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    233 Broad St Nevada City, CA 95959

    Sponsored
    For Sale
    $3,450,000

    Historic hotel & restaurant, high ROI

    Property size:
    11,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This iconic, three-story, 11,200 sq ft building in Nevada City, CA, presents a unique investment opportunity. Completely renovated in 2023, it boasts a thriving ground-floor restaurant/espresso bar with a 7-year lease, and a nine-room boutique hotel on the second floor. The hotel features high-end finishes, exposed brick, and high ceilings, offering a luxurious lodging experience. The third floor, encompassing approximately 2,500 sq ft, is ready for build-out, offering flexibility for future expansion. The property benefits from a 100% occupancy rate, a pro-forma NOI of $371,654, and a pro-forma cap rate of 10.77%. Built in 1856 and meticulously renovated, this Class A property maintains its historic charm while offering modern amenities, including new plumbing, HVAC, electrical, and fire suppression systems. The building is located at 233 Broad St, Nevada City, CA 95959, and is zoned GB-HD NevCty. The asking price is $3,450,000 ($308.04/sq ft). The current restaurant tenant has a 7-year lease with two lease options. This exceptional property offers strong cash flow and significant upside potential.

    Property Features for 233 Broad St

    General Information

    Property type
    Restaurants
    Square Feet
    11,200 SF
    Class
    A

    Building Details

    Year Built/Renovated
    1856/2023
    Buildings
    1
    Stories
    3

    HighLights

    • $3,450,000 asking price for a Class A, mixed‑use property.
    • 11,200 square feet, with a price per square foot of $308.04.
    • 10.77% pro‑forma cap rate and $371,654 pro‑forma NOI.
    • 100% occupancy with a 7‑year lease remaining.
    • Newly renovated three‑story building (1856, renovated 2023) in Nevada City, CA, containing a restaurant and a 9‑room boutique hotel.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Nevada City
    County
    Nevada
    State
    California
    Longitude
    -121.01872212058
    Latitude
    39.262611468721

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    FAQs

    What type of property is this?
    Restaurant - Historic hotel & restaurant, high ROI
    Where is this restaurant located?
    The property is located at 233 Broad St Nevada City, CA.
    What is the asking price?
    The asking price for this property is $3,450,000.
    What are key features of this property?
    This property features: $3,450,000 asking price for a Class A, mixed-use property.; 11,200 square feet, with a price per square foot of $308.04.; 10.77% pro-forma cap rate and $371,654 pro-forma NOI.
    Request Owner's contact information
    233 Broad St Nevada City, CA 95959
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    Nevada City, CA 95959
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    233 Broad St Nevada City, CA 95959
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