107 Bank Street

FOR SALE | 100% Occupied | Downtown Grass Valley Retail Building | In-Place 7.16% Cap Rate

Tucker Commercial is pleased to offer for sale 107 Bank Street, a 4,247 SF retail building located in the heart of downtown Grass Valley. The property is 100% occupied by Booktown Books, a cooperative of independent booksellers that has operated at this location for approximately 20 years.

A five-year Modified Net Lease was executed in January 2025, providing investors with a 7.16% going-in cap rate and scheduled 3% annual increases, resulting in a blended 7.43% average cap rate over the term (underwritten with a $4,000 annual expense assumption for landlord repairs and maintenance, inflating at 2% per year). Each member of the cooperative has personally guaranteed the lease, offering an uncommon level of credit strength and downside protection for ownership.

Constructed in 1922 on a 0.102-acre parcel, the building blends historic charm with striking architectural features. The ground-floor retail space showcases soaring 18-foot ceilings, dramatic true-dimension wood trusses, and exposed concrete walls that create a distinctive and highly desirable retail environment. The partial second story includes five private offices (sub-leased by Tenant), adding functional versatility to the space.

The property directly connects to the Union Square Municipal Parking Lot, the largest public parking facility in Grass Valley, and sits just steps from the newly renovated Mill Street Pedestrian Plaza, a walkable retail corridor that has become a centerpiece of the city’s revitalized downtown. Zoned Town Core, the site provides maximum flexibility for a broad range of commercial uses.

Location Highlights

Grass Valley’s historic downtown is the cultural and economic hub of Nevada County, serving as the primary retail, dining, and entertainment destination for the surrounding foothill communities. In recent years, the City of Grass Valley has made significant public investment in its downtown core with the creation of the Mill Street Pedestrian Plaza. Complementing this civic investment, the expansion and remodel of the Center for the Arts and the extensive renovation of the historic Holbrooke Hotel have further strengthened the vitality of downtown. These projects have transformed the downtown into a vibrant, walkable corridor, attracting new restaurants, boutique retailers, and service providers.

Just two blocks from the property, the Center for the Arts has become a regional draw, hosting nationally recognized concerts, performances, and community events that bring year-round foot traffic downtown. Grass Valley also benefits from its position as the gateway to the Sierra Nevada foothills and Lake Tahoe, balancing steady tourism with a stable local population base of more than 100,000 residents across Nevada County. The city is also a popular drive-to weekend getaway for Bay Area residents, with thousands flocking downtown each year for marquee community events such as Cornish Christmas and the Thursday Night Market.

This combination of historic charm, modern investment in infrastructure, and strong regional demand underpins the long-term stability and growth of downtown Grass Valley as the region’s premier retail and cultural hub.

107 Bank Street offers investors the rare combination of tenant longevity, collective personal guarantees, predictable rent growth through 3% annual increases, and an irreplaceable downtown Grass Valley location with direct adjacency to municipal parking and the newly revitalized Mill Street Pedestrian Plaza.

Highlights

Fully Leased Investment – 100% occupied by Booktown Books, a cooperative of independent booksellers operating at the location for ~20 years.
Attractive Returns – Five-year Modified Net Lease (signed Jan 2025) with a 7.16% going-in cap rate and scheduled 3% annual increases, averaging 7.43% over the term.
Strong Tenant Credit – Each member of the cooperative has provided a personal guarantee, offering rare credit strength and investor security.
Historic & Unique Building – Built in 1922 with 18-foot ceilings, exposed trusses, and partial second floor offices, blending architectural character with functional versatility.
Prime Downtown Location – Direct access to Union Square Municipal Parking Lot and steps from the Mill Street Pedestrian Plaza, Grass Valley’s revitalized retail hub.