155 Spring Hill DrGrass Valley, CA 95945

Property Details for 155 Spring Hill Dr

Year built

2000

Construction

TILT-UP CONCRETE

Lot size

0.14 AC

Property size (Sq ft)

6,312 SF

Property type

Industrial properties

Property subtype

Other industrial properties

APN

009-201-047-000

APU

9201047000

Description

This exceptional investment opportunity presents a 4,576 square foot industrial condominium unit in Grass Valley, California. Located at 155 Spring Hill Drive, Unit 4, this property boasts a desirable flex space configuration, encompassing high-bay warehouse/manufacturing space (approximately 4,424 square feet) featuring 26-foot ceilings and two large truck doors, and low-bay office/R&D space (approximately 9,152 square feet total, split evenly between ground and upper levels). The building, constructed in 2000 and featuring a new roof installed in 2021, sits on a 1.14-acre lot within a larger 23,000 square foot complex. Currently, the property is fully leased to three tenants, generating a substantial net operating income (NOI) of $54,000, representing a 7.73% cap rate. However, one tenant (occupying approximately 7,400 square feet) will vacate at the end of the year, presenting a unique opportunity for an owner-occupier to acquire a facility with existing rental income (approximately $6,700 per month from the remaining tenants) and potential for expansion. The property is zoned M-1 and benefits from its proximity to the upcoming Dorsey Marketplace Shopping Center and the planned extension of Spring Hill Drive to Dorsey Drive, promising future appreciation. The asking price is $699,000, or $153 per square foot. The property is part of a four-unit complex.

• Alternative Use

  Use

  Valuation

  Residential

  $1,135,290

  Hospitality

  $1,039,919

  Educational

  $865,201

  Medical

  $894,956

  Retail

  $1,345,868

Location Insight

City

Grass Valley

County

Nevada

State

California

Latitude

39.2249

Longitude

-121.043

CBSA code

46020

CBSA name

TRUCKEE-GRASS VALLEY, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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