100 Union Street

Nevada City, CA95959

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.

Listing courtesy of Tucker Commercial



All measurements and all calculations of the area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify the accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data maintained by MetroList® may not reflect all real estate activity in the market. All real estate content on this site is subject to the Federal Fair Housing Act of 1968, as amended, which makes it illegal to advertise any preference, limitation or discrimination because of race, color, religion, sex, handicap, family status or national origin or an intention to make any such preference, limitation or discrimination. Terms of Use
Last checked 2026-06-09 03:50 PM PDT