Owner/User Industrial Flex Building with Income

Grass Valley (or Nevada City) is nestled in the Sierra Nevada foothills only one hour from both Lake Tahoe and Sacramento. The region is located below the snow line and above the fog for the perfect 4-season climate. It lies within 90 minutes of 4 major universities (UC Davis, CS Chico, CS Sacramento & UN Reno) and 2 international airports (Sacramento & Reno). Nevada County’s economy has effectively transitioned from mining/logging/construction to video technology, digital media and other high-tech industries, balanced by national caliber arts and entertainment sectors. With superb schools and multiple national awards relating to unbeatable quality of life, the Grass Valley/Nevada City region continues to attract residents and businesses from nearby Sacramento and the SF Bay Area. The Wolf Creek Industrial Park is a small light industrial subdivision located just off Idaho Maryland Road only 1/4 mile from Highway 49 in central Grass Valley.Two of four industrial condominium units comprising a +-23,000 SF complex situated on a 1.14 acre common parcel. The subject condos - Units 3 & 4 - total +-13,576 SF, representing approximately 61% of the entire complex. This modern split-level concrete tilt-up building was constructed in 2000 and received a new roof in 2021. The functional layout includes +-4,424 SF of high bay warehouse/manufacturing space with two large truck doors and 26' ceilings, and +- 9,152 SF of low bay office/R&D space split equally between the ground floor and upper level. The property is currently fully leased to 3 tenants; however, High Sierra Electronics, occupying +-7,400 SF, will be leaving the building at year end after a 20-year stint, creating an exciting opportunity for an owner/user buyer to acquire and occupy a new facility with healthy rental income (+-$6,700/mo.) from the two remaining tenants as well as future expansion capability. The property should benefit from windfall appreciation upon completion of the nearby Dorsey Marketplace Shopping Center and the extension of Spring Hill Drive up to Dorsey Dr.