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Tahoe Keys Village 589-595 Tahoe Keys Blvd 34,652 SF Office Building South Lake Tahoe, CA 96150 $9,199,845 CAD ($265.49 CAD/SF) 5% Cap Rate
Investment Highlights
- New Drainage, Hardscape, and Landscaping
- Large and Level 5.97+- Acre Site
- Potential for Redevelopment in the Future
- 14 Boat Slips in Adjacent Marina
- All Leases on a NNN Service Basis
- Beautiful Location at Waters Edge with Gorgeous Northern Views
Executive Summary
Attractively Priced and First Time Available for Sale in Over 40 Years! Rare opportunity to purchase a mixed-use office/retail complex within the Tahoe Keys community of South Lake Tahoe. Tahoe Keys Village was originally built as a retail and office development spread between six buildings situated on almost six acres of land. The location is irreplaceable in today's market at the water's edge with beautiful views of the adjacent marina, Lake Tahoe and mountains to the northwest. Over the past couple of years numerous improvements have been made to the property including improved drainage, new hardscape, landscaping, parking lot resurfacing, and new exterior paint on all of the buildings. Many of the tenants have been long term and all of the leases have been converted to a triple-net service basis which is a hedge against inflation. The property has had increased absorption over the past six months with approximately 7,020 square feet leased which has boosted the occupancy level to 70%.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
34,652 SF
Building Class
B
Year Built
1975
Price
$9,199,845 CAD
Price Per SF
$265.49 CAD
Cap Rate
5%
NOI
$459,811 CAD
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
17,326 SF
Building FAR
0.13
Lot Size
5.97 AC
Zoning
TRPA - Tahoe Regional Planning Agency
Parking
162 Spaces (4.68 Spaces per 1,000 SF Leased)
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Property Taxes
| Parcel Number | 022-210-030-000 | Improvements Assessment | $3,798,928 CAD |
| Land Assessment | $1,145,892 CAD | Total Assessment | $4,944,820 CAD |
Property Taxes
Parcel Number
022-210-030-000
Land Assessment
$1,145,892 CAD
Improvements Assessment
$3,798,928 CAD
Total Assessment
$4,944,820 CAD
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Tahoe Keys Village | 589-595 Tahoe Keys Blvd
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