Medical and Professional Office
For Sale
Contact for pricing
1097 E MAIN ST, Grass Valley, CA 95945
Three-building campus leased to multiple tenants directly across from Sierra Nevada Memorial Hospital.
Property Size11,498 SF
Lot Size1.12 Acres
Price / SF$138.72
Days on Market61
Property Features for 1097 E MAIN ST
General Information
Standard status
Active
Size
11,498 SF
Lot size
1.12 Acres
Property subtype
Office
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
8%
Office Units
10
Building Details
Year Built
1978
Tenancy
Multi
Listing Agency:
Tucker Commercial
(530) 272-7222
Listed By:
Tyson Tucker · License #01804034
Source:
Crexi
Added: Jun 9
Changed: Jul 10
Last Checked: Aug 7 at 9:27AM
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.
Main St. Professional Center is an 11,468 SF medical and professional office campus on a 1.12-acre parcel. The campus consists of three free-standing buildings and includes 10 suites leased across nine tenants, supporting a mix of medical and professional uses. Suite sizes average about 1,043 SF, providing flexible footprints for small professional and sole-practitioner needs.
The property is located directly across the street from Sierra Nevada Memorial Hospital (Dignity Health), the only acute-treatment hospital serving western Nevada County. Set on East Main Street, the campus sits within the area’s primary healthcare and commercial corridor connecting historic downtown to the Hwy 49/20 interchange.
For buyers and operators, the current leased configuration offers multiple suite opportunities within a medically oriented campus setting. Approximately 75% of revenue is on month-to-month tenancy, providing room to adjust leasing terms and reposition suites based on tenant demand. The remaining portion of revenue is contractually termed, including a newly executed 5-year lease through May 2031, which helps provide additional stability while the rest of the income stream is positioned for change.
The property is located directly across the street from Sierra Nevada Memorial Hospital (Dignity Health), the only acute-treatment hospital serving western Nevada County. Set on East Main Street, the campus sits within the area’s primary healthcare and commercial corridor connecting historic downtown to the Hwy 49/20 interchange.
For buyers and operators, the current leased configuration offers multiple suite opportunities within a medically oriented campus setting. Approximately 75% of revenue is on month-to-month tenancy, providing room to adjust leasing terms and reposition suites based on tenant demand. The remaining portion of revenue is contractually termed, including a newly executed 5-year lease through May 2031, which helps provide additional stability while the rest of the income stream is positioned for change.
Key Highlights
- 11,468 SF medical and professional office campus on a 1.12‑acre parcel built in 1978
- 100% leased across 10 suites to nine tenants with a total offering price of $1,595,000 ($139/SF)
- Tenancy mix includes seven month‑to‑month suites, giving flexibility to mark rents to market
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
$139,701
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
8.76%
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%
$2,794,020
$2.8M
Cap Rate 7%
$1,995,729
$2.0M
Cap Rate 9%
$1,552,233
$1.6M
Market Conditions
NOI Build-Up for 11,498 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
$248.4K $21.60/SF
− Vacancy
−$62.1K −$5.40/SF
EGI
$186.3K $16.20/SF
− OpEx
−$46.6K −$4.05/SF
NOI
$139.7K $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%
$2,794,020
Cap Rate 7%
$1,995,729
Cap Rate 9%
$1,552,233
Alternative Uses
Best Use
Healthcare Medical
$3.29M
$2.88M – $3.84M
NOI $230,202 @ 7.0% cap · market cap 14.43%
Second Best
Office B
$2.00M
$1.75M – $2.33M
NOI $139,701 @ 7.0% cap · market cap 8.76%
Theoretical Best
Specialty Retail
$4.11M
$3.60M – $4.80M
NOI $287,752 @ 7.0% cap · market cap 18.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
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 building - Three-building campus leased to multiple tenants directly across from Sierra Nevada Memorial Hospital.
Where is this office building located?
The property is located at 1097 E MAIN ST Grass Valley, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 11,468 SF medical and professional office campus on a 1.12‑acre parcel built in 1978; 100% leased across 10 suites to nine tenants with a total offering price of $1,595,000 ($139/SF); Tenancy mix includes seven month‑to‑month suites, giving flexibility to mark rents to market
