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1st Floor - Unit 2-3
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Industrial
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5,508 SF
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$795,000 USD
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Unit Size: 5,508 SF
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Condo Use: Industrial
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Price: $795,000 USD
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Sale Type: Owner User
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Price/SF: $144.34 USD
Description
Coldwell Banker Commercial G. R. is pleased to present 110 Springhill Drive, Units 2–3, a 5,508 SF industrial condominium fully leased to Dignity Health/CommonSpirit (S&P: A-), offered at $795,000 ($144/SF). Located in the heart of Grass Valley, this well-positioned asset provides investment-grade cash flow with a 6.52% in-place cap rate as of October 1, 2025.
Property Highlights:
Tenant: Dignity Health has occupied the space for nearly 20 years.
Lease: Dignity early exercised their three-year renewal option showing commitment to the site.
Lease Features: 3% annual increases, plus an additional three-year renewal option.
Space: ~2,000 SF warehouse; ~3,800 SF two-story office with mission-critical build-out.
Landlord Responsibility: Minimal – tenant handles all interior maintenance; OA manages exterior components (roof, shell, parking, landscaping, utilities, hazard insurance). OA dues: $0.37/SF per quarter.
This property offers long-term, credit-worthy tenancy, stable income growth, and low management requirements, making it an ideal passive industrial investment. Competitive seller financing is available with approved financials. Opportunities like this — in a supply-constrained Northern California market with investment-grade tenant security — are extremely rare.
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1st Floor - Unit 4-5
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Industrial
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3,952 SF
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$605,000 USD
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Unit Size: 3,952 SF
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Condo Use: Industrial
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Price: $605,000 USD
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Sale Type: Owner User
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Price/SF: $153.09 USD
Description
Coldwell Banker Commercial Grass Roots Realty is pleased to offer 110 Springhill Drive, Units 4–5 for sale. This 3,952± SF industrial condominium represents an excellent opportunity for an owner-user seeking quality space within the city limits of Grass Valley, CA. Zoned M-1, the property accommodates a broad range of light industrial, manufacturing, and service uses.
The space is fully sprinklered and features 18’ clear height, a 12’ x 12’ roll-up door, one small office, and a private restroom—an efficient layout for operational flexibility. The project is professionally managed by the Owners Association, which maintains the roof, parking lot, and landscaping, and provides hazard insurance. OA dues are $0.37/SF per quarter. A new roof was installed approximately five years ago, and the property benefits from full city utilities (water, sewer & gas).
Competitive seller financing is available with approved credit.
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1st Floor - Unit 8-9
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Industrial
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3,952 SF
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$575,000 USD
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Unit Size: 3,952 SF
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Condo Use: Industrial
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Price: $575,000 USD
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Sale Type: Owner User
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Price/SF: $145.50 USD
Description
Coldwell Banker Commercial Grass Roots Realty is pleased to present an outstanding owner-user opportunity at 110 Springhill Drive, Units 8–9, totaling 3,952± SF within a professionally maintained 43,000± SF industrial condominium project in the city limits of Grass Valley, CA. Zoned M-1, the property supports a wide range of industrial and service-based uses.
Originally constructed in 1989 for Mountain People’s Warehouse (now UNFI), the project is one of the few industrial condominium developments in Grass Valley with full city utility service. The subject units feature a bank of exterior offices with a structural mezzanine above, a private restroom, 18’ clear height, and a 12’ x 12’ roll-up door—ideal for manufacturing, warehousing, light industrial, or service-oriented operations.
The building is fully sprinklered, professionally managed, and benefits from a roof replacement completed approximately five years ago. The Owners Association maintains the roof, parking lot, landscaping, and provides hazard insurance. Current OA dues are $0.37/SF per quarter.
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1st Floor - Unit 14-17
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Industrial
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7,500 SF
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$1,200,000 USD
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Unit Size: 7,500 SF
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Condo Use: Industrial
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Price: $1,200,000 USD
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Sale Type: Owner User
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Price/SF: $160.00 USD
Description
Coldwell Banker Commercial Grass Roots Realty is pleased to present 110 Spring Hill Drive, Units 14–17, a rare opportunity to acquire a recently renovated and heavily improved ±7,500 SF industrial condominium located within the city limits of Grass Valley, offering full city utilities and minimal maintenance responsibilities.
This premium corner unit consists of four legal parcels within a professionally managed industrial complex. Extensively renovated in 2020–2021, the property is currently occupied by a brewery and features a well-balanced mix of ±1,800 SF of high-quality, two-story office space and ±5,700 SF of 18’ clear height warehouse. The office buildout includes a reception area, a lab, a large conference/open work area, two restrooms (one per floor), and private offices with an additional conference room upstairs. High-end finishes and luxury vinyl plank flooring are used throughout the office spaces, providing a clean, professional environment.
The warehouse is equally well-appointed for industrial use, with two existing grade-level doors (and a framed cutout for a third), 300 amps of three-phase power, upgraded LED lighting, full insulation, and substantial infrastructure improvements. These include extensive water lines, compressed air distribution, and multiple floor drains—features that make the space particularly well-suited for food and beverage production, light manufacturing, fabrication, or other industrial operations that require enhanced mechanical, plumbing, and utility capacity.
Ownership within the industrial condo project offers significant operational benefits. The owners association maintains the roof, structure, exterior, parking lot, and water/sewer service, as well as provides building envelope insurance, minimizing day-to-day maintenance burdens for an owner-user. Quarterly dues are $3,526.76, and the project received a new TPO membrane roof in 2021.
The existing lease extends through July 31, 2026, providing a buyer the opportunity to collect rent during the interim period while planning for future occupancy. The location ensures proximity to the region’s primary commercial and industrial corridors.
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Tyson Tucker
Coldwell Banker Commercial Grass Roots