Downtown Cloverdale Development
115 E 2nd, Cloverdale, CA 95425
Corner lot with development potential in Cloverdale's downtown district.
Type:Commercial
Property size:
4,800 SFLot size:
0.58 AcresPrice / SF:
$312/SF- Added:
- Mar 27, 2026
- Days on Market:
- 51
- Last Refresh:
- Mar 27 at 8:08 pm
Property Features for 115 E 2nd
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Lot size
- 0.58 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1955
Listing agent ERIK TERRERI
Listing office COMPASS 3953840
Listing date Mar 27, 2026
Source Corcoran
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of COMPASS
HighLights
- Prime downtown Cloverdale location on a highly visible corner lot at Main Street and 2nd Street.
- CITYCL zoning allows for flexible development options, including multi‑story (up to three stories) mixed‑use projects.
- Existing Quonset‑style structure is leased to Dahlia Sage Community Market through September 2028 with a three‑year renewal option, providing stable income.
- Potential to develop portions of the site while retaining the existing income‑producing structure.
- Located in Cloverdale's vibrant downtown, experiencing renewed economic growth and investment.
- Rare opportunity to acquire a strategic corner parcel in a charming and opportunity‑rich community.
Overview
Located in downtown Cloverdale, the property at 115 E 2nd Street is a corner development parcel situated at the intersection of Main Street and 2nd Street, one block from the historic downtown plaza. The property, zoned CITYCL (Central Commercial), allows for a range of uses and development flexibility, including multi-story development up to three stories. It is suited for a mixed-use project with ground-floor commercial space and residential units, or other commercial or residential configurations. A Quonset-style structure with a second story is currently on the 4,800 square foot lot, leased to Dahlia & Sage Community Market through September 2028, with a three-year renewal option. The existing structure may allow for ongoing rental income during the development process. The property offers the potential to develop portions of the site while retaining the existing structure. Cloverdale is experiencing economic energy and investment in its downtown corridor, with tourism, wineries, restaurants, arts programming, and community events centered around the downtown plaza.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$1.01M
NOI $91,048 @ 9.00% cap · cautious / downside scenario
Moderate
$1.30M
NOI $91,048 @ 7.00% cap · market / base-case scenario
Aggressive
$1.82M
NOI $91,048 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $126.7k | $26.40 |
| − Vacancy | −$5.3k | −$1.11 |
| EGI | $121.4k | $25.29 |
| − OpEx | −$30.3k | −$6.32 |
| NOI | $91.0k | $18.97 |
4,800 SF · lease $26.40/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,048 @ 7.0% cap · market cap 6.07%
Second Best
Mixed Use
$905.1K
$792.0K – $1.06M
NOI $63,360 @ 7.0% cap · market cap 4.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Cloverdale
- County
- Sonoma
- State
- California
- Longitude
- -123.0173172
- Latitude
- 38.8070513
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - Corner lot with development potential in Cloverdale's downtown district.
Where is this commercial land located?
The property is located at 115 E 2nd Cloverdale, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime downtown Cloverdale location on a highly visible corner lot at Main Street and 2nd Street.; CITYCL zoning allows for flexible development options, including multi‑story (up to three stories) mixed‑use projects.; Existing Quonset‑style structure is leased to Dahlia Sage Community Market through September 2028 with a three‑year renewal option, providing stable income.
