Nevada City Warehouse for rent

Warehouse Description

Nestled amidst the charming Gold Country town of Nevada City, 104 New Mohawk Road presents a prime opportunity for investors and owner-users seeking an enhanced below-market-price light industrial/R&D building. This 26,336-square-foot, 2-story structure, built in 1984, offers ample space for creative enhancements and leasing strategies. Currently, the ground floor remains vacant, while the upper level houses small start-ups on month-to-month leases, providing flexibility for future redevelopment. The Light Industrial (LI) zoning permits diverse uses, including potential cannabis operations. Nevada City's historic charm, thriving entrepreneurial scene, and proximity to Sacramento, Lake Tahoe, and the San Francisco Bay Area make it a desirable location. The projected capitalization rate is ~7.5%, with an operational cap rate of ~10.0% excluding external management, vacancy, and capital reserves.