Great Commercial Values | Lake Tahoe
Happy New Year!
The Lake Tahoe and Truckee real estate market closed 2020 with record-breaking sales activity. We are beginning 2021 with only 250 listings, representing only a few weeks of supply. We expect home values to continue trending upward as demand far exceeds supply.
Some of our most notable milestones included 2350 sales, which is 33% higher than the previous record selling year of 2017. The region closed over $2.7 billion in sales volume, with an average sales price of $1.1 million, a 25% increase over 2019.
As available inventory for residential homes has diminished, we are also witnessing the sale of lots that have been on the market for years. Additionally, buyers are migrating into the surrounding areas north of Truckee, such as Serene Lakes, Loyalton and Sierra County.
One area where great values can still be found is in the Lake Tahoe commercial real estate market. One listing, on Bear Street in Kings Beach includes adjacent living space. There will probably never be a better time to invest in Lake Tahoe commercial real estate, and below, are a few North Shore listings that offer great values:
This is a great opportunity to own an 8 room hotel, adjacent to Lake Tahoe's secluded Secline Beach. This boutique hotel is located in Kings Beach, and boasts updated finishes. Most rooms have stunning views of Lake Tahoe. The property comes with three buoys available for registration with adjacent caretaker's cottage! Owner is offering this property turnkey with furnishings and client list. $2,790,000
The former La Petite Pier restaurant is available as a lakefront property with panoramic views, and offers more than 71' feet of frontage. It provides a blank slate for development with spectacular views and an excellent location. With two available buoys, this listing is a great opportunity to build your amazing dream home in an iconic location at the heart of Tahoe Vista. $2,200,000
This Kings Beach property provides a unique opportunity because of its many allowable uses. Zoned light industrial, you can mix living space, office space, warehouse space, and configure it to suit your unique needs. A two story building is ready to break ground, with 1927 sf on the street level that can be used as industrial or commercial space. The upper floor offers 1722 sf, which is set up as a 2 bedroom, 2 bath, and large living room/3rd bedroom living space. Parking and storage space is available as well. Excellent location, blocks to Lake Tahoe and next to trail system! $1,850,000
This Lake Tahoe north shore commercial property is currently used to make custom cabinetry and other fine woodworking. Located in the Tahoe Vista commercial/industrial sub-district, Allows for a wide variety of commercial opportunities. Shop equipment is also available for purchase, CNC, dust collector, spray-booth, generator, and more. $1,600,000
Right on N. Lake Blvd, these two buildings on one parcel could make a great "campus" for your business in the future and an investment now. Extremely visible from the street, just across from the Safeway parking lot entrance. Also includes to boot vacant parcel of approximately 97,154 sq.ft. just to the north with APN:094-124-013-000. $1,300,000
Also in Kings Beach, this very large industrial building is located in the industrial corridor of Specked Ave. Previous tenant operated a plumbing and sheet metal company (annual rent 50K). Utilities include three phase electric, new 4" water service ($50,000 expense + $40,000 entitlement fee). All steel framing with heavy duty truss system and 4 ton hoist. The property comes with industrial compressor system and piping throughout the building, with hard wired welder, hot water and high pressure system. Entry/office includes bathroom & shower stall. $840,000
All of the above listings are located close to the lake, and each provides something unique. It is easy to see why my Bear Street listing provides such great value for the price. If you are interested in buying residential or commercial real estate at Lake Tahoe, contact me today!