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The Griggs Building 100 Union St Bureau 950 m² 100 % Loué À vendre Nevada City, CA 95959 2 674 897 € (2 816,43 €/m²) Taux de capitalisation 5,53 %
Certaines informations ont été traduites automatiquement.
Informations principales sur l'investissement
- 100% occupied with diversified tenant mix across retail, office, & residential
- Contractual rent growth: American Rivers (1,873 SF) averaging 21.0%/yr through Oct 2028 (46.5% aggregate increase)
- Modern systems: passenger elevator, secured subgrade parking (7 vehicles), updated building envelope
- Newest building in a supply-constrained historic downtown with no comparable new inventory
- 13% in-place rent discount to market with 1.81 years of WALT providing near-term upside
- Projected 6.01% return on cost in Year 1 as contractual and near-term mark to market increases take effect
Résumé analytique
Tucker Commercial, as Exclusive Advisor, is pleased to present for sale 100 Union Street, a 10,223 SF mixed-use asset situated in the heart of historic downtown Nevada City, California. The property is 100% occupied, generating in-place net operating income of $172,134 at a 5.53% going-in capitalization rate, with a projected 6.01% Year 1 cap as contractual rent increases take effect and near-term leases roll to market.
Built in 2008, 100 Union Street is the newest building in a downtown whose architectural fabric dates to the California Gold Rush. It blends seamlessly into the Victorian streetscape while delivering a level of functionality that no comparable building in the submarket can replicate: proper storefront depths, modern mechanical systems, a passenger elevator, and secured subgrade parking for seven vehicles. Downtown Nevada City has zero remaining developable land. This asset is effectively irreplaceable.
The ground floor is anchored by two established, high-traffic restaurant operators: Nourish, a popular sushi restaurant, and Taqueria Taco Loco, a popular taqueria, both featuring outdoor dining in addition to interior seating, activating the streetscape and driving consistent foot traffic to the property. The full rent roll comprises nine tenants across three income streams: three ground-floor retail suites, four professional office suites ranging from 779 to 1,873 SF, and two one-bedroom residential apartments. No single tenant exceeds 18.3% of NRA. In-place rents of $2.10/SF/Mo sit approximately 13% below the weighted average market rent of $2.42/SF/Mo, and a WALT of 1.81 years positions a new owner for near-term mark-to-market across the majority of the rent roll.
The property features extremely strong contractual rent growth, as an example, American Rivers (Suite 116, 1,873 SF, and the property’s largest tenant) carries a 46.5% aggregate rent increase through October 2028, and portfolio-wide NOI is projected to grow 21.8% from Year 0 to Year 3 through escalations and near-term rollover repricing to market.
100 Union Street represents a generational opportunity to acquire a trophy asset in the heart of one of California's most celebrated historic downtowns, with strong in-place income and a clear path for sustained NOI growth and value creation.
Please visit the property website to sign the CA and access the OM and financial data: https://tjtcre.com/property/100-union-street/
Built in 2008, 100 Union Street is the newest building in a downtown whose architectural fabric dates to the California Gold Rush. It blends seamlessly into the Victorian streetscape while delivering a level of functionality that no comparable building in the submarket can replicate: proper storefront depths, modern mechanical systems, a passenger elevator, and secured subgrade parking for seven vehicles. Downtown Nevada City has zero remaining developable land. This asset is effectively irreplaceable.
The ground floor is anchored by two established, high-traffic restaurant operators: Nourish, a popular sushi restaurant, and Taqueria Taco Loco, a popular taqueria, both featuring outdoor dining in addition to interior seating, activating the streetscape and driving consistent foot traffic to the property. The full rent roll comprises nine tenants across three income streams: three ground-floor retail suites, four professional office suites ranging from 779 to 1,873 SF, and two one-bedroom residential apartments. No single tenant exceeds 18.3% of NRA. In-place rents of $2.10/SF/Mo sit approximately 13% below the weighted average market rent of $2.42/SF/Mo, and a WALT of 1.81 years positions a new owner for near-term mark-to-market across the majority of the rent roll.
The property features extremely strong contractual rent growth, as an example, American Rivers (Suite 116, 1,873 SF, and the property’s largest tenant) carries a 46.5% aggregate rent increase through October 2028, and portfolio-wide NOI is projected to grow 21.8% from Year 0 to Year 3 through escalations and near-term rollover repricing to market.
100 Union Street represents a generational opportunity to acquire a trophy asset in the heart of one of California's most celebrated historic downtowns, with strong in-place income and a clear path for sustained NOI growth and value creation.
Please visit the property website to sign the CA and access the OM and financial data: https://tjtcre.com/property/100-union-street/
Informations sur l’immeuble
Type de vente
Investissement
Type de bien
Surface de l’immeuble
950 m²
Classe d’immeuble
A
Année de construction
2005
Prix
2 674 897 €
Prix par m²
2 816,43 €
Taux de capitalisation
5,53 %
RNE
147 922 €
Pourcentage loué
100 %
Occupation
Multi
Hauteur du bâtiment
2 étages
Surface type par étage
475 m²
Coefficient d’occupation des sols de l’immeuble
1,24
Surface du lot
0,08 ha
Zonage
GB HD SC - Commercial
Stationnement
7 places (7,37 places par 1 000 m² loué)
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Taxes foncières
| Numéro de parcelle | 005-396-029-000 | Évaluation des aménagements | 2 161 908 € |
| Évaluation du terrain | 459 981 € | Évaluation totale | 2 621 889 € |
Taxes foncières
Numéro de parcelle
005-396-029-000
Évaluation du terrain
459 981 €
Évaluation des aménagements
2 161 908 €
Évaluation totale
2 621 889 €
1 sur 83
Vidéos
Visite extérieure 3D Matterport
Visite 3D
Photos
Street view
Rue
Carte
1 sur 1
Présenté par
The Griggs Building | 100 Union St
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