Prime Downtown NNN Leased Restaurant Completely Renovated
Commercial real estate listings in Nevada City, CA, US
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Listing was updated on: 11/06/2022
Price: 950000.00
location icon 214 Broad St, Nevada City, CA 95959, USA
Retail for Sale
from October 21, 2022
Description

LocationNevada City 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.

Broad Street is the heart of Nevada City's award-winning historic district, which is listed on the National Register of Historic Places. It is considered to be among the best-preserved towns of the West. Visitors enjoy fine restaurants and lodgings, live theatre and music, specialty shopping, antiques, art galleries and museums. In recent years, the Nevada City lifestyle has attracted artists, writers, musicians and retirees as well as small business people and high-tech entrepreneurs who are able to locate their enterprises away from the pressures of big city life.SaleAn almost impossible-to-find single-tenant triple-net (NNN) newly constructed investment offering in an unrivaled Broad Street location in the heart of historic Downtown Nevada City directly across from the new National Exchange Hotel. A new 5-year personally guaranteed lease with two 5-year options and annual CPI rent escalations provides the investor with a management/maintenance-free property priced at an in-place 5.3% capitalization rate of return. This property was fully and completely renovated in 2019-20 with approximately $400,000 worth of improvements including all new electrical, plumbing, sewer, HVAC, whole-building generator, roof mounted solar, insulation, fire alarm, framing, flooring, ceiling, LED lighting, ADA restroom, windows, doors, exterior paint/fascia and a first class commercial kitchen complete with Ansul hood system, dish/prep/handwashing sinks, comm. dishwasher, grease trap, water heater and more. If you are tired of the volatile stock market and are looking for a steady return that will keep up with inflation and appreciate over time, look no further.

Additional parameters

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