Historic Downtown Multi-Level
161 Mill St Grass Valley, CA 95945
161 Mill St, Grass Valley, CA, 95945
$1,699,000
For Sale
$1,699,000
Historic multi-level building with renovated areas and a third-floor ballroom featuring dome ceilings and exposed brick.
Property Size19,904 SF
Price / SF$85.36
Days on Market70
Property Features for 161 Mill St
General Information
- Standard status
- Active
- Size
- 19,904 SF
Listing agency
Coldwell Banker Grass Roots Realty
3082370
Listed by
Lori M. Reynolds-Hamilton
3082370
Source
Exprealty
Added: May 13 Updated: Jul 21 at 5:47AM Checked: Jul 21 at 5:47AM
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 Coldwell Banker Grass Roots Realty
Investment Insights
Based on property information with market context.
This historic, multi-level building was originally constructed in the early 1900s and includes expansive commercial space with storefronts. More than half of the building has been renovated. A standout feature is the third-floor ballroom with soaring dome ceilings, exposed brick accents, and intricate trim details, adding distinctive character throughout.
The property is prominently positioned on Mill Street in downtown Grass Valley and includes on-site parking. The surrounding area includes restaurants, shopping, entertainment, and year-round community events.
With nearly 20,000 square feet of flexible space, the building may be well-suited for a range of uses, including boutique hotel, restaurant, entertainment venue, creative offices, luxury lofts, retail destination, wedding venue, or mixed-use redevelopment, subject to approvals.
The property is prominently positioned on Mill Street in downtown Grass Valley and includes on-site parking. The surrounding area includes restaurants, shopping, entertainment, and year-round community events.
With nearly 20,000 square feet of flexible space, the building may be well-suited for a range of uses, including boutique hotel, restaurant, entertainment venue, creative offices, luxury lofts, retail destination, wedding venue, or mixed-use redevelopment, subject to approvals.
Key Highlights
- ±19,904 SF historic, multi‑level building on Mill Street in downtown Grass Valley
- Built in the early 1900s during the Grass Valley Gold Rush era
- Third‑floor ballroom with soaring dome ceilings, exposed brick accents, and intricate trim details
Local Financial Insights For Hotel Hospitality
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 | $358.3k | $18.00 |
| − Vacancy | −$43.0k | −$2.16 |
| EGI | $315.3k | $15.84 |
| − OpEx | −$165.5k | −$8.32 |
| NOI | $149.8k | $7.52 |
19,904 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 52.50%
Alternative Uses
Best Use
Retail
$6.81M
$5.96M – $7.95M
NOI $476,813 @ 7.0% cap · market cap 28.06%
Second Best
Hotel Hospitality
$2.14M
$1.87M – $2.50M
NOI $149,758 @ 7.0% cap · market cap 8.81%
Theoretical Best
Specialty Retail
$7.12M
$6.23M – $8.30M
NOI $498,123 @ 7.0% cap · market cap 29.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Evans Furniture Galleries ...
Furniture & Home Goods
Similar For Sale Nearby
FAQs
What type of property is this?
Wedding venue - Historic multi-level building with renovated areas and a third-floor ballroom featuring dome ceilings and exposed brick.
Where is this wedding venue located?
The property is located at 161 Mill St Grass Valley, CA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: ±19,904 SF historic, multi‑level building on Mill Street in downtown Grass Valley; Built in the early 1900s during the Grass Valley Gold Rush era; Third‑floor ballroom with soaring dome ceilings, exposed brick accents, and intricate trim details
