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Property Overview

Price/Rent PSF $ 5,350,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available Inquire
Date Available 05/12/2022
Additional URL Link
Parking 208
Building size 38230
Search Demographic Data LandCheck Explore financing options
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Description

Location
Grass Valley is nestled in the Sierra Nevada foothills only one hour from both Lake Tahoe and Sacramento. The region is located below the snow line and above the fog for the perfect 4-season climate. It lies within 90 minutes of 4 major universities (UC Davis, CS Chico, CS Sacramento & UN Reno) and 2 international airports (Sacramento & Reno). Nevada County’s economy has effectively transitioned from mining/logging/construction to video technology, digital media and other high-tech industries, balanced by national caliber arts and entertainment sectors. With superb schools and multiple national awards relating to unbeatable quality of life, the Grass Valley/Nevada City region continues to attract residents and businesses from nearby Sacramento and the SF Bay Area.



The property is located in the Brunswick/Glenbrook Basin, the most active commercial hub in the City, situated on both sides of Highway 49 at the Brunswick Road exit adjacent to Nevada City. The area contains 3 anchored centers with tenants including Safeway, SaveMart, Bank of America, RiteAid, Walgreens, Staples, CVS and various national fast food eateries.

Sale
Brunswick Plaza is an approximately 38,230 rentable square foot multi-tenant strip center enjoying full (95%) occupancy. Located in the Brunswick Basin, the prime retail hub of Grass Valley, amongst national retailers including Rite-Aid, Staples, Wells Fargo, Bank of America, Safeway, CVS and many more. This 3-building complex completed in 1981 sits on two contiguous parcels totaling 4.79 acres and consists of a single-level 9,068 SF building, a split-level structure of 23,645 SF, and a freestanding regional bank building of 5,517 SF. The location, with over 500' of high traffic frontage and above standard parking, drives consistent tenant demand. In addition to a seasoned and stable income stream, the offering provides various value-add opportunities including expansion, renovation, re-tenanting and/or repurposing. The center across the street offers NNN rents of $2.25/sf and enjoys full occupancy. The subject property's rents average only $1.11/sf, promising tremendous upside returns with any value-add effort taken.

Location (Click here to view the location on the map.)
The information above is from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.

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