Highway Frontage Mixed-Use
For Sale
$2,490,000
2197 Lake Tahoe Boulevard, South Lake Tahoe, CA 96150
Combined commercial and residential improvements include apartments, a studio, and space suited for restaurant or coffee shop conversion.
Property Size4,160 SF
Price / SF$598.56
Days on Market605
Property Features for 2197 Lake Tahoe Boulevard
General Information
Standard status
Active
Size
4,160 SF
Property subtype
Commercial/Industrial
Additional Details
Highway Access
Yes
Multifamily Units
8
Building Details
Year Built
1942
Listing Agency:
RE/MAX Gold - SLT
(530) 545-0811
Listed By:
Lloyd Aronoff · License #00498929
(530) 545-0811
Source:
Exitrealty
Added: Dec 6, 2024
Changed: Jul 31
Last Checked: Aug 3 at 5:46AM
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 RE/MAX Gold - SLT
Investment Insights
Based on property information with market context.
This mixed-use property contains 4,160 square feet of commercial and residential improvements on Highway 50 frontage. The rear includes a duplex with one two-bedroom unit and one one-bedroom unit. Along the highway, the front building includes commercial space, with half identified for potential conversion to a restaurant or coffee shop. The upper level contains one two-bedroom apartment and one one-bedroom apartment, while the rear downstairs area includes a studio.
The property was built in 1942, and all units are being remodeled with completion planned before close of escrow. The address is 2197 Lake Tahoe Boulevard in South Lake Tahoe, California.
The property was built in 1942, and all units are being remodeled with completion planned before close of escrow. The address is 2197 Lake Tahoe Boulevard in South Lake Tahoe, California.
Key Highlights
- 4,160‑square‑foot mixed‑use property with Highway 50 frontage
- Rear duplex includes one 2‑bedroom unit and one 1‑bedroom unit
- Highway‑facing commercial space, with half identified for restaurant or coffee shop conversion
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 | $154.8k | $37.20 |
| − Vacancy | −$15.9k | −$3.83 |
| EGI | $138.8k | $33.37 |
| − OpEx | −$34.7k | −$8.34 |
| NOI | $104.1k | $25.03 |
4,160 SF · lease $37.20/SF/yr · vacancy 10.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,109 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$883.9K
$773.4K – $1.03M
NOI $61,875 @ 7.0% cap · market cap 2.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Explore this area
Business Placement
Demographics for 96150, CA
29,518
Population
23,472
Households
1.3
Avg Household Size
40
Median Age
39%
College-Educated
92%
High-School Grad
163.2 sq mi
ZIP Area
181
Density / Sq Mi
$83,738
Median Household Income
$45,582
Median Earnings
$1,497
Median Rent
$649,100
Median Home Value
Market
Properties on Market for Mixed-use properties in El Dorado County
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined commercial and residential improvements include apartments, a studio, and space suited for restaurant or coffee shop conversion.
Where is this mixed-use property located?
The property is located at 2197 Lake Tahoe Boulevard South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $2,490,000.
What are key features of this property?
This property features: 4,160‑square‑foot mixed‑use property with Highway 50 frontage; Rear duplex includes one 2‑bedroom unit and one 1‑bedroom unit; Highway‑facing commercial space, with half identified for restaurant or coffee shop conversion
