140 Litton Dr, Grass Valley, CA 95945
- Medical Office Space
- 20,218 SF
- 2.35 lot acres
Current Use by Public Records
- Dr. Mara Berezniak / Pediatrician / Physician
- Constance Gaulter, MD / Pediatrician / Physician
- Marini Accounting & Tax Co / Tax Preparation
- Dr. Faisal Mirza / Physician
- Theresa L Md Colosi / Physician
Property Details for 140 Litton Dr
- Year built
- 2000
- Lot size
- 2.35 lot acres
- Zone code
- C
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 035-540-005-000
- APU
- 35540005000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 4, 2025 | $4,375,000 | 140 Litton LLC | Shaws Hill Partners | Grant Deed | $1.5M · Westamerica Bank |
| Aug 31, 2021 | — | Shaws Hill Partners | — | Deed · related | $1.7M · Westamerica Bank |
| Oct 8, 1999 | $25,000 | Seghezzi Trust | Seghizzi INC | Trustees Deed · related | — |
| Oct 7, 1999 | — | Seghezzi INC | Seghezzi INC | Quit Claim Deed · related | — |
| — | — | Shaws Hill Partners | — | Deed Of Trust · related | $2.3M · Westamerica Bank |
| — | — | Shaws Hill Partners | — | Deed Of Trust · related | $125k · Citizens Bank Nevada County |
| — | — | Shaws Hill Partners | — | Deed Of Trust · related | $120k · Citizens Bank Nevada County |
| — | — | Shaws Hill Partners | — | Loan Modification · related | — |
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
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $3,341,000
Market price range: $1.57M - $4.51M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $3,375,000 Current use
- COMMERCIAL (GENERAL)
- $3,445,000 Change: +2% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
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
