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Tahoe Keys Village 589-595 Tahoe Keys Blvd 34,652 sq ft Office Property South Lake Tahoe, CA 96150 £4,972,657 (£143.50/sq ft) 5% Net Initial Yield
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
Property Size
34,652 sq ft
Costar Property Class
B
Year Built
1975
Price
£4,972,657
Price per sq ft
£143.50
Yield
5%
NOI
£248,535
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
17,326 sq ft
Plot ratio
0.13
Total Plot Size
5.97 ac
Use Class
TRPA - Tahoe Regional Planning Agency
Parking
162 Spaces (4.68 Spaces per 1,000 sq ft Leased)
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 022-210-030-000 | Improvements Assessment | £2,078,759 |
| Land Assessment | £627,028 | Total Assessment | £2,705,787 |
Property Taxes
Parcel Number
022-210-030-000
Land Assessment
£627,028
Improvements Assessment
£2,078,759
Total Assessment
£2,705,787
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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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