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Sutton Way

851 Sutton Way, Grass Valley, CA 95945

Listing Price: $3,979,724

Cap Rate
6.63%
Gross SF
12,588
Rentable SF
12,588
Price/Gross SF
$316.15
Lot Size
1.00 acres
Year Built
2008

Investment Overview

The offering consists of  two retail/office buildings totaling 12,604 square feet, well-located in the city of Grass Valley, California.  More specifically, the property is located at the signalized corner of Sutton Way and Brunswick Road within the grocery-anchored shopping center known as the "Gold Country Center".  Gold Country Center is a regional shopping center home to Safeway, Starbucks, Auto Zone, Chase Bank, CVS, and a recently approved Wendy's restaurant.  Additionally, this property is supported by national retailers included but not limited to Walgreens, DMV, Best Western, Dollar Tree, Wells Fargo, Good Year Tire, All-State, Bank Of America, and many more (see included aerial photographs).   Located along Highway 49 (32,887 VPD) and situated on the signalized corner of Sutton Way and Brunswick Road (26,869 VPD) the property benefits from high traffic counts.  Grass Valley is located in the heart of the Gold-Country approximately one hour and 15 minutes East of Sacramento and one hour and 20 minutes West of Lake Tahoe, California. Grass Valley continues to be a choice for the growing population of people seeing an affordable live-work-play lifestyle given its proximity to the Bay Area, Napa Valley and Lake Tahoe.  Furthermore,  as a result of the Pandemic, Grass Valley and other foothill communities are seeing significant population growth due to the continued high level of employees moving out of urban markets and choosing to work from home offices in scenic rural areas.  Originally consisting of one two-story building, the owners constructed the second two-story red building (situated on the hard corner southern portion of the property) in 2010.  They updated the original building the same year including a new roof with a 20-year warranty.   It is a true pride of ownership property with little to no deferred maintenance.   As a result, the center has been maintained a high occupancy level.  Tenants are attracted to the properties attractive architectural appeal along with it's central location within Grass Valley. Offered at $3,979,724 equating to a 6.63 percent cap rate, an investor can enjoy a passive ownership asset with all leases on a triple-net lease basis. The property is currently 95.23 percent offering upside upon lease-up of the currently 601-square foot vacancy.  In addition, the owners are currently in negotiations on the cell tower generator that would increase the NOI by an additional $9,000 a year.

Investment Highlights

  • Located Immediately Off of Highway 49 (32,887 Vehicles Per Day)
  • Located on a Hard Corner At The Highest Traffic Intersection Of The City (26,869 Vehicles Per Day)
  • Out Parcel to an Essential Needs Safeway Shopping Center
  • Surrounded by Numerous National Retailers (Walgreens, Auto Zone, Chase Bank, CVS, Dollar Tree, Wells Fargo, Good Year, All State, Bank Of America, and Many More)
  • History of Long-Term Stable Tenancy (95 Percent Occupied)

Exclusively Listed By

Listing Price: $3,979,724

Cap Rate
6.63%
Gross SF
12,588
Rentable SF
12,588
Price/Gross SF
$316.15
Lot Size
1.00 acres
Year Built
2008

Investment Highlights

  • Located Immediately Off of Highway 49 (32,887 Vehicles Per Day)
  • Located on a Hard Corner At The Highest Traffic Intersection Of The City (26,869 Vehicles Per Day)
  • Out Parcel to an Essential Needs Safeway Shopping Center
  • Surrounded by Numerous National Retailers (Walgreens, Auto Zone, Chase Bank, CVS, Dollar Tree, Wells Fargo, Good Year, All State, Bank Of America, and Many More)
  • History of Long-Term Stable Tenancy (95 Percent Occupied)

Investment Overview

The offering consists of  two retail/office buildings totaling 12,604 square feet, well-located in the city of Grass Valley, California.  More specifically, the property is located at the signalized corner of Sutton Way and Brunswick Road within the grocery-anchored shopping center known as the "Gold Country Center".  Gold Country Center is a regional shopping center home to Safeway, Starbucks, Auto Zone, Chase Bank, CVS, and a recently approved Wendy's restaurant.  Additionally, this property is supported by national retailers included but not limited to Walgreens, DMV, Best Western, Dollar Tree, Wells Fargo, Good Year Tire, All-State, Bank Of America, and many more (see included aerial photographs).   Located along Highway 49 (32,887 VPD) and situated on the signalized corner of Sutton Way and Brunswick Road (26,869 VPD) the property benefits from high traffic counts.  Grass Valley is located in the heart of the Gold-Country approximately one hour and 15 minutes East of Sacramento and one hour and 20 minutes West of Lake Tahoe, California. Grass Valley continues to be a choice for the growing population of people seeing an affordable live-work-play lifestyle given its proximity to the Bay Area, Napa Valley and Lake Tahoe.  Furthermore,  as a result of the Pandemic, Grass Valley and other foothill communities are seeing significant population growth due to the continued high level of employees moving out of urban markets and choosing to work from home offices in scenic rural areas.  Originally consisting of one two-story building, the owners constructed the second two-story red building (situated on the hard corner southern portion of the property) in 2010.  They updated the original building the same year including a new roof with a 20-year warranty.   It is a true pride of ownership property with little to no deferred maintenance.   As a result, the center has been maintained a high occupancy level.  Tenants are attracted to the properties attractive architectural appeal along with it's central location within Grass Valley. Offered at $3,979,724 equating to a 6.63 percent cap rate, an investor can enjoy a passive ownership asset with all leases on a triple-net lease basis. The property is currently 95.23 percent offering upside upon lease-up of the currently 601-square foot vacancy.  In addition, the owners are currently in negotiations on the cell tower generator that would increase the NOI by an additional $9,000 a year.

Exclusively Listed By

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