Work From Home Paradise! – 2020 Q3 Review

Lock RichardsAs we continue to muddle through the last half of the soon-to-be infamous year of 2020, it is refreshing to receive a bit of good news for a change. In September, CNBC “Make It”, published a list of the top 10 small “Work-From-Home” cities in the United States, and they ranked the Grass Valley/Truckee micropolitan area (an area with a population between 10,000 – 500,000 people) as Number 1!

The CNBC report stated: “A precedence of remote working communities could also indicate solid city-wide infrastructure to support teleworking, such as reliable internet connectivity or proximity to rising, mid-size cities that boast more job opportunities. Truckee-Grass Valley is about an hour’s drive from Sacramento and three hours from San Francisco, for example.” While I would say our area still has a ways to go regarding internet connectivity, the beauty and convenience of the area is indeed hard to top.

Ironically, COVID19 could be the greatest economic boost Nevada County has received in the past 15 years. This pandemic, and the new reality of potential future pandemics, may permanently change perspectives and values regarding where people choose to live. Residential realtors can attest to the current massive urban flight to our area; and the County population which has stagnated at roughly 100,000 people since 2005 may finally increase. Improving demographics will bring economic growth which will ultimately benefit the local commercial real estate sector.

AVAILABLE FOR SALE - Q3 2020   
LocationSq. Ft.PricePrice/SF
Industrial
875 Idaho Maryland, Grass Valley4,320$599,000$138.66
Office
563 Brunswick Rd # 11, Grass Valley1,272$229,000$180.03
565 Brunswick Rd # 9, Grass Valley1,387$190,000$136.99
565 Brunswick Rd # 11, Grass Valley1,028$125,000$121.60
360 Crown Point Cir, Grass Valley20,542$3,700,000$180.12
964 Golden Gate Ter, Grass Valley5,740$825,000$143.73
13421 Grass Valley Ave, Grass Valley13,136$1,395,000$106.20
13100 Grass Valley Ave, Grass Valley30,600$2,795,000$91.34
1784 E Main St, Grass Valley907$398,000$438.81
900 E Main St, Grass Valley23,137$3,699,500$159.90
734 Maltman Drive, Grass Valley2,000$349,000$174.50
2344 & 2352 Nevada City Hwy, Grass Valley3,212$450,000$140.10
104 New Mohawk Rd, Nevada City26,336$2,500,000$94.93
Medical/Dental
565 Brunswick Rd # 1, Grass Valley1,075$250,000$232.56
152 Catherine Ln., Suite E & F, Grass Valley1,393$95,000$68.20
300 Sierra College Dr #250, Grass Valley1,740$635,000$364.94
300 Sierra College Dr #165, Grass Valley4,787$1,578,000$302.90
Retail
210 Broad St, Nevada City21,675$2,000,000$92.27
311 Broad St, Nevada City1,320$495,000$375.00
312 Broad St, Nevada City5,155$835,000$161.98
315 Broad St, Nevada City4,979$1,350,000$271.14
425 Broad St, Nevada City560$399,000$712.50
231 - 233 Colfax Ave, Grass Valley4,440$890,000$200.45
104 E Main St, Grass Valley1,387$411,000$296.32
106 E Main St, Grass Valley4,240$1,350,000$318.40
124 E Main St, Grass Valley5,480$650,000$118.61
840 E Main St, Grass Valley28,706$4,550,000$158.50
123 Mill St, Grass Valley5,000$795,000$159.00
131 - 137 Olympia Park Rd, Grass Valley5,808$1,400,000$241.05
314 Railroad Ave, Grass Valley3,000$1,185,000$395.00
102 - 108 Union St, Nevada City14,000$3,200,000$228.57
504 Whiting St, Grass Valley4,972$569,000$114.44
203 York St, Nevada City3,265$975,000$298.62

