Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    18885 Norlene Way Grass Valley, CA 95949
    Back to Search
    Property profile & analytics

    18885 Norlene Way, Grass Valley, CA 95949

    View on Map
    • Airport retail
    • 1,360 SF
    • 0.74 lot acres
    Off-Market
    Property ID
    US09-0393680
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Airport retail

    Property Details for 18885 Norlene Way

    Year built
    2004
    Lot size
    0.74 lot acres
    Property type
    Airport retail
    Property subtype
    Shopping centers
    APN
    024-250-003-000

    Description

    This exceptional property offers a unique opportunity to own a 1,360 square foot hangar situated on a 0.74-acre lot at the Alta Sierra Airpark (09CL) in Grass Valley, California. Built in 2004, the hangar features 40x34 dimensions and Schweiss bi-fold doors. The property boasts a 3-bedroom septic system already installed, with water and power readily available. Enjoy convenient road access via Sargent Sky Way. The lot offers a desirable southern exposure and stunning local views. This is one of the last available lots in this prime location, perfect for building a new home (minimum 1300 sq ft permitted). The airpark features a 2800-foot long, 50-foot wide runway (FAA Identifier: 09CL, Radio Frequency 122.9 MHZ). The property is zoned for residential use and presents an incredible opportunity for commuter pilots or anyone seeking a unique lifestyle with easy access to outdoor recreation. Seller financing options are available. This is a rare chance to own a piece of the beautiful Gold Country, minutes from downtown Grass Valley, golf courses, rivers, hiking trails, and within 90 minutes of Lake Tahoe and skiing. The asking price is $275,000. APN: 024-250-003-000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grass Valley
    County
    Nevada
    State
    California
    Longitude
    -121.058675
    Latitude
    39.109685

    Comparable in this City

    • Contact for pricing

      Highway 49 Commercial Live/Work Property

      Commercial zoned 1.04-acre property with live/work opportunity.
      Little Valley Rd, Grass Valley, CA 95949
      View Details
    • Contact for pricing
      18,000 SF

      Grass Valley Industrial/Manufacturing Opportunity

      Industrial/Manufacturing property on 5.1 acres near residential development.
      22525 Kingston Ln, Grass Valley, CA 95949
      View Details
    • $239,000
      14.48 Acres

      Grass Valley Acreage: Build Your Dream

      14.48 acres in Grass Valley with utilities in place.
      18891 Tanglewood Hollow Way, Grass Valley, CA 95949
      View Details
    • Contact for pricing

      Commercial Lots Near Highway 49

      High-visibility commercial property near Highway 49 in a high-growth area.
      10061 Alta Sierra Dr, Grass Valley, CA 95949
      View Details
    • Contact for pricing

      Wooded Acreage Near Historic Grass Valley

      23.73+/- acres with wells near downtown Grass Valley.
      Windwhistle Way, Grass Valley, CA 95949
      View Details
    • $225,000

      Secluded Off-Grid Land Parcel

      4.94 acre parcel with yurt, well, greenhouses, and solar.
      11245 Grey Eagle Rd, Grass Valley, CA 95949
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Highway 49 Commercial Live/Work Property

      Commercial zoned 1.04-acre property with live/work opportunity.
      Little Valley Rd, Grass Valley, CA 95949
      View Details
    • Contact for pricing
      18,000 SF

      Grass Valley Industrial/Manufacturing Opportunity

      Industrial/Manufacturing property on 5.1 acres near residential development.
      22525 Kingston Ln, Grass Valley, CA 95949
      View Details
    • $239,000
      14.48 Acres

      Grass Valley Acreage: Build Your Dream

      14.48 acres in Grass Valley with utilities in place.
      18891 Tanglewood Hollow Way, Grass Valley, CA 95949
      View Details
    • Contact for pricing

      Commercial Lots Near Highway 49

      High-visibility commercial property near Highway 49 in a high-growth area.
      10061 Alta Sierra Dr, Grass Valley, CA 95949
      View Details
    • Contact for pricing

      Wooded Acreage Near Historic Grass Valley

      23.73+/- acres with wells near downtown Grass Valley.
      Windwhistle Way, Grass Valley, CA 95949
      View Details
    • $225,000

      Secluded Off-Grid Land Parcel

      4.94 acre parcel with yurt, well, greenhouses, and solar.
      11245 Grey Eagle Rd, Grass Valley, CA 95949
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Hub Anchored by Raley's

      Shopping center anchored by national tenants in Grass Valley, CA.
      692 Freeman Ln, Grass Valley, CA 95949
      View Details
    • Contact for pricing
      1,470 SF

      Shopping Center Space For Rent

      Retail space available in Grass Valley shopping center.
      716 Freeman Ln, Grass Valley, CA 95949
      View Details
    • Contact for pricing
      1,700 SF

      Shopping Center Retail Space Available

      Retail space for lease in a well-established shopping center.
      650-762 Freeman Ln, Grass Valley, CA 95949
      View Details
    • Contact for pricing

      Retail Space in Grass Valley

      Retail space available for rent in Grass Valley, California.
      692 Freeman Ln, Grass Valley, CA 95949
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space For Lease

      Retail space available for lease in Grass Valley, CA.
      111-151 W Mcknight Way, Grass Valley, CA 95949
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    18885 Norlene Way
    Grass Valley, CA 95949
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    18885 Norlene Way, Grass Valley, CA, 95949
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!