110 Spring Hill Dr Grass Valley, CA 95945
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5,500 SF Flex/Warehouse, High ROI
Property size:
5,500 SFProperty Features for 110 Spring Hill Dr
General Information
- Property type
- Distribution properties
- Square Feet
- 5,500 SF
- Lot Size
- 123,710 SF
Building Details
- Units
- 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 investment opportunity presents a 5,500 square foot flex/warehouse property in Grass Valley, California, currently leased to CommonSpirit/Dignity Health. The property, located at 110 Spring Hill Dr Units 2&3, consists of approximately 2,000 square feet of warehouse space and 3,800 square feet of two-story office space within a well-maintained industrial condo park. The tenant, a creditworthy S&P BBB-rated entity, has occupied the premises for over ten years and holds a lease extending to September 25th, with two three-year options at fair market value. The current rent is significantly below market rate, offering substantial potential for increased cash flow upon lease renewal. The current cap rate is approximately 4%, projected to rise to approximately 7% at market rent and after a reduction in operating expenses. The property sits on a 2.84-acre lot and is zoned M1. The asking price is $795,000, representing $144.55 per square foot and $397,500 per unit. Operating expenses are currently $0.26 per square foot per quarter, including a temporary surcharge for a recently replaced roof; this surcharge will decrease by $0.13 per square foot per quarter once the roof repayment is complete. This property offers a rare opportunity to acquire a stable, value-add industrial investment in a location with limited comparable properties. The building is part of a larger 43,000 square foot industrial condo project built in 1989, featuring units with varying sizes and loading capabilities. The property benefits from access to all city utilities and a professionally managed owners association.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Ames Designs
Art Gallery
Snell Casting
Production Facility
Arrow Mountain Screen ...
(Bike/Boat/Book/etc) Store
Sierra Nevada Ambulance ...
Ambulance Service
BrewBilt Brewing Company
Production Facility
Location Insight
- Map
- Local Demand
- City
- Grass Valley
- County
- Nevada
- State
- California
- Longitude
- -121.0410506
- Latitude
- 39.2241762
Nearby Similar for Sale
FAQs
What type of property is this?
Distribution property - 5,500 SF Flex/Warehouse, High ROI
Where is this distribution property located?
The property is located at 110 Spring Hill Dr Grass Valley, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: $795,000 asking price for a value-add industrial property.; 5,500 square feet, consisting of approximately 2,000 SF warehouse and 3,800 SF two-story office space.; 100% occupancy with CommonSpirit/Dignity Health as tenant, a mission-critical user with a lease expiring 9/25, with two 3-year options at fair market value.
