350 Crown Point Cir Grass Valley, CA 95945
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Class A office, owner-user opportunity, high cap rate.
Property size:
11,675 SFProperty Features for 350 Crown Point Cir
General Information
- Property type
- Office Properties & Spaces
- Square Feet
- 11,675 SF
- Class
- A
- Lot Size
- 65,776 SF
Building Details
- Year Built
- 1991
- Stories
- 2
Listing Agency: Coldwell Banker Commercial Grass Roots Realty Listing Agent: Tyson Tucker
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional Class A office building, located at 350 Crown Point Circle in Grass Valley, California's prestigious Whispering Pines Business Park, presents a compelling investment opportunity. The 11,675 square foot, two-story building sits on a 1.51-acre lot and boasts 60 parking spaces (4.04/1,000 sq ft). Currently 68% occupied, the property features ten suites ranging from 378 to 5,041 square feet, with an average size of 1,485 square feet. Five rent-ready vacant units totaling 4,784 square feet offer immediate income potential. The building, constructed in 1991, has been meticulously maintained and benefits from a C-1 (Neighborhood Commercial District) zoning designation. The asking price is $3,000,000 ($202.06/sq ft land value), projecting a 7.42% pro-forma cap rate at market rents. Most leases are NNN, allowing for direct pass-through of operating expenses, including hazard insurance. The current owner-user occupies approximately 5,000 square feet and may vacate, downsize to approximately 3,500 square feet, or sign a three-year lease at market rates. This presents a unique opportunity for an owner-user to occupy a significant portion of the building while generating income from existing leases, or for an investor to capitalize on below-market rents and lease-up potential. The average lease rate is currently $1.13/sq ft NNN, significantly below the market rate of approximately $1.50/sq ft NNN.
Property Profile
Location Intelligence
Current Use by Public Records
Bell, Joseph J
Law Firm
Bells Law
Law Firm
McSweeney & Associates APC
Accounting Firm
Edward Jones - Financial ...
Financial Advisor
Edward Jones - Financial ...
Financial Advisor
Location Insight
- Map
- Local Demand
- City
- Grass Valley
- County
- Nevada
- State
- California
- Longitude
- -121.0300268
- Latitude
- 39.2203346
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FAQs
What type of property is this?
Office Property / Space - Class A office, owner-user opportunity, high cap rate.
Where is this office property / space located?
The property is located at 350 Crown Point Cir Grass Valley, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Class A office building, 11,675 square feet, in Grass Valley, CA's Whispering Pines Business Park.; Two-story building on a 1.51-acre lot with 60 parking spaces (4.04/1,000 sq ft).; Currently 68% occupied with ten suites ranging from 378 to 5,041 square feet; five vacant units (4,784 sq ft) available.
