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2614 Sussex Ave 2,046 SF Retail Building South Lake Tahoe, CA 96150 $2,966,477 CAD ($1,449.89 CAD/SF) 6.24% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime Investment Opportunity: Single-tenant NNN leased property in South Lake Tahoe, offered at a 6.24% cap rate.
- No Landlord Responsibilities: Lease requires no landlord management or maintenance responsibilities.
- Corporate Guarantee: The lease includes a corporate guarantee from Big Brand Tire Company.
- Long-Term Lease: Leased to Big Brand Tire, currently in the 3rd yr of 20-year term, 2% annual rent increases, two 5-yr extension options.
- Proven Tenant Performance: BBT has operated successfully for over 20 years, showing strong performance in auto service industry.
- Market Stability: High entry barriers and no new development in South Lake Tahoe ensure strong investment protection.
EXECUTIVE SUMMARY
NAI Tahoe Sierra is pleased to present a prime single-tenant NNN leased investment property in South Lake Tahoe, offered at a 6.24% cap rate. This property is leased to Big Brand Tire Company, which is in the third (3) year of a twenty (20) year lease with annual rental increases of two percent (2%). Additionally, there are two (2) five-year (5) options to extend the lease.
This lease requires no landlord management or maintenance responsibilities and includes a corporate guarantee from Big Brand Tire Company. Big Brand Tires has been in operation for over twenty (20) years at this proven location, demonstrating strong performance as an auto service provider in the region.
The subject property comprises two contiguous parcels of land totaling approximately 18,730 square feet and includes a building of approximately 2,046 square feet.
South Lake Tahoe is characterized by high barriers to entry, with new development being virtually non-existent. This provides substantial protection of investment, ensuring the long-term value and stability of the property.
This lease requires no landlord management or maintenance responsibilities and includes a corporate guarantee from Big Brand Tire Company. Big Brand Tires has been in operation for over twenty (20) years at this proven location, demonstrating strong performance as an auto service provider in the region.
The subject property comprises two contiguous parcels of land totaling approximately 18,730 square feet and includes a building of approximately 2,046 square feet.
South Lake Tahoe is characterized by high barriers to entry, with new development being virtually non-existent. This provides substantial protection of investment, ensuring the long-term value and stability of the property.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Auto Repair
Building Size
2,046 SF
Building Class
C
Year Built
1978
Price
$2,966,477 CAD
Price Per SF
$1,449.89 CAD
Cap Rate
6.24%
NOI
$185,179 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.43 AC
Opportunity Zone
Yes
Zoning
HDR - This property offers attractions for industrial investors, from stunning lake activities to convenient airport access and vibrant downtown amenities.
Parking
25 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
65’ on Sussex Avenue
Walk Score®
Very Walkable (75)
Bike Score®
Biker's Paradise (96)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $631,320 CAD | |
| Land Assessment | $345,921 CAD | Total Assessment | $977,240 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$345,921 CAD
Improvements Assessment
$631,320 CAD
Total Assessment
$977,240 CAD
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2614 Sussex Ave
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