Block Garage with
For Sale
$295,000
708 W Broad Street, Nevada City, CA 95959
Well-built block garage/shop with office and tall roll-up door on a 0.23-acre R-2 zoned lot.
Property Size800 SF
Lot Size0.23 Acres
Price / SF$368.75
Days on Market286
Property Features for 708 W Broad Street
General Information
Standard status
Active
Size
800 SF
Lot size
0.23 Acres
Property subtype
Lots/Land
Zoning
R-2
Listing Agency:
Keller Williams Realty
(916) 765-9621
Listed By:
Rick Dumont · License #00809220
(916) 765-9621
Source:
Exitrealty
Added: Nov 11, 2025
Changed: Aug 23
Last Checked: Aug 24 at 3:11AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This well-built block garage/shop includes an approximately 800+/- square foot garage/work area with an attached office portion. The office area features wood siding, and the property also has a tall roll-up door. Recent updates include newer paint, siding, and a comparatively newer composition roof.
The site is zoned R-2 and has historically been used for commercial enterprises, including a prior use as a martial arts training dojo (“The DOJO”). The current occupant is a towing business, and PG&E indicates the electric account is commercial. A flat open area beyond a boulder is described as Caltrans property.
Seller notes indicate PG&E shows that an electrical line needs to be moved and the electrical panel needs to be upgraded.
The site is zoned R-2 and has historically been used for commercial enterprises, including a prior use as a martial arts training dojo (“The DOJO”). The current occupant is a towing business, and PG&E indicates the electric account is commercial. A flat open area beyond a boulder is described as Caltrans property.
Seller notes indicate PG&E shows that an electrical line needs to be moved and the electrical panel needs to be upgraded.
Key Highlights
- Well‑built block garage/shop with office and tall roll‑up door on a 0.23‑acre lot zoned R‑2
- Approximately 800+/- SF garage/shop with office; wood siding on the office portion
- Newer paint, siding, and composition (comp) roof
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
$19,164
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
6.50%
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%
$383,280
$383.3K
Cap Rate 7%
$273,771
$273.8K
Cap Rate 9%
$212,933
$212.9K
Market Conditions
NOI Build-Up for 800 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
$28.6K $35.76/SF
− Vacancy
−$1.2K −$1.54/SF
EGI
$27.4K $34.22/SF
− OpEx
−$8.2K −$10.27/SF
NOI
$19.2K $23.96/SF
Area
Nevada County, CA
Vacancy
4.30%
Lease Rate
$35.76 /SF/Yr
Expense Ratio
30.00%
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%
$383,280
Cap Rate 7%
$273,771
Cap Rate 9%
$212,933
Alternative Uses
Best Use
Retail
$273.8K
$239.6K – $319.4K
NOI $19,164 @ 7.0% cap · market cap 6.50%
Second Best
Industrial
$105.4K
$92.3K – $123.0K
NOI $7,380 @ 7.0% cap · market cap 2.50%
Theoretical Best
Specialty Retail
$286.0K
$250.3K – $333.7K
NOI $20,021 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 95959, CA
18,621
Population
8,840
Households
2.1
Avg Household Size
53
Median Age
45%
College-Educated
96%
High-School Grad
311.9 sq mi
ZIP Area
60
Density / Sq Mi
$79,509
Median Household Income
$36,160
Median Earnings
$1,715
Median Rent
$603,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Nevada City Auto Survice — Nevada City, CA 95959
Frequently Asked Questions
What type of property is this?
Auto shop - Well-built block garage/shop with office and tall roll-up door on a 0.23-acre R-2 zoned lot.
Where is this auto shop located?
The property is located at 708 W Broad Street Nevada City, CA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Well‑built block garage/shop with office and tall roll‑up door on a 0.23‑acre lot zoned R‑2; Approximately 800+/- SF garage/shop with office; wood siding on the office portion; Newer paint, siding, and composition (comp) roof
