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    3700 Country Club Drive Lucerne, CA 95458

    View on Map
    For Sale
    $2,995,000

    Commercial Sale - Lucerne, CA

    Property size:
    53,000 SF
    Lot size:
    7.00 Acres
    Added:
    May 14, 2023
    Days on Market:
    1053
    Last Refresh:
    Mar 31 at 5:06 pm

    Property Features for 3700 Country Club Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Interior features
    Elevators, Living Quarters
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    034182040000
    Size
    53,000 SF
    Lot size
    7.00 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1928
    Architectural style
    Other

    We can help!

    Listing Contact
    Timothy Toye
    Timothy Toye

    Listing agent Timothy Toye License #01182874

    Listing office Timothy Toye and Associates 16360 Hwy. 175, COBB, CA

    Listing date May 14, 2023

    MLS# LC23083319 Listing URL

    Copyright © 2026 Lake County Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Landmark Resort Hotel Building

    This historic landmark resort hotel building is located near the shore of Clear Lake and offers panoramic views. Situated on over 7 acres comprising 9 parcels, the building spans 53,000 square feet. The partially remodeled and restored castle features a grand lobby, four floors, seven conference or classrooms, and four commercial bathrooms, all fully remodeled. A commercial kitchen offers significant potential for remodeling. The property includes 66 bedrooms, each with bathrooms and closets. A spiral staircase leads to two large tower offices. This unique investment opportunity presents possibilities for various uses, including an educational or research facility, retreat center, corporate campus, nursing home, or museum.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    New Paradigm College University

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Hair Salon Pharmacy Auto Repair Shop Accounting Firm Daycare Center Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lucerne
    County
    Lake
    State
    California
    Longitude
    -122.78922
    Latitude
    39.087845

    Nearby Similar for Sale

    • $350,000
      2,000 SF

      Lucerne Commercial/Residential Investment Opportunity

      Commercial property with residence in high-traffic Lucerne location.
      6000 E Highway 20, Lucerne, CA 95458
      View Details
    • $180,000
      1,144 SF

      Lucerne Commercial Property For Sale

      Commercial property for sale in Lucerne, CA with upgrades.
      6320 Highway 20 E, Lucerne, CA 95458
      View Details
    • $2,995,000
      53,000 SF

      Historic Landmark Resort Hotel Building

      Historic 53,000 SF resort hotel with panoramic views.
      3700 Country Club Dr, Lucerne, CA 95458
      View Details
    • $58,000

      Lakeside Home in All-Ages Park

      Home in pet-friendly park with lake views and owner financing.
      5877 Lake St 8, Lucerne, CA 95458
      View Details

    FAQs

    What type of property is this?
    Hotel - Partially remodeled 53,000 SF resort hotel on 7+ acres.
    Where is this hotel located?
    The property is located at 3700 Country Club Drive Lucerne, CA.
    What is the asking price?
    The asking price for this property is $2,995,000.
    What are key features of this property?
    This property features: Historic landmark resort hotel with panoramic views on 7+ acres near Clear Lake.; Partially remodeled and restored 53,000 sq ft castle featuring a grand lobby and spiral staircase.; 66 bedrooms each with bathrooms and closets.
    (707) 928-5912
    We can help!
    Listing Contact
    Timothy Toye
    Timothy Toye
    Real Estate License ID: 01182874
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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