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124 Bank St 3,886 SF 100% Leased Retail Building Grass Valley, CA 95945 $895,000 ($230.31/SF) 6.02% Cap Rate
Investment Highlights
- Downtown Victorian in Grass Valley
- Middle Floor Office/Appt. Upper Level 1 Bedroom
- Lower Level Restaurant/12 Parking Spaces
Executive Summary
Step into timeless elegance with this exquisitely restored 3 story Victorian building ideally situated in the heart of Grass Valley's vibrant historic district. Built in 1891 & beautifully updated mixed use building sits on an 11,000 sf lot w/ 12 paved parking spaces & 700 sf covered garden dining area. Ground level has a 1,775 sf turnkey Restaurant w/ fully equipped commercial kitchen & a 600 sf basement. There is a beer/wine bar with quaint waiting area and 3 large Dining Rooms that can accommodate up to 70 customers. The 2nd floor is an expansive 1,400 sf Flex Space with 11' ceilings, including a private office, two private rooms/bedrooms, a large open central area w/ 1.5 bathrooms, a small kitchen and a large shared back view deck. Level 3 features a 650 sf, 1 Bedroom, 1 Bath Apartment plus a bonus room. The cute apartment includes numerous skylight and vaulted ceilings. This 1892 Victorian was completely renovated in 1992 & 2000, and has had many additional upgrades over the last 2 decades, including electrical, plumbing, HVAC systems & wood floors and windows. Located directly across from the areas largest hotel/convention center. Just one block from Hwy. 49 and a short stroll to downtown shops, wine bars & entertainment. Don't miss this opportunity to own one of Grass Valley's best commercial properties. All Units are currently rented under market value & are leased Month to Month, offering potential rental increases for a new owner.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$68,400
|
$17.60
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$68,400
|
$17.60
|
| Taxes |
$10,032
|
$2.58
|
| Operating Expenses |
$4,428
|
$1.14
|
| Total Expenses |
$14,460
|
$3.72
|
| Net Operating Income |
$53,940
|
$13.88
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $68,400 |
| Annual Per SF | $17.60 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $68,400 |
| Annual Per SF | $17.60 |
| Taxes | |
|---|---|
| Annual | $10,032 |
| Annual Per SF | $2.58 |
| Operating Expenses | |
|---|---|
| Annual | $4,428 |
| Annual Per SF | $1.14 |
| Total Expenses | |
|---|---|
| Annual | $14,460 |
| Annual Per SF | $3.72 |
| Net Operating Income | |
|---|---|
| Annual | $53,940 |
| Annual Per SF | $13.88 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
3,886 SF
Building Class
C
Year Built/Renovated
1891/2022
Price
$895,000
Price Per SF
$230.31
Cap Rate
6.02%
NOI
$53,879
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.36
Lot Size
0.25 AC
Zoning
Commercial/Residential - TC (Town Core)
Parking
12 Spaces (3.09 Spaces per 1,000 SF Leased)
Frontage
97’ on Bank Street
Amenities
- Corner Lot
- Courtyard
- Fenced Lot
- Restaurant
- Security System
- Signage
- Skylights
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Fiber Optic Internet
- Smoke Detector
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Alloro Cucina Italiana
- Retailer
- -
- -
- -
- Residential Tenant
- -
- 600 SF
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Alloro Cucina Italiana | Retailer | - | - | - | ||
| Residential Tenant | - | 600 SF | - | - |
Walk Score®
Walker's Paradise (93)
Nearby Major Retailers
Property Taxes
| Parcel Number | 008-348-008-000 | Total Assessment | $443,783 |
| Land Assessment | $94,049 | Annual Taxes | $10,032 ($2.58/SF) |
| Improvements Assessment | $349,734 | Tax Year | 2025 |
Property Taxes
Parcel Number
008-348-008-000
Land Assessment
$94,049
Improvements Assessment
$349,734
Total Assessment
$443,783
Annual Taxes
$10,032 ($2.58/SF)
Tax Year
2025
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Videos
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Photos
Street View
Street
Map
Presented by
Sierra Heritage Realty
124 Bank St
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