Office Condo with ADA
For Sale
$249,000
1061 Main Street, Grass Valley, CA 95945
Office condo unit with two large offices, reception area, break area, storage, and an ADA-compliant ensuite restroom.
Property Size1,224 SF
Price / SF$203.43
Days on Market448
Property Features for 1061 Main Street
General Information
Standard status
Active
Size
1,224 SF
Property subtype
Office
Amenities
Central Air
3
Office Professional
Public.
Building Details
Year Built
1984
Listing Agency:
5152804
Listed By:
Compass
2886226
Source:
Xome
Added: May 25, 2025
Changed: Aug 12
Last Checked: Aug 14 at 3:53AM
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 Compass
Investment Insights
Based on property information with market context.
This beautifully maintained office condo is located in the Presley Building and features two large offices plus a reception/entry room, a storage room, and a small break area. The unit also includes an ensuite ADA-compliant restroom, supporting a functional layout for client-facing and day-to-day workspace needs.
The building is situated on East Main Street across from the Nevada County Country Club, with convenient access off the Golden Chain Highway between Grass Valley and Nevada City. The offering includes ample parking and is described as a quiet work environment.
The unit is one of multiple professional offices in the building, providing a cohesive office setting within the same power grid as the hospital, which is noted to help maintain operations during outages for other locations.
The building is situated on East Main Street across from the Nevada County Country Club, with convenient access off the Golden Chain Highway between Grass Valley and Nevada City. The offering includes ample parking and is described as a quiet work environment.
The unit is one of multiple professional offices in the building, providing a cohesive office setting within the same power grid as the hospital, which is noted to help maintain operations during outages for other locations.
Key Highlights
- Office condo in the Presley Building on East Main Street, across from the Nevada County Country Club
- Interior includes 2 large offices, reception/entry room, storage room, and a small break area
- Includes an ADA‑compliant ensuite restroom
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
$14,872
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
5.97%
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%
$297,440
$297.4K
Cap Rate 7%
$212,457
$212.5K
Cap Rate 9%
$165,244
$165.2K
Market Conditions
NOI Build-Up for 1,224 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
$26.4K $21.60/SF
− Vacancy
−$6.6K −$5.40/SF
EGI
$19.8K $16.20/SF
− OpEx
−$5.0K −$4.05/SF
NOI
$14.9K $12.15/SF
Area
Nevada County, CA
Vacancy
25.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$297,440
Cap Rate 7%
$212,457
Cap Rate 9%
$165,244
Alternative Uses
Best Use
Office B
$212.5K
$185.9K – $247.9K
NOI $14,872 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$437.6K
$382.9K – $510.5K
NOI $30,632 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 95945, CA
26,302
Population
13,051
Households
2
Avg Household Size
50
Median Age
32%
College-Educated
94%
High-School Grad
61.1 sq mi
ZIP Area
430
Density / Sq Mi
$61,068
Median Household Income
$41,072
Median Earnings
$1,420
Median Rent
$496,600
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?
Office units - Office condo unit with two large offices, reception area, break area, storage, and an ADA-compliant ensuite restroom.
Where is this office units located?
The property is located at 1061 Main Street Grass Valley, CA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Office condo in the Presley Building on East Main Street, across from the Nevada County Country Club; Interior includes 2 large offices, reception/entry room, storage room, and a small break area; Includes an ADA‑compliant ensuite restroom
