Multi-Tenant Commercial Property with Stable Income, Rare Well, and Development Flexibility.
Positioned on a prominent half-acre parcel within South Lake Tahoe’s Tahoe Valley Area Plan, this three-building commercial property offers long-term tenancy, strong income, and future upside. Currently occupied by two stable tenants across retail, industrial, and storage uses, the site also includes a rare private well, offering significant utility cost savings.
The primary structure is approximately 3,895 square feet and occupied by Pet Station, a well-established regional retailer. The lower level is dedicated to their pet supply storefront, while the second floor includes dog wash bays, private offices, storage, and a full bathroom—allowing for flexible future use as office, grooming, professional services, or potential wellness operations. As part of their lease, Pet Station also utilizes a detached 536-square-foot storage building on the property.
The second tenant, a commercial laundry operator, occupies a 1,116-square-foot structure ideal for service-based or light industrial use. Extensive on-site parking supports all tenants, with ample room for customers, staff, or future delivery and fleet vehicles.
Located within the Tahoe Valley Area Plan (TVAP), the property benefits from zoning that supports a broad range of uses including general retail, office, industrial services, light manufacturing, and mixed-use development. TVAP also streamlines the permitting process and encourages reinvestment, adaptive reuse, and improved pedestrian access along commercial corridors.
With existing leases in place, the property delivers a solid 5.8% cap rate, offering immediate income stability and long-term investment potential. Future rent adjustments and development flexibility provide additional upside for investors or owner-users.
This is a rare opportunity to acquire a well-located, multi-building income property with strong fundamentals, essential infrastructure, and embedded growth potential in a high-barrier-to-entry market.
INVESTMENT HIGHLIGHTS
– Lake Tahoe Blvd Frontage Long-term main tenant, Pet Station, occupies a versatile 3,895 SF two-story retail and service space.
– Additional industrial/service building leased to a laundry company with stable tenancy.
– Prime commercial property with three buildings on a spacious half-acre lot.
– Rare on-site well provides significant utility cost savings.
– Located in the Tahoe Valley area, benefiting from City of South Lake Tahoe’s supportive commercial zoning and development plan.
