140 Litton Dr Grass Valley, CA 95945
- Medical offices
- 20,218 SF
- 2.35 lot acres
Current Use by Public Records
- Dr. Mara Berezniak / Family Practice Physician
- Constance Gaulter, MD / Family Practice Physician / Doctor
- Marini Accounting & Tax Co / Tax Preparation Service
- Dr. Faisal Mirza / Orthopedic Surgeon
- Theresa L Md Colosi / Orthopedic Surgeon
Property Details for 140 Litton Dr
- Year built
- 2000
- Lot size
- 2.35 lot acres
- Property size
- 20,218 SF
- Zone code
- C
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 035-540-005-000
- APU
- 35540005000
Description
This Class A, 20,860 square foot medical office building in Grass Valley, CA, is situated on 2.35 acres in a prime location on Litton Drive. Built in 2000, this two-story building boasts 95.4% occupancy across ten suites, averaging 2,086 square feet each – an ideal size for both medical and traditional office tenants. The asking price is $4,850,000 ($232.50/sq ft), offering a 6.82% cap rate. The property features a NNN lease structure with a weighted average lease term of 3.24 years, providing immediate cash flow and long-term value-add potential. Below-market rents present a significant opportunity to increase net operating income (NOI) through market rent adjustments and efficient expense management. Approximately 34% of the building is already built out for medical use, with additional space readily convertible. The building's excellent condition, including the roof, parking lot, and HVAC systems, reflects pride of ownership. The strategic location near Sierra Nevada Memorial Hospital and other amenities, coupled with a supply-constrained market and low vacancy rates (2.4%), ensures strong future demand and rent growth. The current weighted average rental rate is significantly below market comparables, offering substantial upside potential. The property's existing infrastructure, including plumbed treatment rooms in some suites, further enhances its appeal to medical tenants. This investment presents a compelling opportunity to capitalize on a thriving medical market and a high-quality asset in a desirable location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $5,680,000
- ML approach
- $5,655,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $6,745,000
- 6.5%
- $6,225,000
- 7%
- $5,785,000
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Location Insight
- Map
- Local Demand
- City
- Grass Valley
- County
- Nevada
- State
- California
- Longitude
- -121.053
- Latitude
- 39.2337
- CBSA code
- 46020
- CBSA name
- TRUCKEE-GRASS VALLEY, CA MICROPOLITAN STATISTICAL AREA
