Historic Office Building with Living
For Sale
$595,000
156 Center Street, Auburn, CA 95603
Zoned C-2, this two-story building includes a full kitchen and bath living unit plus parking with side access to the rear.
Property Size2,182 SF
Price / SF$272.69
Days on Market468
Property Features for 156 Center Street
General Information
Standard status
Active
Size
2,182 SF
Property subtype
Office
Zoning
C-2
Additional Details
Multifamily Units
1
Amenities
Central Air
3
C-2
4 Parking Spaces.
Building Details
Year Built
1923
Listing Agency:
Coldwell Banker Realty
5999338
Listed By:
Dean Howell · License #00982650
5999338
Source:
Xome
Added: Apr 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:04AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This historic, classic-style office building presents a distinctive mix of work and live space. The property includes a living unit with a full kitchen and bath, and it was previously used as the owner’s main office, taking advantage of the building’s character. There is also a separate entrance for the 2nd story, which provides flexibility for how the upper level can be used.
A key operational feature is the onsite parking with side access to the rear of the property, supporting convenient arrivals and straightforward access around the building.
Zoned C-2, the property offers an interesting configuration for an owner-operator or a buyer looking for a building that can accommodate more than one function under one roof.
A key operational feature is the onsite parking with side access to the rear of the property, supporting convenient arrivals and straightforward access around the building.
Zoned C-2, the property offers an interesting configuration for an owner-operator or a buyer looking for a building that can accommodate more than one function under one roof.
Key Highlights
- Zoned C‑2: two‑story building with classic historical character (built in 1923).
- Includes a living unit with a full kitchen and bath in addition to the main building space.
- On‑site parking with 4 parking spaces, with side access to the rear of the property.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,874
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$997,480
$997.5K
Cap Rate 7%
$712,486
$712.5K
Cap Rate 9%
$554,156
$554.2K
Market Conditions
NOI Build-Up for 2,182 SF
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.
Gross rent
$77.5K $35.52/SF
− Vacancy
−$11.0K −$5.04/SF
EGI
$66.5K $30.48/SF
− OpEx
−$16.6K −$7.62/SF
NOI
$49.9K $22.86/SF
Area
Placer County, CA
Vacancy
14.20%
Lease Rate
$35.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$997,480
Cap Rate 7%
$712,486
Cap Rate 9%
$554,156
Alternative Uses
Best Use
Office B
$712.5K
$623.4K – $831.2K
NOI $49,874 @ 7.0% cap · market cap 8.38%
Second Best
Mixed Use
$473.4K
$414.2K – $552.3K
NOI $33,139 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$844.7K
$739.1K – $985.5K
NOI $59,130 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,824
Businesses Nearby
Explore this area
Business Placement
Demographics for 95603, CA
28,021
Population
12,538
Households
2.2
Avg Household Size
49
Median Age
33%
College-Educated
92%
High-School Grad
35.8 sq mi
ZIP Area
783
Density / Sq Mi
$80,851
Median Household Income
$44,207
Median Earnings
$1,451
Median Rent
$613,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Zoned C-2, this two-story building includes a full kitchen and bath living unit plus parking with side access to the rear.
Where is this live-work space located?
The property is located at 156 Center Street Auburn, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Zoned C‑2: two‑story building with classic historical character (built in 1923).; Includes a living unit with a full kitchen and bath in addition to the main building space.; On‑site parking with 4 parking spaces, with side access to the rear of the property.
