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The Union 464 Sutton Way 19,496 SF 100% Leased Office Building Grass Valley, CA 95945 $2,475,000 ($126.95/SF) 8.80% Cap Rate
INVESTMENT HIGHLIGHTS
- Upcoming vacancy of ±13,814 SF offers value-add lease-up potential or owner-user occupation.
- Flexible Use: Ideal for an owner-user seeking a high-profile location with income support, or for an investor pursuing a value-add lease-up strategy.
- Significant visibility, 46 on-site parking spaces, loading dock, and expansion potential on adjacent parcel
- Conservative pro forma rents below market ($1.00/SF NNN office, $0.75/SF NNN warehouse).
- Approved condominium tentative map allows future phased sell-off or customized owner-user configuration.
EXECUTIVE SUMMARY
Coldwell Banker Commercial Grass Roots Realty is pleased to present 464 & 468 Sutton Way, a rare owner-user or investment opportunity in Grass Valley’s Brunswick Basin, the dominant trade area for Western Nevada County. The property totals ±19,496 square feet across two parcels, including a ±1.01-acre lot at 292 W. Olympia Park Circle. Current tenancy includes 1849 Brewing Company (±5,682 SF), providing stable in-place income, while The Union Newspaper (±13,814 SF) will vacate at the end of 2025, creating the opportunity to control a large contiguous block of office and warehouse space in one of the market’s most visible commercial corridors.
For an owner-user, the property offers an attractive cost basis, excellent visibility along Sutton Way, a functional mix of office and warehouse with 46 parking spaces, and additional development capacity on the Olympia Park parcel. For investors, the deal provides stable cash flow with significant upside through re-tenanting at conservative market rents, with underwriting supporting an 8.8% stabilized return on cost. In addition, an approved condominium tentative map introduces the option for a phased sell-off or break-up strategy, unlocking pricing premiums from smaller users and investors. High barriers to entry, limited land availability, and elevated construction costs further reinforce the long-term investment thesis.
See Data Room to access Offering Memorandum.
For an owner-user, the property offers an attractive cost basis, excellent visibility along Sutton Way, a functional mix of office and warehouse with 46 parking spaces, and additional development capacity on the Olympia Park parcel. For investors, the deal provides stable cash flow with significant upside through re-tenanting at conservative market rents, with underwriting supporting an 8.8% stabilized return on cost. In addition, an approved condominium tentative map introduces the option for a phased sell-off or break-up strategy, unlocking pricing premiums from smaller users and investors. High barriers to entry, limited land availability, and elevated construction costs further reinforce the long-term investment thesis.
See Data Room to access Offering Memorandum.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
19,496 SF
Building Class
C
Year Built
1979
Price
$2,475,000
Price Per SF
$126.95
Cap Rate
8.80%
NOI
$217,800
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
19,496 SF
Building FAR
0.19
Lot Size
2.39 AC
Opportunity Zone
Yes
Zoning
C-2
Parking
46 Spaces (2.36 Spaces per 1,000 SF Leased)
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The Union | 464 Sutton Way
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