Mixed-Use Commercial
For Sale
$675,900
3816 Pioneer Trail, South Lake Tahoe, CA 96150
COMMERCIAL - South Lake Tahoe, CA
Property Size2,480 SF
Lot Size0.23 Acres
Price / SF$272.54
Days on Market897
Property Features for 3816 Pioneer Trail
General Information
Property type
Commercial Sale
Property subtype
Other
Window features
Single Pane Window(s)
Directions
Corner of Pioneer and Shepards
Subdivision
Stateline
Standard status
Active
APN
029403029000
Size
2,480 SF
Lot size
0.23 Acres
Utilities
Heating system
Space Heater, Natural Gas
Amenities
wrap around trex decking
Building Details
Year built
1964
Flooring type
Carpet
Building materials
Wood Frame, Wood Siding
Roof type
Composition
Listing Agency:
Berkshire Hathaway Home Services Drysdale Properties - South Lake Tahoe · Berkshire Hathaway HomeServices
(530) 543-6676
Listed By:
Debra Howard
(925) 244-1933
Added: Feb 23, 2024
Changed: Aug 6
Last Checked: Aug 8 at 6:06AM
MLS# 139835
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 mixed-use commercial complex contains 2,480 square feet on a 0.23-acre corner parcel along Pioneer Trail. The current configuration accommodates five business suites, combining commercial, office, and retail functions. Improvements include fresh exterior paint, updated interior paint and flooring, wraparound Trex decking, composition roofing, wood-frame construction, and heating through space heaters and natural gas. The property was built in 1964 and includes on-site parking.
The site offers access to Pioneer Trail and is located near Heavenly Village, Stateline, Heavenly Ski Resort, Ski Run shops and restaurants, and Lake Tahoe beaches. Its placement within South Lake Tahoe provides proximity to recreational, hospitality, dining, and retail destinations while supporting an established multi-suite commercial layout.
The site offers access to Pioneer Trail and is located near Heavenly Village, Stateline, Heavenly Ski Resort, Ski Run shops and restaurants, and Lake Tahoe beaches. Its placement within South Lake Tahoe provides proximity to recreational, hospitality, dining, and retail destinations while supporting an established multi-suite commercial layout.
Key Highlights
- 2,480‑square‑foot mixed‑use commercial complex on 0.23 acres
- Five business suites within the current commercial configuration
- Corner parcel with on‑site parking and access from Pioneer Trail
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
$40,756
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
6.03%
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%
$815,120
$815.1K
Cap Rate 7%
$582,229
$582.2K
Cap Rate 9%
$452,844
$452.8K
Market Conditions
NOI Build-Up for 2,480 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
$65.5K $26.40/SF
− Vacancy
−$11.1K −$4.49/SF
EGI
$54.3K $21.91/SF
− OpEx
−$13.6K −$5.48/SF
NOI
$40.8K $16.43/SF
Area
El Dorado County, CA
Vacancy
17.00%
Lease Rate
$26.40 /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%
$815,120
Cap Rate 7%
$582,229
Cap Rate 9%
$452,844
Alternative Uses
Best Use
Office B
$582.2K
$509.5K – $679.3K
NOI $40,756 @ 7.0% cap · market cap 6.03%
Second Best
Retail
$504.1K
$441.1K – $588.1K
NOI $35,285 @ 7.0% cap · market cap 5.22%
Theoretical Best
Specialty Retail
$886.6K
$775.8K – $1.03M
NOI $62,065 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
27
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner commercial property with on-site parking, multiple business suites, and flexible office and retail configuration.
Where is this mixed-use property located?
The property is located at 3816 Pioneer Trail South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $675,900.
What are key features of this property?
This property features: 2,480‑square‑foot mixed‑use commercial complex on 0.23 acres; Five business suites within the current commercial configuration; Corner parcel with on‑site parking and access from Pioneer Trail
