Historic Mixed-Use Income
1241 Broadway Ave, Atwater, CA 95301
Renovated mixed-use property with residential and commercial income.
Type:Multifamily, Retail
Property size:
8,000 SFPrice / SF:
$149/SF- Added:
- Feb 17, 2026
- Days on Market:
- 93
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 1241 Broadway Ave
General Information
- Standard status
- Active
- Size
- 8,000 SF
- Property subtype
- Multifamily, Retail
Listing agent Andy Le License #CA 02110117
Listing office First Commercial Real Estate
Listing date Feb 17, 2026
Source Crexi
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 First Commercial Real Estate
HighLights
- Stabilized, income‑producing asset with both residential and commercial cash flow.
- Four recently renovated residential units (three 2‑bedroom/1‑bath, one studio/1‑bath) providing multifamily income.
- Ground‑floor commercial space occupied by Furniture One, ensuring stable retail tenancy.
- Located in Atwater's revitalizing downtown district on a high‑visibility corridor.
- Beautifully renovated historic building.
- Positioned among a vibrant collection of established retail businesses.
Overview
The Creighton Hotel, situated at 1241/1231 Broadway Avenue in downtown Atwater, is a renovated historic mixed-use property. The upper level includes four recently renovated residential units: three 2-bedroom/1-bath units and one studio/1-bath unit, providing multifamily income. The ground-floor commercial space is occupied by Furniture One, offering retail tenancy and street presence. Located along a high-visibility corridor within Atwater’s revitalizing downtown district, this 8,000 square foot property offers a stabilized, income-producing opportunity supported by residential and commercial cash flow.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.08M
NOI $97,310 @ 9.00% cap · cautious / downside scenario
Moderate
$1.39M
NOI $97,310 @ 7.00% cap · market / base-case scenario
Aggressive
$1.95M
NOI $97,310 @ 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 Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $186.2k | $23.28 |
| − Vacancy | −$9.3k | −$1.16 |
| EGI | $176.9k | $22.12 |
| − OpEx | −$79.6k | −$9.95 |
| NOI | $97.3k | $12.16 |
8,000 SF · lease $23.28/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.39M
$1.22M – $1.62M
NOI $97,310 @ 7.0% cap · market cap 8.12%
Second Best
Mixed Use
$803.1K
$702.8K – $937.0K
NOI $56,220 @ 7.0% cap · market cap 4.69%
Theoretical Best
Healthcare Medical
$1.77M
$1.54M – $2.06M
NOI $123,552 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Furniture One
Furniture & Home Goods
Location Insight
- Map
- Local Demand
- City
- Atwater
- County
- Merced
- State
- California
- Longitude
- -120.609179
- Latitude
- 37.347005
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Renovated mixed-use property with residential and commercial income.
Where is this mixed-use property located?
The property is located at 1241 Broadway Ave Atwater, CA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Stabilized, income‑producing asset with both residential and commercial cash flow.; Four recently renovated residential units (three 2‑bedroom/1‑bath, one studio/1‑bath) providing multifamily income.; Ground‑floor commercial space occupied by Furniture One, ensuring stable retail tenancy.
