233 Broad St Nevada City, CA 95959
- Turn key restaurants
- 8,436 SF
- 0.12 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 233 Broad St
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.12 lot acres
- Property size
- 8,436 SF
- Zone code
- C
- Property type
- Turn key restaurants
- APN
- 005-399-009-000
- APU
- 5399009000
Description
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.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Nevada City
- County
- Nevada
- State
- California
- Longitude
- -121.019
- Latitude
- 39.2624
- CBSA code
- 46020
- CBSA name
- TRUCKEE-GRASS VALLEY, CA MICROPOLITAN STATISTICAL AREA
