MLS® ID: 20190286
131 Joerschke Drive
Grass Valley, California, 95945 $1,800,000
131-139 Joerschke (the Project or Property) is a fully occupied office/retail project consisting of five (5) buildings, totaling of 19,938 SF, located in the Brunswick Basin of Grass Valley, CA. The Project offers an investor strong in place cash flow, secure leases, most with options and annual increases, and upside via bringing rents to market if space becomes available. The Property is leased out to three local tenants who have invested significant capital in their spaces suggesting stability for the property into the future. The leases, on average, have three years of term remaining. For estate purposes, Seller prefers to carry a first trust deed with 30% down at market interest rates. Cap rate: 7.25% In place NOI: $130,525 There are (4) detached Class C concrete block single story professional office and service commercial. Constructed approx. 1970-1978 and consistently upgraded since.