100 Union Street
Nevada City, CA, 95959
$
3,100,000
Bedrooms--
Baths--
Sq
10,630
Monthly Estimate*
$
19,087
for $3,100,000. This 10,630 square foot building was built in 2008 on a lot size of 0.19.
100 Union St is a 10,630 SF mixed-use asset situated in the heart of historic downtown Nevada City, California. The property is 100% occupied, generating in-place net operating income of $172,134 at a 5.53% going-in capitalization rate, with a projected 6.01% Year 1 cap as contractual rent increases take effect and near-term leases roll to market. Built in 2008, 100 Union St is the newest building in a downtown whose architectural fabric dates to the California Gold Rush. It blends seamlessly into the Victorian streetscape while delivering a level of functionality that no comparable building in the submarket can replicate: proper storefront depths, modern mechanical systems, a passenger elevator, and secured subgrade parking for seven vehicles. Downtown Nevada City has zero remaining developable land. This asset is effectively irreplaceable. The ground floor is anchored by two established, high-traffic restaurant operators: Nourish, a popular sushi restaurant, and Taqueria Taco Loco, a popular taqueria, both featuring outdoor dining in addition to interior seating, activating the streetscape and driving consistent foot traffic to the property. The full rent roll comprises nine tenants across three income streams: three ground-floor retail suites, four professional office suites ranging from 779 to 1,873 SF, and two one-bedroom residential apartments. No single tenant exceeds 18.3% of NRA. In-place rents of $2.10/SF/Mo sit approximately 13% below the weighted average market rent of $2.42/SF/Mo, and a WALT of 1.81 years positions a new owner for near-term mark-to-market across the majority of the rent roll. The property features extremely strong contractual rent growth, as an example, American Rivers (Suite 116, 1,873 SF, and the property's largest tenant) carries a 46.5% aggregate rent increase through October 2028, and portfolio-wide NOI is projected to grow 21.8% from Year 0 to Year 3 through escalations and near-term rollover repricing to market. 100 Union St represents a generational opportunity to acquire a trophy asset in the heart of one of California's most celebrated historic downtowns, with strong in-place income and a clear path for sustained NOI growth and value creation.
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Features
General
Sewer
Public Sewer
Heating
See Remarks
Cooling
See Remarks
Utilities
Sewer Connected
Roof
See Remarks
Construction Materials
See Remarks
Year Built
2008
Electric
Separate Electric Meter
Tenant Pays
See Remarks
Stories Count
0
Property Subtype
Mixed Use
Current Use
Residential
Retail
Mixed Use
Office
Location
See Remarks
Business Type
Commercial
Restaurant
Other
Building Name
The Griggs Building
County
Nevada
Property Type
Commercial Sale
Building Features
See Remarks
Close Price
0.0
Status
Active
Directions
CA-49 N
exit Broad St and turn left
turn right on Union Ave. CA-20 W
exit Coyote St and turn left
continue onto Union St. CA-49 S
turn right on Coyote St
continue onto Union St.
City
Nevada City
Zoning Description
GB HD SC
Number Of Units Total
9
MLS Area
13106
Lot Size Square Feet
8276.0
Standard Status
Active
Year Built Source
Assessor Agent-Fill
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Interior
Flooring
See Remarks
0
Office Area
0
Total Stories
0
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Exterior
Parking Features
Underground
See Remarks
Water Source
Public
Total Parking
0.0
Number of Buildings
0
Building Area Total
10630.0
Lot Size Acres
0.19
Lot Size Source
Assessor Agent-Fill
Parking Ratio
0.0
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* Excluded Features
Affordability Calculator
- Monthly Principal & Interest
- $19,087
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
Commerical listings in Nevada City, CA
Average List Price
$1,609,364
Percent of Sale Price
48%
About Nevada City, CA
18,157
Population
9%
Since 2002
$
60,289
Median Income
52.82
Median Age
16%
Households with Children
Trends Information provided by ATTOM Data Solutions.
295416
Elementary School
295437
Middle School
Unknown High School
High School
Pricing History
| Date |
Price |
Price Change |
Description |
|
4/22/2026
|
$3,100,000
|
|
Listed Price
|