3441 Spruce Avenue, South Lake Tahoe, CA 96150 | Listings

3441 Spruce Avenue, South Lake Tahoe, CA 96150

  • $950,000
  • 4,550 sq ft
  • Year Built: 1977
  • Commercial
  • Listing #129975

Property Description

Outstanding investor property that is perfect for the passive investor looking for a favorable rate of return PLUS a 1-acre contiguous vacant parcel included in the package price--TRPA records show 30% coverage allowed. The licensed lessee operates approx 150 child care facilities in California serving over 20,000 children. The lease is an ABSOLUTE triple net lease so the lessee is responsible for all expenses and maintenance. Monthly lease amount of $4438.13 is NET to the owner ($53,258 annual). The existing lease runs through 4/30/2030 for great long term income security. Back out the value of the adjoining vacant 1-acre parcel and this investment opportunity delivers a cap rate in the mid 6's. This building was designed and built in 1977 to be a child care facility and has operated as such since new. Perfectly situated for this purpose adjacent to the Bijou Elementary School and adjoining soccer fields.

Listing Details

Price$950,000
Year Built1977
Property TypeCommercial
Listing #129975
StatusActive
CountyEl Dorado
Listing TypeFor Sale

Interior Features

Square Feet4,550
FloorsOther/See Remarks
Heating and CoolingNatural Gas

Exterior Features

ExteriorWood Frame
FoundationConcrete Slab
Lot Size0.75 acres

Miscellaneous

MLS AreaBijou 1

Courtesy of Douglas Rosner, Chase International South Tahoe Realty

South Tahoe AORCopyright 2018, South Tahoe Association of Realtors. All rights reserved. The data relating to real estate for sale on this website is deemed reliable but not guaranteed.
This content last updated on 10/18/2018 12:23 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

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