Coldwell Banker Commercial Grass Roots is pleased to present a build-to-suit/ground lease opportunity in the most sought-after retail location in western Nevada County. 142-158 Olympia Park Dr., (the “Site or Olympia Park”) is comprised of two legal parcels totaling 1.87 acres of prime developable land located in the Brunswick Basin of Grass Valley, CA, which serves as the main commerce area for a population base of over 100,000 people spread across several municipalities and unincorporated areas of western Nevada County. The Site is zoned C-2 (see below link the City of Grass Valley Development Code) and features approx. 475 feet of direct freeway frontage on Hwy 49/20 with an ADT of over 30,000 cars per day.
Olympia Park is situated on the southwest side of the Brunswick Road offramp, which is the only under-developed side of the freeway, with grocery anchored centers and free-standing drug stores/national tenants on the southeast, northwest, and northeast side of the off ramp (see below photo). The topography of the area along with the geographic constraints creates a high barrier to entry for new commercial developments which has resulted in a supply constrained market and extremely high performing retailers, i.e., the highest performing Grocery Outlet in Northern CA and third highest performing Safeway in Northern CA per Placer.AI. Olympia Park represents the best developable site in the Brunswick Basin for a user between 10,000 – 25,000 SF (higher density for hospitality of mixed-use developments) due to its size, in-place utilities, and favorable zoning. Potential uses encompass retail, mixed-use retail, medical office, and hospitality amongst many other. The Site is currently comprised of 5 buildings which total 9,535 SF with short term leases allowing for a relatively quick development process.
