Mixed-Use Property with
For Sale
$3,000,000
2225 W Lake Blvd, Tahoe City, CA 96145
Existing residences, cabins, and office space create a flexible current property configuration.
Property Size9,567 SF
Lot Size1.60 Acres
Price / SF$313.58
Days on Market101
Property Features for 2225 W Lake Blvd
General Information
Standard status
Active
Size
9,567 SF
Lot size
1.60 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 4BR/2BA, 3 x studio, 1 x 1BR/1BA
Multifamily Units
6
Additional Details
Gross Income
$125,400
Road Access
Yes
Listing Agency:
Berkshire Hathaway HomeService
(530) 308-2538
Listed By:
Darin Vicknair
(530) 308-2538
Source:
Exprealty
Added: May 14
Changed: Aug 21
Last Checked: Aug 22 at 9:36AM
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 Berkshire Hathaway HomeService
Investment Insights
Based on property information with market context.
This 1.6-acre mixed-use property includes two 4-bedroom/2-bath, two-story homes, three studio cabins, a 1-bedroom/1-bath loft cabin, and office space. The improvements currently support long-term local housing and generate rental income. Residential/mixed-use zoning may accommodate future concepts such as clustered housing, residential development, mixed-use commercial and residential space, professional offices, hospitality uses, or recreational facilities, subject to buyer investigation and approvals.
The property is located across from Kilner Park and borders West Lake Boulevard and the West Shore bike path. Sunnyside Resort, Hurricane Bay, Ward Creek, Alpine Meadows backside access, and area hiking, biking, skiing, and other outdoor recreation are identified nearby. The site’s existing building mix and land area provide a range of potential configurations for continued housing, redevelopment, or private estate use.
The property is located across from Kilner Park and borders West Lake Boulevard and the West Shore bike path. Sunnyside Resort, Hurricane Bay, Ward Creek, Alpine Meadows backside access, and area hiking, biking, skiing, and other outdoor recreation are identified nearby. The site’s existing building mix and land area provide a range of potential configurations for continued housing, redevelopment, or private estate use.
Key Highlights
- 1.6‑acre mixed‑use property on Tahoe’s West Shore
- Includes two 4‑bedroom/2‑bath, two‑story homes
- Three studio cabins plus a 1‑bedroom/1‑bath loft cabin
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
$147,383
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
4.91%
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%
$2,947,660
$2.9M
Cap Rate 7%
$2,105,471
$2.1M
Cap Rate 9%
$1,637,589
$1.6M
Market Conditions
NOI Build-Up for 9,567 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
$283.6K $29.64/SF
− Vacancy
−$15.6K −$1.63/SF
EGI
$268.0K $28.01/SF
− OpEx
−$120.6K −$12.60/SF
NOI
$147.4K $15.41/SF
Area
Placer County, CA
Vacancy
5.50%
Lease Rate
$29.64 /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%
$2,947,660
Cap Rate 7%
$2,105,471
Cap Rate 9%
$1,637,589
Alternative Uses
Best Use
Apartment 5plus
$2.11M
$1.84M – $2.46M
NOI $147,383 @ 7.0% cap · market cap 4.91%
Second Best
Mixed Use
$2.08M
$1.82M – $2.42M
NOI $145,299 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,257 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Explore this area
Business Placement
Demographics for 96145, CA
3,189
Population
4,915
Households
0.6
Avg Household Size
45
Median Age
62%
College-Educated
99%
High-School Grad
17.7 sq mi
ZIP Area
180
Density / Sq Mi
$121,875
Median Household Income
$61,953
Median Earnings
$1,768
Median Rent
$980,500
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 - Existing residences, cabins, and office space create a flexible current property configuration.
Where is this mixed-use property located?
The property is located at 2225 W Lake Blvd Tahoe City, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 1.6‑acre mixed‑use property on Tahoe’s West Shore; Includes two 4‑bedroom/2‑bath, two‑story homes; Three studio cabins plus a 1‑bedroom/1‑bath loft cabin
