Mixed-Use Property with Retail
For Sale
$1,410,000
2218 Lake Tahoe Boulevard, South Lake Tahoe, CA 96150
Combined commercial and residential layout with GC zoning along Lake Tahoe Boulevard.
Property Size4,980 SF
Lot Size0.50 Acres
Price / SF$283.13
Days on Market74
Property Features for 2218 Lake Tahoe Boulevard
General Information
Standard status
Active
Size
4,980 SF
Lot size
0.50 Acres
Property subtype
Multi Family Home
Zoning
GC
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Building Size
4,980 SF
Year Built
1955
Listing Agency:
Blue Moon Realty
(408) 359-7070
Listed By:
Moon Choe · License #01217391
(408) 359-7070
Source:
Brucebaldwin
Added: May 27
Changed: Aug 8
Last Checked: Aug 8 at 2:49AM
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 Blue Moon Realty
Investment Insights
Based on property information with market context.
This mixed-use property combines three retail or commercial spaces with two residential units, each configured as a 2-bedroom, 1-bath residence. Four RV spaces are also identified on the approximately 0.50-acre property. Available records indicate approximately 4,980 SF of improvements, with construction dating to 1955.
The property fronts Lake Tahoe Boulevard in South Lake Tahoe and includes the addresses 2218 and 2214 Lake Tahoe Boulevard along with 1008 2nd Street. It is designated GC, and the site offers a combination of storefront, residential, and RV components. Unit counts, building area, permits, zoning, RV-space legality, and allowable uses should be verified with the City or County.
The property fronts Lake Tahoe Boulevard in South Lake Tahoe and includes the addresses 2218 and 2214 Lake Tahoe Boulevard along with 1008 2nd Street. It is designated GC, and the site offers a combination of storefront, residential, and RV components. Unit counts, building area, permits, zoning, RV-space legality, and allowable uses should be verified with the City or County.
Key Highlights
- Three retail or commercial spaces plus two 2‑bedroom/1‑bath residential units
- Four RV spaces identified on the property
- Approximately 0.50 acres with approximately 4,980 SF of improvements
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
$74,071
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
5.25%
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%
$1,481,420
$1.5M
Cap Rate 7%
$1,058,157
$1.1M
Cap Rate 9%
$823,011
$823.0K
Market Conditions
NOI Build-Up for 4,980 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
$143.4K $28.80/SF
− Vacancy
−$8.7K −$1.76/SF
EGI
$134.7K $27.04/SF
− OpEx
−$60.6K −$12.17/SF
NOI
$74.1K $14.87/SF
Area
El Dorado County, CA
Vacancy
6.10%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,481,420
Cap Rate 7%
$1,058,157
Cap Rate 9%
$823,011
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$925.9K – $1.23M
NOI $74,071 @ 7.0% cap · market cap 5.25%
Second Best
Retail
$1.01M
$885.7K – $1.18M
NOI $70,855 @ 7.0% cap · market cap 5.03%
Theoretical Best
Specialty Retail
$1.78M
$1.56M – $2.08M
NOI $124,631 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road 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
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 layout with GC zoning along Lake Tahoe Boulevard.
Where is this mixed-use property located?
The property is located at 2218 Lake Tahoe Boulevard South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $1,410,000.
What are key features of this property?
This property features: Three retail or commercial spaces plus two 2‑bedroom/1‑bath residential units; Four RV spaces identified on the property; Approximately 0.50 acres with approximately 4,980 SF of improvements
