Investment Overview

The Subject Property, 333 Village Boulevard, is a 9,168 square-foot commercial building situated on 0.73 acre(s) of land in Incline Village, Nevada. The property is 100% occupied by six tenants, with over 50% of square footage occupied by Tahoe Forest Hospital District. This site is in an exceptional location, near the intersection of Tahoe Boulevard and Village Boulevard. The existing building was constructed in 2008, and operates as a mix of medical and professional office, both with high-end finishes. The site includes both ground-level covered and uncovered parking, totaling 37 on-site spaces. This property enjoys nearly all modern upgrades and conveniences, including an elevator and the building is fully sprinklered. The current tenants are comprised of Tahoe Forest Hospital District (Aa3 credit rating – Moody’s), Menath Insurance (an Alera Group Agency), Summit Pilates, and a mix of three smaller professional office tenants. These tenants create a synergistic mix of primarily “credit tenants”, and have a history of renewing their leases. Incline Village, Nevada is located along Lake Tahoe’s north shore, less than 5 miles from the California state border. The immediate surrounding area boasts an abundance of amenities, such as ski resorts, golf, Lake Tahoe, hiking biking trails, and much more. Incline Village is a year-round destination for outdoor enthusiasts, and an increasingly popular place to call home thanks to its favorable tax laws and close proximity to California. This exceptional location has resulted in a very affluent local demographic, with an average household income of $179,949 within a 3-mile radius of 333 Village Blvd. Due to the difficulty associated with constructing new commercial properties around Lake Tahoe, properties that come to market are rarely of high quality. Priced at $5,265,000, this offering provides the opportunity to purchase arguably the nicest professional office building in the area.