Stunning Mixed-use Investment Property

Listing was updated at: 06/03/2019
Property Overview
Price/Rent PSF $ 825,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 3,886
Date Available 11/27/2018
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Parking 12
Floors 3
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Grass Valley is nestled in the Sierra Nevada foothills only one hour from both Lake Tahoe & Sacramento. Located below the snow line & above the fog for the perfect 4-season climate. Within 90 minutes of 4 major universities (UC Davis, CS Chico, CS Sacto & UN Reno) & 2 intl. airports (Sacto & Reno). Nevada County’s economy has effectively transitioned from mining/logging/construction to video tech, digital media & other high-tech industries, balanced by national-caliber arts & entertainment sectors. With superb schools & multiple national awards relating to unbeatable quality of life, the region continues to attract residents & businesses from nearby Sacramento & the SF Bay Area.

Downtown Grass Valley is a dynamic and thriving 4 block commercial district which forms the centerpiece of Grass Valley. It houses beautifully restored Victorian-era buildings together with mining and art deco inspired structures. This authentic Gold Rush town has become a hub of retail, cultural and professional activity which is reflected in the under 5% street-level vacancy. The property is located directly across the street from the largest hotel and convention center in Western Nevada County.

The property consists of: i) a beautiful +-2400 sq ft ground-level restaurant with enclosed patio & deck seating and basement/wine cellar; ii) a lovely +-1300 sq ft second-level flat currently approved for office; and iii) a chic 1.5 bed/1 bath third-floor loft apartment w/ vaulted ceilings & skylights. Superbly located directly across from the newest & largest hotel/convention center in the region, easy walking distance to the historic town center, and only 1.5 blocks from Highway 49/20. Magnificent high ceilings & hardwood floors throughout. Completely renovated in 1992 & 2000 including elect, plumb, HVAC. This is a highly desirable, one-of-a-kind property for an investor, live/work artisan, or owner/restaurateur. Short term leases and below market rents offer tremendous flexibility of use and extraordinary financial upside.