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110 Spring Hill Dr - Spring Hill Industrial Condos 3,952 - 5,508 SF Industrial Condo Units Offered at $575,000 - $795,000 Per Unit in Grass Valley, CA 95945
INVESTMENT HIGHLIGHTS
- M-1 zoning in city limits of Grass Valley
- favorable OA costs
- low office buildout
EXECUTIVE SUMMARY
Coldwell Banker Commercial Grass Roots Realty is proud to present an excellent industrial investment opportunity at 110 Springhill Drive, Units 8-9. This 3,952 SF industrial condo is situated in a well-maintained 43,000 SF project within the city limits of Grass Valley, CA. Zoned M-1, the space offers flexible use potential for a variety of industrial operations. Built in 1989 for Mountain People’s Warehouse (now UNFI), this complex remains one of the few industrial condominium projects in Grass Valley with full access to city utilities. The unit features an office, one restroom, 18’ clear height, and a 12’x12’ roll-up door, making it ideal for manufacturing, storage, light industrial use, or a service-based business. The property is fully sprinklered, professionally managed, and benefits from a newer roof installed approximately two years ago. The Owners Association (OA) handles hazard insurance, parking lot maintenance, roof, and landscaping. OA fees are $0.37/SF/quarter.
PROPERTY FACTS
AMENITIES
- Fenced Lot
- Skylights
- Yard
UTILITIES
- Gas - Natural
- Water - City
- Sewer - City
3 UNITS AVAILABLE
Unit 2-3
| Unit Size | 5,508 SF | Cap Rate | 6.52% |
| Price | $795,000 | NOI | $51,834 |
| Price Per SF | $144.34 | No. Parking Spaces | 15 |
| Condo Use | Industrial | APN/Parcel ID | 009-720-027, 009-720-028 |
| Sale Type | Investment |
| Unit Size | 5,508 SF |
| Price | $795,000 |
| Price Per SF | $144.34 |
| Condo Use | Industrial |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| NOI | $51,834 |
| No. Parking Spaces | 15 |
| APN/Parcel ID | 009-720-027, 009-720-028 |
DESCRIPTION
Coldwell Banker Commercial Grass Roots is pleased to present 110 Springhill Drive, Units 2–3 — a 5,508 square foot industrial condominium 100% leased to Dignity Health/CommonSpirit, an investment-grade tenant (S&P: A-), offered at $795,000 ($144/SF). This well-located asset in the heart of Grass Valley offers durable in-place cash flow with a projected 6.52% cap rate as of October 1, 2025, and long-term tenancy supported by strong credit and a mission-critical build-out.
Dignity Health has occupied the premises for nearly 20 years, using it as a regional ambulatory staging and rest facility. The tenant has invested heavily into the space, which includes approximately 2,000 square feet of warehouse and 3,800 square feet of two-story office. Dignity recently early exercised its latest three-year renewal option — structured at fair market value — resulting in a scheduled rent increase from $3,959.06/month to $5,728.32/month effective October 1, 2025. The lease includes 3% annual increases and an additional three-year option to renew at fair market value, ensuring built-in rental growth and long-term income stability.
The offering represents a passive industrial investment with minimal landlord responsibility. The tenant is responsible for all interior repairs and maintenance, while the owners association (OA) manages all exterior components, including roof, building shell, parking lot, landscaping, water/sewer, and hazard insurance. HOA dues are currently $0.37/SF per quarter, and the entire complex received a new roof approximately four years ago. The landlord’s sole obligations are limited to property taxes and OA dues.
110 Springhill Drive is part of a professionally managed, 43,000 square foot industrial condominium complex originally developed in 1989 for Mountain People’s Warehouse (now UNFI). It is one of the few industrial condo projects in Grass Valley with full city utilities, grade-level loading, and fire sprinklers throughout.
With long-term occupancy, strong credit tenancy, stable income growth, low maintenance requirements, and competitive seller financing available with approved financials, this offering presents an extremely rare opportunity to acquire a high-quality, stabilized industrial asset, with investment grade credit in a supply-constrained Northern California market.
+43 More
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Unit 4-5
| Unit Size | 3,952 SF | Condo Use | Industrial |
| Price | $605,000 | Sale Type | Owner User |
| Price Per SF | $153.09 | APN/Parcel ID | 009-720-029, 009-720-030 |
| Unit Size | 3,952 SF |
| Price | $605,000 |
| Price Per SF | $153.09 |
| Condo Use | Industrial |
| Sale Type | Owner User |
| APN/Parcel ID | 009-720-029, 009-720-030 |
DESCRIPTION
Coldwell Banker Commercial Grass Roots is pleased to present for sale 110 Springhill Units 4-5. The offering represents a fantastic opportunity to acquire a 3,952 SF, M-1 Zoned industrial condo located within city limits of Grass Valley, CA. The property is fully sprinklered, features 18' clear height and has a 12'x12' roll up door. The buildout is ideal for industrial users with one small office and one bathroom. The project's OA is professionally managed and a new roof was installed around 2 years ago. OA fees ($.26/SF/quarter) cover hazard insurance, parking lot, roof, etc. OA fees currently include a $.13/SF/quarter surcharge for a new roof that was installed a couple of years ago, OA fees will decrease by $.13/SF/quarter once the roof is paid off. The property is on all city utilities (water & sewer). Units 4-5 are adjacent to units 6-5 which are also on the market and could easily be joined together to create 7,900 SF.
COMPETITIVE SELLER FINANCING TERMS AVAILABLE WITH CREDIT APPROVAL.
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Unit 8-9
| Unit Size | 3,952 SF | Condo Use | Industrial |
| Price | $575,000 | Sale Type | Investment or Owner User |
| Price Per SF | $145.50 |
| Unit Size | 3,952 SF |
| Price | $575,000 |
| Price Per SF | $145.50 |
| Condo Use | Industrial |
| Sale Type | Investment or Owner User |
DESCRIPTION
Coldwell Banker Commercial Grass Roots Realty is proud to present an excellent industrial investment opportunity at 110 Springhill Drive, Units 8-9. This 3,952 SF industrial condo is situated in a well-maintained 43,000 SF project within the city limits of Grass Valley, CA. Zoned M-1, the space offers flexible use potential for a variety of industrial operations.
Built in 1989 for Mountain People’s Warehouse (now UNFI), this complex remains one of the few industrial condominium projects in Grass Valley with full access to city utilities. The unit features an office, one restroom, 18’ clear height, and a 12’x12’ roll-up door, making it ideal for manufacturing, storage, light industrial use, or a service-based business.
The property is fully sprinklered, professionally managed, and benefits from a newer roof installed approximately two years ago. The Owners Association (OA) handles hazard insurance, parking lot maintenance, roof, and landscaping. OA fees are $0.37/SF/quarter.
SALE NOTES
Fully Improved Industrial Condo: 3,952 SF with 18’ clear height, 12'x12' roll-up door, office, and restroom.
Prime Grass Valley Location: Within city limits and one of the few industrial condo projects connected to all city utilities (water & sewer).
Turnkey Infrastructure: Fully sprinklered and roof replaced ~2 years ago.
Professionally Managed OA: Low fees ($0.37/SF/quarter) including roof, parking, hazard insurance, and common area maintenance.
Zoned M-1: Ideal for manufacturing, distribution, storage, or service industries.
Established Industrial Park: 43,000 SF project built for UNFI with multiple grade-level access points.
+18 More
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110 Spring Hill Dr - Spring Hill Industrial Condos
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