110 Spring Hill Drive #2/3, Grass Valley, CA

$795,000

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3,800

Square feet

0.04

Acres

About 110 Spring Hill Drive #2/3

110 Springhill Drive units 2 and 3 are comprised of approximately 3000 sf of 2 story office and 2550 sf of warehouse. The property is currently leased to Dignity Health who uses the facility as a mission-critical ambulatory staging/rest area. Dignity has had a long tenancy at the property and has recently extended their lease for an additional 3 years. The in-place rent of the tenant is approximate 23% below market, allowing an investor the ability to significantly increase the cash yield upon Dignity's lease termination. The in-place cap rate is approximately 4.00% and the lease features annual increases. the offering represents great opportunity for an investor to acquire a bite-sized light industrial investment occupied by an investment grade tenant (S%P BBB). Alternatively, the project represents an equally attractive opportunity for an owner-user to buy now and cashflow until Dignity's lease terminates. The property is in a well maintained industrial condo park, OA fees are currently $.26/SF/quarter. The roof was replaced approximately 2 years ago and the OA fees do include a repayment for the roof, OA fees will decrease once the roof is paid off.

Features of 110 Spring Hill Drive #2/3

MLS® # 223094175
Price $795,000
Square Footage 3,800
Acres 0.04
Year Built 1989
Type Commercial
Sub-Type Industrial
Status Active

Community Information

Address 110 Spring Hill Drive #2/3
Area Grass Valley
City Grass Valley
County Nevada
State CA
Zip Code 95945-5913

Amenities

Utilities Separate Gas Meter, Cable Connected, Internet Available, Other, Natural Gas Connected
Features Varies By Unit

Interior

Heating Central
Cooling Central, None, MultiZone
Stories Other
Has Basement No

School Information

Attendance Zone LYMAN GILMORE MIDDLE SCHOOL, MARGARET G. SCOTTEN ELEMENTARY SCHOOL, BELL HILL ACADEMY

Additional Information

Zoning M1
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeColdwell Banker Commercial Grass Roots Realty

Listing Map

Listing Schools/Amenities

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