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    Renovated Retail Center Near Lake Tahoe Title is generated by Realmo AI

    3668 Lake Tahoe Blvd, South Lake Tahoe, CA 96150

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    For Lease
    $2 SF/Yr $4,089/Mo (calc)

    Centrally located retail center near Heavenly Ski Resort and Ski Run Marina.

    Type:Retail
    Property size:
    19,631 SF
    Added:
    Jan 27, 2026
    Days on Market:
    109
    Last Refresh:
    Apr 5 at 11:07 pm

    Property Features for 3668 Lake Tahoe Blvd

    General Information

    Standard status
    Active
    Size
    19,631 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2008

    Spaces For Lease

    at 3668 Lake Tahoe Blvd Contact us

    We can help!

    Listing Contact
    Scott Fair
    Scott Fair

    Listing agent Scott Fair License #CalDRE #01761504

    Listing office NAI Tahoe Sierra

    Listing date Jan 27, 2026

    Source Naiglobal

    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 NAI Tahoe Sierra

    HighLights

    • Prime location connecting Heavenly Ski Resort to Ski Run Marina and Lake Tahoe Blvd, ensuring high visibility and traffic.
    • Across the street from the newly constructed Whole Foods Shopping Center and Ski Run Marina, attracting consistent customer flow.
    • Newly renovated property, offering a modern and appealing environment for businesses.
    • Located within one mile of Nevada Stateline casinos and a few blocks from Heavenly Village, providing access to diverse entertainment and tourist attractions.
    • Situated in South Lake Tahoe, a growing and vibrant community known as the outdoor capital of the world.
    • Suitable for retail businesses, boutique shops, or specialty stores.

    Overview

    Ski Run Center is a centrally located retail center in South Lake Tahoe, California, situated on the corner of Ski Run Boulevard, connecting Heavenly Ski Resort to Ski Run Marina, and Lake Tahoe Boulevard, the area's main thoroughfare. The property is across the street from the newly constructed Whole Foods Shopping Center and Ski Run Marina. The location benefits from pedestrian and auto traffic, attracting both local and tourist customers. South Lake Tahoe is known for outdoor activities and is undergoing a revival with updated lodging, a growing brewery scene, and new restaurants. The property has been newly renovated and is near beaches, Ski Run Marina, restaurants, shopping, and outdoor activities. The center is located within one mile of the Nevada Stateline casinos and a few blocks from Heavenly Village, offering views and a rustic setting. The 19,631 square foot property is suitable for retail businesses, boutique shops, or specialty stores, with an intended use for retail.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Powder House Ski ... (Bike/Boat/Book/etc) Store Bitcoin Depot - Bitcoin ... Atm Ski Run Laundry (Bike/Boat/Book/etc) Store Desolation Athletic Fitness Gym & Fitness Center Shedcat Distillery & Kitchen Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Village Center - South Lake Tahoe — 4000 Lake Tahoe Blvd, South Lake Tahoe, CA 96150
    • Sunglass Hut — 1001 Heavenly Village Way Ste 2A, South Lake Tahoe, CA 96150
    • Coinstar Kiosk | Bitcoin ATM — Raley's, 4000 Lake Tahoe Blvd, South Lake Tahoe, CA 96150
    • Coinstar Kiosk | Bitcoin ATM — 1020 Johnson Lane Safeway, South Lake Tahoe, CA 96150
    • Bijou Center — Bijou Shopping Center, 3443 Lake Tahoe Blvd, South Lake Tahoe, CA 96150

    Location Insight

    • Map
    • Local Demand
    City
    South Lake Tahoe
    County
    El Dorado
    State
    California
    Longitude
    -119.957
    Latitude
    38.9484

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    FAQs

    What type of property is this?
    Shopping center - Centrally located retail center near Heavenly Ski Resort and Ski Run Marina.
    Where is this shopping center located?
    The property is located at 3668 Lake Tahoe Blvd South Lake Tahoe, CA.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: Prime location connecting Heavenly Ski Resort to Ski Run Marina and Lake Tahoe Blvd, ensuring high visibility and traffic.; Across the street from the newly constructed Whole Foods Shopping Center and Ski Run Marina, attracting consistent customer flow.; Newly renovated property, offering a modern and appealing environment for businesses.
    (530) 525-2304
    We can help!
    Listing Contact
    Scott Fair
    Scott Fair
    Real Estate License ID: CalDRE #01761504
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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