South Lake Tahoe Retail
1023 Emerald Bay Road South Lake Tahoe, CA 96150
For Sale
$1,600,000
Multi-tenant retail center with long-term tenants and income growth.
Property Size4,812 SF
Price / SF$332.50
Days on Market251
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 Agency:
NAI Tahoe Sierra
(530) 525-2304
Listed By:
Scott Fair · License #CalDRE #01761504
(530) 525-2304
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Jul 29 at 6:08AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| 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 Uses
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Hill's Center — 2180 Lake Tahoe Blvd, South Lake Tahoe, CA 96150
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- 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
Frequently Asked Questions
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.
