Commercial Condos with Warehouse
For Sale
$465,000
143 Spring Hill Dr Units A & F, Grass Valley, CA 95945
Two contiguous commercial condo units with office and warehouse space.
Property Size2,100 SF
Price / SF$221.43
Days on Market168
Property Features for 143 Spring Hill Dr Units A & F
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Industrial
Building Details
Building Size
2,100 SF
Listing Agency:
TRI Commercial | Roseville
(916) 416-6658
Listed By:
Jason Huntoon · License #CalDRE #02109361
(916) 416-6658
Source:
Corfac
Added: Mar 5
Changed: Aug 14
Last Checked: Aug 20 at 4:49AM
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 TRI Commercial | Roseville
Investment Insights
Based on property information with market context.
Located within the Springhill Condominium Association at 143 Spring Hill Drive, Units A & F in Grass Valley, these two contiguous commercial condo units offer a combined area of approximately 2,100 square feet and are available for purchase. Unit A, an office condo, encompasses approximately 1,091 square feet and features a small conference room, two small offices, a kitchenette, and a restroom. Unit F, currently leased through December 31, 2025, includes a small warehouse with a dock-high door, a small office, and a restroom. The property benefits from industrial zoning and is situated in an Opportunity Zone. A new roof was installed in 2020. The location provides quick and easy access to Highway 49 off of Idaho Maryland Road. This property is suitable for an owner-user seeking income from an existing lease.
Key Highlights
- Ideal for Owner‑User with existing income from Unit F's lease.
- Two Contiguous Commercial Condo Units totaling ±2,100 SF (Units A & F).
- Unit F features a small warehouse with dock‑high door.
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
$19,373
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
4.17%
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%
$387,460
$387.5K
Cap Rate 7%
$276,757
$276.8K
Cap Rate 9%
$215,256
$215.3K
Market Conditions
NOI Build-Up for 2,100 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
$29.0K $13.80/SF
− Vacancy
−$1.3K −$0.62/SF
EGI
$27.7K $13.18/SF
− OpEx
−$8.3K −$3.95/SF
NOI
$19.4K $9.23/SF
Area
Nevada County, CA
Vacancy
4.50%
Lease Rate
$13.80 /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%
$387,460
Cap Rate 7%
$276,757
Cap Rate 9%
$215,256
Alternative Uses
Best Use
Flex RnD
$650.7K
$569.4K – $759.1K
NOI $45,548 @ 7.0% cap · market cap 9.80%
Second Best
Industrial
$276.8K
$242.2K – $322.9K
NOI $19,373 @ 7.0% cap · market cap 4.17%
Theoretical Best
Specialty Retail
$750.8K
$656.9K – $875.9K
NOI $52,555 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two contiguous commercial condo units with office and warehouse space.
Where is this flex space located?
The property is located at 143 Spring Hill Dr Units A & F Grass Valley, CA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Ideal for Owner‑User with existing income from Unit F's lease.; Two Contiguous Commercial Condo Units totaling ±2,100 SF (Units A & F).; Unit F features a small warehouse with dock‑high door.
