Two-Story Mixed-Use
434-436 Colfax Avenue, Grass Valley, CA 95945
For Sale
Contact for pricing
NC-Flex zoning allows retail, office, and residential uses in a four-suite building.
Property Size4,120 SF
Price / SF$127.43
Days on Market50
Property Features for 434-436 Colfax Avenue
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Financials
Asking Price
Cap Rate
Gross Income
Additional Details
Road Access
Multifamily Units
Building Details
Buildings
Stories
Tenancy
Listing Agency:
Tucker Commercial
Listed By:
Tyson Tucker · License #01804034
(530) 272-7222
Source:
Crexi
Added: Sep 21
Changed: Oct 26
Last Checked: Nov 8 at 8:03AM
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 Tucker Commercial
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,120-SF, two-story mixed-use property is fully leased to Nevada County Pets In Need, whose thrift store has occupied the building since 2023. The tenant extended its modified gross lease in 2026 through April 30, 2029, and is responsible for all utilities. The building was designed with four suites and separate electrical meters: two ground-floor retail spaces, now combined for the tenant, and two upper-floor units with full bathrooms that currently serve as office and storage areas.
The upper level could be converted to two two-bedroom residences, subject to buyer verification with the City of Grass Valley; kitchens would need to be installed. NC-Flex zoning permits retail, office, and residential uses. The property is on the Colfax Avenue commercial corridor within walking distance of downtown Grass Valley. Its underwritten capitalization rate on in-place income is 6.44%.
The upper level could be converted to two two-bedroom residences, subject to buyer verification with the City of Grass Valley; kitchens would need to be installed. NC-Flex zoning permits retail, office, and residential uses. The property is on the Colfax Avenue commercial corridor within walking distance of downtown Grass Valley. Its underwritten capitalization rate on in-place income is 6.44%.
Key Highlights
- Fully leased to Nevada County Pets In Need, with a 6.44% underwritten capitalization rate on in‑place income
- Lease extended in 2026 through April 30, 2029; modified gross structure with tenant responsible for 100% of utilities
- 4,120‑SF building configured as four suites, each with its own electrical meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,586
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,720
$771.7K
Cap Rate 7%
$551,229
$551.2K
Cap Rate 9%
$428,733
$428.7K
Market Conditions
NOI Build-Up for 4,120 SF
Gross rent
$66.7K $16.20/SF
− Vacancy
−$5.0K −$1.22/SF
EGI
$61.7K $14.99/SF
− OpEx
−$23.2K −$5.62/SF
NOI
$38.6K $9.37/SF
Area
Nevada County, CA
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,720
Cap Rate 7%
$551,229
Cap Rate 9%
$428,733
Alternative Uses
Best Use
Retail
$1.41M
$1.23M – $1.64M
NOI $98,697 @ 7.0% cap · market cap 18.80%
Second Best
Mixed Use
$551.2K
$482.3K – $643.1K
NOI $38,586 @ 7.0% cap · market cap 7.35%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,108 @ 7.0% cap · market cap 19.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
10k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Chevron
Shops & Services
10,387 visits/mo
0.5 miles
Demographics for 95945, CA
26,302
Population
13,051
Households
2
Avg Household Size
50
Median Age
32%
College-Educated
94%
High-School Grad
61.1 sq mi
ZIP Area
430
Density / Sq Mi
$61,068
Median Household Income
$41,072
Median Earnings
$1,420
Median Rent
$496,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - NC-Flex zoning allows retail, office, and residential uses in a four-suite building.
Where is this mixed-use property located?
The property is located at 434-436 Colfax Avenue Grass Valley, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fully leased to Nevada County Pets In Need, with a 6.44% underwritten capitalization rate on in‑place income; Lease extended in 2026 through April 30, 2029; modified gross structure with tenant responsible for 100% of utilities; 4,120‑SF building configured as four suites, each with its own electrical meter
