Listed by Tucker Commercial
$2,800,000
Cedar Ridge Y
Details
APN 012-040-067-000 & 012-010-059-000
Property Type Retail
Sub Type Restaurant, Storefront
Square Footage 29,645
Units 13
Cap Rate 9.09%
Occupancy 100%
Tenancy Multi
Lease Type Modified
Price per SqFt $94
Class B
Year Built 1962
Buildings 3
Acreage 10.680
Zoning C-1, Ag10, BP
Investment Type Stabilized
29,645 SF Multi-Tenant Retail Strip | 9.09% Cap Rate on In Place Income | $2,800,000 | 10.68 Acres
Marketing description
Tucker Commercial is pleased to present The Cedar Ridge Y, a fully leased ±29,645 SF multi-tenant retail strip center in Grass Valley, CA. Priced at $2,800,000 ($94.95/SF) with an in-place cap rate of 9.09%, this stabilized investment includes three retail buildings on ±6.49 acres and an adjacent ±4.23-acre Business Park-zoned parcel offering future development potential.
The center consists of 13 suites with a diverse mix of restaurant, bar, automotive, and retail tenants. Anchor tenants include Soulful Kitchen (new 5-year lease), Uncle Sonny’s Bar, and Tom’s Car Care. No tenant contributes more than 15% of the total income, providing strong cash flow diversification.
Rents average $0.99/SF gross, significantly below market, creating upside through lease-up and repositioning. Several leases are MTM or near-term, offering operational flexibility.
Located on State Route 174 with 750+ feet of frontage (AADT: 6,830), the property enjoys excellent visibility and access in a low-vacancy, supply-constrained market. Grass Valley is the commercial center of western Nevada County, serving a regional trade area of 90,000+ residents.
This offering combines steady in-place income, value-add potential, and future development upside—a rare opportunity under $100/SF in Northern California.
Investment highlights
- 100% Leased | 13-Suite Retail Center
- ±29,645 SF across three buildings with a mix of restaurant, bar, automotive, and general retail tenants.
- Attractive In-Place Yield
- Offered at $2,800,000 with an NOI of ±$254,500, equating to a 9.09% cap rate.
- Diversified Rent Roll
- No tenant contributes more than 15% of total income, reducing credit risk and enhancing cash flow stability.
- Below-Market Rents | Embedded Upside
- Current average rent at $0.99/SF gross presents near-term mark-to-market potential through re-leasing or repositioning.
- Additional ±4.23-Acre Development Parcel
- Adjacent BP-zoned land ideal for self-storage or other commercial development (Use Permit required).
- High Visibility & Access
- Over 750 feet of frontage on State Route 174 (AADT: 6,830), a major regional connector.
- Growing Trade Area | Supply-Constrained Market
- Grass Valley anchors western Nevada County’s economy wit
Listing Contacts
Listed by Tucker Commercial
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Zoning
AG-10 AgricultureGeneral Agricultural
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