Lake Tahoe Commercial Real Estate

Penniman Blg Fully Occupied, Triple Net TC-to-Dollar Hill Corridor Superb Building

Penniman Blg Fully Occupied, Triple Net TC-to-Dollar Hill Corridor Superb Building

This is one of the most successful, fully-occupied commercial buildings in North Lake Tahoe, just below Dollar Hill … with four quality tenants paying FMV rents and full triple net costs. Remodeled spaces with two granite fireplaces in lower suites. A newly-completed site plan is available. Parking lots in front and back. Nicely-landscaped. High-visibility signage.

Built in 1979 by current owner’s father

Total building area including stairway: 3144 square feet

Total leasable space:  2942 square feet

Current Lease Income and Expense:

Units 1 and 2:  $2222 x 10 =   22,220 Leased to Adventuresmith through October 2017

$2631 x 2 =      5,263             with increase to full rent plus 3% Nov. 1, 2016

Units 3 and 4:  $1439 x 12 =   17,268 Leased to High Sierra Water Lab through Dec 2018

Unit 5:  $693 x 12 =                    8,316            Leased to Evolve Design Works through July 2018

Unit 6:  $521. x 12 =                  6,252 Leased to Clearwater Facial through Sept. 2018

Total annual gross income:     $59,318   (includes NNN collections)

Total annual CAM:                   $21,030

 Net annual income (2106)      $38,289

Property Details

Priced at $649,000
3090 North Lake Blvd
Tahoe City, CA 96145

MLS#: 20162219
Square Feet: 3144
Current Use: Commercial Office Blg
Occupants: 4 tenants
Acres: .57
View: Street
Zoning: Mixed Use
Plan Area: Lake Forest
Parking Spaces: Two lots
ADA Status: unknown
BMP Status: Incomplete
Sewer Status: Pending
Loan Amt: n/a
Gross Income: 63,979
Expenses: 21500
Net Income: 42,979 (2017)
Year Built: 1978

Status: Active
Sub Status: