Retail Building with Multiple Tenant
For Sale
$1,798,000
3542 Lake Tahoe Boulevard, South Lake Tahoe, CA 96150
COMMERCIAL - South Lake Tahoe, CA
Property Size5,591 SF
Lot Size0.43 Acres
Price / SF$321.59
Days on Market133
Property Features for 3542 Lake Tahoe Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Window features
Double Pane Windows
Directions
Down LT Blvd towards Stateline, the property will be on your right.
Subdivision
Bijou 1
Standard status
Active
APN
027101002000
Lot size
0.43 Acres
Utilities
Utilities
Cable Available
Heating system
Forced Air, Electric (Heating), Natural Gas
Building Details
Year built
1937
Flooring type
Concrete, Carpet, Tile
Building materials
Wood Frame, Masonry, Wood Siding
Roof type
Composition, Metal
Listing Agency:
Compass
(530) 645-2777
Listed By:
Mark Salmon · License #01485376
(310) 230-5478
Added: Apr 12
Changed: Aug 5
Last Checked: Aug 22 at 3:06PM
MLS# 142716
Copyright © 2026 South Tahoe Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail space includes a three-section building totaling 5,591 SF on an 18,731 SF lot with on-site parking. Building C offers 2,040 SF of open floor space with 12-foot ceilings, suitable for retail, showroom, restaurant, or experiential use. Building B is a former brewery with 900 SF of renovated bar and hospitality space, including an ADA-compliant bar counter and upgraded electrical and plumbing, with drainage systems intact beneath the floor and ventilation infrastructure above the ceiling, plus a capped fresh water well on site. Building A contains 1,057 SF of historic retail/commercial space with a 1,057 SF semi-finished basement directly below that includes independent access potential, and a 900 SF unfinished studio apartment above.
The property is positioned directly on Highway 50. Zoning is TSC-G (Tourist Core) under the City of South Lake Tahoe’s Tourist Core Area Plan, where retail, food and beverage, hotel and motel, multi-family residential, time sharing, and mixed-use development are permitted by right, with a building height maximum of 42 feet. A current board sports retail business has operated on the premises since 1984 and is transitioning out.
The building is presented as a value-add opportunity with a stabilized, multi-tenant pro forma supported by a pro forma CAP rate of 9.33%.
The property is positioned directly on Highway 50. Zoning is TSC-G (Tourist Core) under the City of South Lake Tahoe’s Tourist Core Area Plan, where retail, food and beverage, hotel and motel, multi-family residential, time sharing, and mixed-use development are permitted by right, with a building height maximum of 42 feet. A current board sports retail business has operated on the premises since 1984 and is transitioning out.
The building is presented as a value-add opportunity with a stabilized, multi-tenant pro forma supported by a pro forma CAP rate of 9.33%.
Key Highlights
- Directly on Highway 50 within South Lake Tahoe’s Tourist Core, zoned TSC‑G
- Total building size 5,591 SF across three building sections on an 18,731 SF lot
- Building C: 2,040 SF open floor space with 12‑foot ceilings for retail/showroom/restaurant
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
$139,922
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
7.78%
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%
$2,798,440
$2.8M
Cap Rate 7%
$1,998,886
$2.0M
Cap Rate 9%
$1,554,689
$1.6M
Market Conditions
NOI Build-Up for 5,591 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
$208.0K $37.20/SF
− Vacancy
−$21.4K −$3.83/SF
EGI
$186.6K $33.37/SF
− OpEx
−$46.6K −$8.34/SF
NOI
$139.9K $25.03/SF
Area
El Dorado County, CA
Vacancy
10.30%
Lease Rate
$37.20 /SF/Yr
Expense Ratio
25.00%
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%
$2,798,440
Cap Rate 7%
$1,998,886
Cap Rate 9%
$1,554,689
Alternative Uses
Best Use
Specialty Retail
$2.00M
$1.75M – $2.33M
NOI $139,922 @ 7.0% cap · market cap 7.78%
Second Best
Retail
$1.14M
$994.4K – $1.33M
NOI $79,548 @ 7.0% cap · market cap 4.42%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
229k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 48%
Dining 25%
Shops & Services 24%
Electronics 2%
Safeway
Groceries
78,796 visits/mo
0.4 miles
Whole Foods Market
Groceries
31,672 visits/mo
0.1 miles
Safeway Gas
Shops & Services
28,961 visits/mo
0.4 miles
McDonald's
Dining
27,814 visits/mo
0.4 miles
IHOP
Dining
9,802 visits/mo
0.4 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Three retail/restaurant spaces totaling 5,591 SF on a 0.43-acre lot with on-site parking and flexible buildouts.
Where is this retail space located?
The property is located at 3542 Lake Tahoe Boulevard South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $1,798,000.
What are key features of this property?
This property features: Directly on Highway 50 within South Lake Tahoe’s Tourist Core, zoned TSC‑G; Total building size 5,591 SF across three building sections on an 18,731 SF lot; Building C: 2,040 SF open floor space with 12‑foot ceilings for retail/showroom/restaurant
