233 Broad St

Investment Highlights

Seller owns coffee shop and will sign long term lease beginning at $10,000/month Third floor available for multiple potential uses Exposed brick walls Extensive remodel recently completed Heavy foot traffic in desirable downtown location

Executive Summary

Prime corner location on the Main Street through beautiful Nevada City. Second floor is a fully furnished as a short-term rental with several suites. Third floor may be available for multiple possible uses, including office, hospitality, residential, etc., and includes rough plumbing, fire sprinklers, & ducted HVAC system. Each floor plate is approximately 4,000 sf. 2nd floor remodel includes: Fire Sprinklers throughout, Mini split HVAC in all rooms, Finish Electrical, Finish Plumbing and commercial grade hot water heater, Fire alarm throughout, All new flooring (carpet, laminate, tile), All new room entrance doors with e-locksets, All new paint, Dropped T-grid ceiling, New lighting throughout, Laundry room for housekeepers including 2 washers and 2 dryers, Refurbished exterior windows replaced with tempered glass, TV?s in each room with wi-fi throughout, All new furniture in hotel conveys, New roof in Dec 2021.Constructed in 1856, the "Flagg Building" stands as a testament to Nevada City's rich history. A plaque adorning its entrance tells the story:The Flagg BuildingThe Eternal SaloonThis brick edifice, erected on the site of the U.S. Hotel, has been an integral part of Nevada City since its inception. Originally serving as the Council Chamber, it later became known as Schreiber's, where Felix's marvelous music box delighted generations with Strauss waltzes and 'Carmen,' accompanied by custom and good cheer. The Flagg Building is a proud contributor to the Nevada City Downtown Historic District, which was added to the National Register of Historic Places in 1985. Eddy's (Schrieber's Corner) stands as one of Nevada City's oldest structures. Though it underwent changes over the years, the essence of its character remains unchanged. The exterior restoration aimed to faithfully recreate the building's appearance as captured in a 1915 photograph.The second story, once a residential hotel, was transformed into bed short term rentals. Its distinct Italian Renaissance style is evident in the tall, narrow window openings adorned with arched caps, along with original iron shutters. The robust cornice line, supported by sturdy brackets and crowned by a pedimented gable, adds to the building's architectural charm.Nestled in the foothills of the Sierra Nevada Mountains, Nevada City is a vibrant town offering a plethora of amenities within easy reach of the San Francisco Bay Area, Sacramento, and Lake Tahoe. Its Victorian-era architecture, illuminated by gas street lamps, sets a charming backdrop for a diverse array of experiences, from art galleries and gourmet restaurants to cozy coffee shops and local artisanal flair. The subject property is situated in the heart of the historic downtown district on 233 Broad St.Rich in cultural offerings, Nevada County boasts nationally acclaimed events such as the Nevada City Film Festival, Wild and Scenic Film Festival, Sierra Storytelling Festival, CA Worldfest, CA Bluegrass Festival, and the Nevada City Classic Bicycle Race. Serving as the county seat and home to notable institutions like the Tahoe National Forest headquarters, KVMR radio, South Yuba River Citizens League, and Music in the Mountains, Nevada City is a thriving community hub.Visitors flock to downtown festivities such as Victorian Christmas, Hot Summer Nights, Constitution Day Parade, Joe Cain Mardi Gras Festival, and the local Farmer?s Market, culminating in a quintessentially American 4th of July Parade.The surrounding natural beauty beckons outdoor enthusiasts with opportunities for mountain biking, horseback riding, hiking, swimming, boating, and skiing. The nearby Yuba River, with its picturesque granite boulders framing inviting swimming holes of crystal-clear water, offers a refreshing escape. Just a short distance away, within the breathtaking expanse of the Tahoe National Forest, lies a stunning array of lakes and rivers, forming the serene "lake country" nestled amidst the majestic Sierra Nevada Mountains.

• Sale Type    Investment or Owner User
• Property Type    Retail
• Property Subtype    Restaurant Restaurant Office Industrial Live Work Unit Restaurant
• Building Size    10,000
• Building Class    B
• Year Built    1856
• Price    4,000,000
• Price Per SF    400
• Percent Leased    100
• Tenancy    Multiple
• Building Height    3 Stories
• Slab To Slab    15?
• Building FAR    2.09
• Land Acres    0.11 AC

• Restaurant
• Security System
• Tenant Controlled HVAC
• Air Conditioning