AVAILABLE FOR LEASE Q3 2020   
LocationSq. Ft.Min Base Price/SFMax Base Price/SF
Industrial
410 Crown Point Cir, Grass Valley7,104$0.63$0.63
13046 Loma Rica Dr, Grass Valley2,400$0.60$0.60
13185 Nevada City Ave, Grass Valley1,900$0.65$0.65
810 Whispering Pines Ln, Grass Valley5,097$1.10$1.10
819 Whispering Pines Ln, Grass Valley3,375$0.75$0.75
Office
131 S Auburn St, Grass Valley921$1.51$1.51
605 S Auburn St, Grass Valley5,463$1.35$1.45
375 Brunswick Rd, Grass Valley5,798$1.28$1.28
464-458 Brunswick Rd, Grass Valley4,506$1.58$1.88
512 - 528 Brunswick Rd, Grass Valley1,440$1.30$1.30
563 Brunswick Rd # 9, Grass Valley1,015$1.35$1.35
124 Clydesdale Ct, Grass Valley7,352$0.75$0.75
254 Colfax Ave, Grass Valley1,500$0.86$0.86
428 Colfax Ave, Grass Valley1,154$1.20$1.20
333 Crown Point Cir, Grass Valley7,925$1.70$1.70
350 Crown Point Cir, Grass Valley6,469$1.55$1.55
355 Crown Point Cir, Grass Valley4,800$0.60$0.60
360 Crown Point Cir, Grass Valley9,603$1.39$1.49
488 Crown Point Cir, Grass Valley5,168$1.60$1.80
149 Crown Point Ct #3 & 4, Grass Valley728 – 1,161$1.25$1.25
964 Golden Gate Ter, Grass Valley3,040$0.85$0.85
13100 Grass Valley Ave, Grass Valley3,600$0.75$0.75
200 Litton Dr, Grass Valley3,000$1.40$1.40
224 Main St, Nevada City1,400$1.50$1.70
1740 - 1744 E Main St, Grass Valley2,728$1.40$1.40
640 E Main St, Grass Valley3,033$0.70$0.70
900 E Main St, Grass Valley5,755$1.63$2.09
970 E Main St, Grass Valley1,150$1.35$1.35
944 - 1020 McCourtney Rd, Grass Valley5,639$1.68$1.68
117 New Mohawk Rd, Nevada City1,625$1.30$1.30
138 New Mohawk Rd, Nevada City5,700$2.25$2.25
205 - 207 N Pine St, Nevada City1,250$1.48$1.48
101 - 208 Providence Mine Rd, Nevada City9,210-17,605$1.55$1.55
310 Providence Mine Rd, Nevada City15,089$1.75$1.75
400 Providence Mine Rd, Nevada City72,110$0.95$0.95
305 Railroad Ave, Nevada City1,500$1.55$1.55
313 Railroad Ave, Nevada City1,469$1.35$1.35
420 Sierra College Dr, Grass Valley1,750$2.20$2.20
143 Spring Hill Dr Ste 2, Grass Valley5,082$1.08$1.08
426 Sutton Way, Grass Valley850$1.41$1.41
908 Taylorville Rd, Grass Valley2,904$1.66$1.66
1415 Whispering Pines Ln, Grass Valley15,357$0.60$0.90
Medical/Dental
563 Brunswick Rd # 5, Grass Valley1,473$1.55$1.55
152 Catherine Ln., Suite E & F, Grass Valley1,393$0.86$0.86
123 Margaret Ln, Grass Valley2,700$1.40$1.40
113 Presley Way, Grass Valley1,100$0.86$0.86
Retail
10052 Alta Sierra Dr, Grass Valley1,510$1.05$1.05
114 Argall Way, Nevada City1,160$0.84$0.84
650 Freeman Ln, Grass Valley22,146$1.95$2.95
130 Joerschke Dr, Grass Valley800$1.30$1.30
131-139 Joerschke Dr, Grass Valley3,928$1.10$1.20
840 E Main St, Grass Valley11,727$1.60$1.60
116 W Main St, Grass Valley841$1.21$1.21
633 - 653 Maltman Dr, Grass Valley4,200$0.63$1.11
111 W McKnight Way, Grass Valley10,580$2.06$2.06
2032 - 2118 Nevada City Hwy, Grass Valley7,250$1.76$1.76
984 Plaza Dr, Grass Valley6,300$1.30$1.30
521 Searls Ave, Nevada City6,250$1.00$1.00
1035-1043 Sutton Way, Grass Valley1,890$1.50$1.50
399-471 Sutton Way, Grass Valley2,285$1.60$1.60
102 - 108 Union St, Nevada City1,873$1.65$1.65

RECENT TRANSACTIONS - Q3 2020   
LocationSq. Ft.Sale/LeaseClose Date
371 Railroad Ave, Grass Valley3,740Sold8/5/2020
139 B Joerschke Dr, Grass Valley972Leased8/6/2020
13242 Grass Valley Ave #22-24, Grass Valley4,074Sold8/11/2020
675 S Auburn St, Grass Valley1,690Sold8/24/2020
11978 Charles Dr, Grass Valley2,500Sold8/31/2020
306 Broad St, Nevada City975Leased8/31/2020
114 A & B New Mohawk, Nevada City2,550Leased9/17/2020

Subscribe to Commercial Property Review

Commercial Property Review sample

Stay on top of the market. Get breaking news and data for the Nevada County commercial real estate market as soon as it's published. These FREE quarterly reports detail local commercial lease rates, vacancies, sales prices & volume, recent transactions and more!

Subscribe Now