Historic Titus House
10382 Donner Pass Road · Downtown Truckee, California
Sale-Leaseback Offering · July 2026
Prepared for prospective purchaser review · via Ron Hemig, Sierra Sotheby's International Realty
The Building
- Café & pantry, bakery kitchen, two offices, detached shed — the food-and-beverage anchor of downtown Truckee's walkable core.
- Kitchen & pantry lease executed February 23, 2026 (5-year NNN) — the contracted use is already commercial kitchen and retail pantry.
- Supply-constrained market: no new mixed-use inventory on Donner Pass Road; Truckee's historic core.
Inside
Furnished and operating today — lounge, community table, and gathering space, with original woodwork throughout.
One walkable block
Guesthouse Lake Tahoe, Campus One: Horan House (Guest House 1) · the Historic Titus House — bakery & check-in · future guest houses up the hill — one walkable block of downtown Truckee, drawn as it lives.
Horan House today — the operating flagship one block up, 100% occupied. Photography: Eric Lundblad.
Pro Forma Rent Schedule
| Suite | Use | RSF | Rate | Monthly | Annual | Status |
|---|---|---|---|---|---|---|
| 1 + 1a | Café & Pantry + streetside | 979 +400 | $4.50/SF | $5,205.50 | $62,466 | Executed 2/23 · A&R eff 8/1 |
| 2 | Bakery kitchen · GH prep | 634 | $4.00/SF | $2,536.00 | $30,432 | Executed 2/23 · restated 8/1 |
| 3 | Office | 544 | $3.50/SF | $1,904.00 | $22,848 | Effective 8/1/26 |
| 4 | Office / retail · wellness | 1,061 | $3.50/SF | $3,713.50 | $44,562 | Eff 8/1/26 · substitution right |
| 5 | Storage / shed (bakery) | 182 | $1,000 flat | $1,000.00 | $12,000 | Eff 8/1/26 · rent validated |
| TOTAL | NNN · Guesthouse guarantee | 3,400 +400 | $14,359.00 | $172,308 |
Assumptions: all leases NNN; all tenant improvements (café, kitchen, bakery) tenant-funded — no landlord TI allowance, free rent, or capex; premises as-is. SF is rentable: usable 3,057 + common 343 = 3,400 SF (11.2% load), reconciled to the 2026 Colliers appraisal; 400 SF exterior seating additional. 5% vacancy factor retained for conservatism.
Basis & history: a prior rent roll certified to the current lender (May 2026) totaled $10,331/mo on office programming, usable SF, and draft leases. This schedule reflects the food-and-beverage repositioning at market kitchen rates, rentable-SF remeasurement, streetside seating, and Suite 5 rent validated by an arms-length tenancy through 7/31/26 — executed, Guesthouse-guaranteed leases effective 8/1/2026.
Lease Structure & Terms
Every lease is Guesthouse Hospitality Co. paper with a Guesthouse corporate guarantee — one credit to underwrite.
Café, kitchen, and bakery buildout funded by the tenant. No landlord TI, no free rent, no capex.
Kitchen & pantry lease executed 2/23/26 (5-yr NNN); the full lease set executed July 2026, effective 8/1/26.
Bakery operates via sublease (Suite 5 shed + 4 AM–noon kitchen window); Suite 4 carries a substitution right for a wellness tenant — the roll diversifies over time.
Guesthouse requests a ROFR on any future sale — costless to the purchaser at close.
Trevor Cornwell · trevor@guesthousecompany.com
Why the income is safe
- Contracted use since February — kitchen & pantry
- Arms-length rent proof on Suite 5
- Operator with two campuses and an operating flagship one block up
- Downtown Truckee: supply-constrained, walkable, year-round
