88 W Sierra Avenue
88 W Sierra Avenue Portola, California 96122 United States

$1,950,000
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This listing consists of two well established commercial properties located in Portola and Loyalton, CA and additional commercial land adjacent to the Portola building which serves as commercial storage and excess parking for the Portola Store....
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$1,950,000
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Price / Sq. Ft.:
$82
23,656 Sq Ft.
Interior
1.25 Acres
Exterior
Commercial
1993
Year Built
201800301
Web Id
201800301
MLS ID
Plumas Unified School District
School District
354
days ago

About 88 W Sierra Avenue

This listing consists of two well established commercial properties located in Portola and Loyalton, CA and additional commercial land adjacent to the Portola building which serves as commercial storage and excess parking for the Portola Store. The entire collection of properties are leased to a single tenant, that has been in place since buying the operating business in February 2014. Existing leases (3) run to February 2024 and tenant holds three additional 5 year options to extend. The leases are NNN and contain a base rent plus an annual CPI adjustment. Today the combined leases generate gross income of $205,000 and NET operating income to the landlord of $166,200 / year resulting in a 8.50% CAP rate. This is a commercial investment opportunity for a buyer that will provide stablized income from an established and experienced tenant. Both buildings are well maintained and are located in the city center of each location.

Listing Courtesy of REMAX MOUNTAIN LIVING,PLUMAS MLS