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1st Floor - Unit 4-5
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Industrial
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3,952 SF
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$605,000 USD
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Unit Size: 3,952 SF
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Condo Use: Industrial
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Price: $605,000 USD
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Sale Type: Owner User
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Price/SF: $153.09 USD
Description
Coldwell Banker Commercial Grass Roots is pleased to present for sale 110 Springhill Units 4-5. The offering represents a fantastic opportunity to acquire a 3,952 SF, M-1 Zoned industrial condo located within city limits of Grass Valley, CA. The property is fully sprinklered, features 18' clear height and has a 12'x12' roll up door. The buildout is ideal for industrial users with one small office and one bathroom. The project's OA is professionally managed and a new roof was installed around 2 years ago. OA fees ($.26/SF/quarter) cover hazard insurance, parking lot, roof, etc. OA fees currently include a $.13/SF/quarter surcharge for a new roof that was installed a couple of years ago, OA fees will decrease by $.13/SF/quarter once the roof is paid off. The property is on all city utilities (water & sewer). Units 4-5 are adjacent to units 6-5 which are also on the market and could easily be joined together to create 7,900 SF.
COMPETITIVE SELLER FINANCING TERMS AVAILABLE WITH CREDIT APPROVAL.
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1st Floor - Unit 2-3
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Industrial
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5,500 SF
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$795,000 USD
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Unit Size: 5,500 SF
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Condo Use: Industrial
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Price: $795,000 USD
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Sale Type: Investment or Owner User
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Price/SF: $144.55 USD
Description
Coldwell Banker Commercial Grass Roots is pleased to present for sale 110 Springhill Drive units 2-3, which totals 5,776 SF comprised of approximately 2,000 SF of warehouse and 3,800 SF of two story office. The Property is currently leased to Dignity Health/CommonSpirit, who uses the facility as a mission-critical ambulatory staging/rest area. The site is incredibly hard to replicate given the custom build-out and lack of available industrial space in Western Nevada County. Dignity has occupied the Premises for over 10 years. Their current term is through 9/25 with two (2) three (3) year FMV options. The in-place rent is approximately 37% below the market rent of $.95/SF/MO, allowing an investor the ability to significantly increase cash flow upon Diginity's FMV renewal. The in-place cap rate is approximately 4.00%, but would stabilize at approx. 7% at market rents/reduction of OA fees. The offering represents a great opportunity for an investor to acquire a bite-sized light industrial investment occupied by investment grade tenant (S&P BBB). 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 include a repayment for the roof (100% surcharge of $/13/SF/quarter)., OA fees will decrease by $.13/SF/quarter once the roof is paid off.
COMPETITIVE SELLER FINANCING TERMS AVAILABLE WITH CREDIT APPROVAL.
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1st Floor - Unit 6-7
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Industrial
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3,952 SF
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$550,000 USD
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Unit Size: 3,952 SF
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Condo Use: Industrial
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Price: $550,000 USD
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Sale Type: Owner User
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Price/SF: $139.17 USD
Description
Coldwell Banker Commercial Grass Roots is pleased to present for sale 110 Springhill Units 4-5. The offering represents a fantastic opportunity to acquire a 3,952 SF, M-1 Zoned industrial condo located within city limits of Grass Valley, CA. The property is fully sprinklered, features 18' clear height and has a 12'x12' roll up door. The buildout is ideal for industrial users with two small offices and one bathroom. The project's OA is professionally managed and a new roof was installed around 2 years ago. OA fees ($.26/SF/quarter) cover hazard insurance, parking lot, roof, etc. OA fees currently include a $.13/SF/quarter surcharge for a new roof that was installed a couple of years ago, OA fees will decrease by $.13/SF/quarter once the roof is paid off. The property is on all city utilities (water & sewer). Units 6-7 are adjacent to units 4-5 which are also on the market and could easily be joined together to create 7,900 SF.
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Tyson Tucker
Coldwell Banker Commercial Grass Roots