listing date Nov 21, 2025
Source Naiglobal
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 NAI Tahoe Sierra
HighLights
- Prime location at the high‑traffic 'Y' intersection in South Lake Tahoe, adjacent to McDonald's and anchored by Subway.
- Fully leased with long‑term tenants, providing stable and consistent income.
- Located across from the rapidly expanding Sugar Pine Village (248 residential units), promising increased foot traffic and business.
- Tenants have 3% annual rent increases, ensuring consistent revenue growth.
- High barriers to entry and limited new development in the area, offering long‑term investment security.
- Brand new roof completed in September 2024.
Overview
This 4,812 square-foot multi-tenant retail center is located at the "Y" intersection in South Lake Tahoe. Constructed in 1974, the four-unit building offers high visibility and is anchored by established tenants, including Subway, with a McDonald’s adjacent to the property. The property is positioned across from the expanding Sugar Pine Village, a development featuring 248 residential units. The center is fully leased with long-term tenants in place, each benefiting from 3% annual rent increases. A brand-new roof was completed in September of 2024. This property offers investors income generation and long-term protection for their investment. South Lake Tahoe is experiencing a revival, with old motels transforming into trendy lodgings, a growing craft brewery scene, new restaurants on the rise, and hundreds of luxury condos set to hit the market. The location at South Lake Tahoe’s busy "Y" intersection is ideal, and the limited new development in the area ensures long-term investment security. Seller financing may be available.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$1.34M
NOI $120,427 @ 9.00% cap · cautious / downside scenario
Moderate
$1.72M
NOI $120,427 @ 7.00% cap · market / base-case scenario
Aggressive
$2.41M
NOI $120,427 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $179.0k | $37.20 |
| − Vacancy | −$18.4k | −$3.83 |
| EGI | $160.6k | $33.37 |
| − OpEx | −$40.1k | −$8.34 |
| NOI | $120.4k | $25.03 |
4,812 SF · lease $37.20/SF/yr · vacancy 10.30% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$1.72M
$1.51M – $2.01M
NOI $120,427 @ 7.0% cap · market cap 7.53%
Second Best
Retail
$978.1K
$855.8K – $1.14M
NOI $68,465 @ 7.0% cap · market cap 4.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Lady Luck Skate ...
(Bike/Boat/Book/etc) Store
Similar Places Nearby
- South Four Center Shopping Center — South Lake Tahoe, CA 96150
- The Crossing at Tahoe Valley — 2012 SOUTH Lake Tahoe Blvd, South Lake Tahoe, CA 96150
- Coinstar Kiosk | Bitcoin ATM — Raley's, 1040 Emerald Bay Rd, South Lake Tahoe, CA 96150
- Alpine Center — 1950 Lake Tahoe Blvd, South Lake Tahoe, CA 96150
Location Insight
- Map
- Local Demand
- City
- South Lake Tahoe
- County
- El Dorado
- State
- California
- Longitude
- -120.003
- Latitude
- 38.9118
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Multi-tenant retail center with long-term tenants and income growth.
Where is this shopping center located?
The property is located at 1023 Emerald Bay Road South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Prime location at the high‑traffic 'Y' intersection in South Lake Tahoe, adjacent to McDonald's and anchored by Subway.; Fully leased with long‑term tenants, providing stable and consistent income.; Located across from the rapidly expanding Sugar Pine Village (248 residential units), promising increased foot traffic and business.
