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

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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