2 Locations

Tucker Commercial is pleased to present Main St. Professional Center, an 11,468 SF medical and professional office campus on a 1.12-acre parcel located directly across the street from Sierra Nevada Memorial Hospital (Dignity Health) — the only acute-treatment hospital serving western Nevada County. The property is 100% leased across ten suites to nine tenants and is offered at $1,595,000 ($139/SF), an 8.00% going-in cap rate on in-place income.

Comprising three free-standing buildings, the campus is anchored by a ~70% medical rent roll drawn to the trade area's only acute-care facility for referral flow and physician proximity. With an average suite size of ~1,043 SF, Main St. Professional Center is ideally sized to capture demand from western Nevada County's deep market of small professional and sole-practitioner medical users — a segment with limited competing supply.

The offering pairs an exceptionally strong going-in yield with clear value-add upside. Weighted-average in-place rent sits roughly 8.3% below market and ~28% below the medical rents being achieved one street over on Catherine and Margaret Lane. Approximately 75% of in-place revenue (seven of ten suites) is on month-to-month tenancy, allowing a new owner to mark rents to market immediately, reposition suites to capture premium medical rents, convert leases to NNN, or owner-occupy. The remaining ~25% of revenue is contractually termed — including a newly executed 5-year lease (through May 2031) — providing a stable cash-flow base while the rest of the rent roll is repositioned.

Grass Valley is the commercial, retail and healthcare hub of western Nevada County in the Sierra foothills, ~60 miles northeast of Sacramento via Highway 49. East Main Street is the primary commercial corridor linking the historic downtown to the Hwy 49/20 interchange, and constrained foothill land with slow entitlement continues to limit new commercial supply.