Fully Leased Auburn Office
For Sale
$8,200,000
Pending
470 Nevada Street, Auburn, CA 95603
Two-story, 31,246 SF Class A office building for sale.
Property Size31,246 SF
Lot Size1.32 Acres
Days on Market149
Property Features for 470 Nevada Street
General Information
Standard status
Pending
Size
31,246 SF
Lot size
1.32 Acres
Property subtype
Office
Listing Agency:
CBRE - Roseville
(916) 781-4868
Listed By:
Shana Lennon · License #01446203
(916) 781-4868
Source:
Cbre
Added: Mar 25
Changed: Aug 11
Last Checked: Jul 23 at 4:34AM
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 CBRE - Roseville
Investment Insights
Based on property information with market context.
Located in Auburn, California, 470 Nevada Street is a fully leased, two-story Class A office building. The building contains 31,246 square feet and is part of a three-building complex situated on 1.32 acres. The property is meticulously maintained and features a warranted new roof scheduled for May 2025. The building has two major tenants: Nitrogen, occupying 27,340 square feet and has been in the building for 8 years, and Ameriprise Financial, occupying 3,906 square feet and has been in the building for 10 years. Auburn, the county seat of Placer County, is located northeast of Sacramento and southwest of Lake Tahoe, in the foothills of the Sierra Nevada mountain range. The city is on the edge of the Auburn State Recreation Area and overlooks the American River Canyon.
Key Highlights
- Fully leased Class A office building providing immediate income.
- Attractive 7.2% cap rate at a price of $8,200,000 ($262 psf).
- Warranted new roof (May 2025) ensuring long‑term durability.
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
$714,194
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
8.71%
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%
$14,283,880
$14.3M
Cap Rate 7%
$10,202,771
$10.2M
Cap Rate 9%
$7,935,489
$7.9M
Market Conditions
NOI Build-Up for 31,246 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
$1.11M $35.52/SF
− Vacancy
−$157.6K −$5.04/SF
EGI
$952.3K $30.48/SF
− OpEx
−$238.1K −$7.62/SF
NOI
$714.2K $22.86/SF
Area
Placer County, CA
Vacancy
14.20%
Lease Rate
$35.52 /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%
$14,283,880
Cap Rate 7%
$10,202,771
Cap Rate 9%
$7,935,489
Alternative Uses
Best Use
Office B
$10.20M
$8.93M – $11.90M
NOI $714,194 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.10M
$10.58M – $14.11M
NOI $846,738 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
Explore this area
Business Placement
Demographics for 95603, CA
28,021
Population
12,538
Households
2.2
Avg Household Size
49
Median Age
33%
College-Educated
92%
High-School Grad
35.8 sq mi
ZIP Area
783
Density / Sq Mi
$80,851
Median Household Income
$44,207
Median Earnings
$1,451
Median Rent
$613,900
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?
Office building - Two-story, 31,246 SF Class A office building for sale.
Where is this office building located?
The property is located at 470 Nevada Street Auburn, CA.
What is the asking price?
The asking price for this property is $8,200,000.
What are key features of this property?
This property features: Fully leased Class A office building providing immediate income.; Attractive 7.2% cap rate at a price of $8,200,000 ($262 psf).; Warranted new roof (May 2025) ensuring long‑term durability.
