Flex Space with Warehouse and Loading
For Sale
$490,000
16345 Main St, Lower Lake, CA 95457
Flex space on Main Street with a storefront building, attached warehouse, and two loading bays for receiving and distribution.
Property Size2,640 SF
Price / SF$185.61
Days on Market16
Property Features for 16345 Main St
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Commercial
Additional Details
Warehouse Space
2,520 SF
Building Details
Building Size
2,640 SF
Year Built
1985
Listing Agency:
Navigate Real Estate
(707) 921-8250
Listed By:
Rochelle M Costello · License #02229414
(707) 921-8250
Source:
Elliman
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 12 at 9:23AM
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 Navigate Real Estate
Investment Insights
Based on property information with market context.
This flex space property combines a storefront main building with an attached warehouse and multiple storage areas, offering flexible space for retail, office, or other commercial uses. The main building includes a bedroom with a mini split and its own attached full bathroom, plus two additional half baths. It also features a full kitchen and ample storage throughout. An attached warehouse space includes two convenient loading bays and provides substantial enclosed storage, along with additional enclosed and semi-enclosed storage areas. A 1,152 sq ft pole barn adds further storage capacity.
Located at 16345 Main St in Lower Lake, the property offers approximately 140 feet of Main Street frontage for visibility in the historic business district.
Built in 1985, this offering includes 2,640 sq ft of storefront main building space and approximately 2,520 sq ft of attached warehouse space. Buyer to verify intended uses, sizes, permits, and the legality of existing structures, as well as zoning requirements with the Lake County Community Development Department.
Located at 16345 Main St in Lower Lake, the property offers approximately 140 feet of Main Street frontage for visibility in the historic business district.
Built in 1985, this offering includes 2,640 sq ft of storefront main building space and approximately 2,520 sq ft of attached warehouse space. Buyer to verify intended uses, sizes, permits, and the legality of existing structures, as well as zoning requirements with the Lake County Community Development Department.
Key Highlights
- Approximately 140 feet of Main Street frontage on Main St in Lower Lake
- 2,640 sq ft storefront main building with full kitchen, bedroom, and bathrooms
- Attached warehouse space with two loading bays for receiving and distribution
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
$32,717
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
6.68%
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%
$654,340
$654.3K
Cap Rate 7%
$467,386
$467.4K
Cap Rate 9%
$363,522
$363.5K
Market Conditions
NOI Build-Up for 2,640 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
$48.8K $18.48/SF
− Vacancy
−$2.0K −$0.78/SF
EGI
$46.7K $17.70/SF
− OpEx
−$14.0K −$5.31/SF
NOI
$32.7K $12.39/SF
Area
Lake County, CA
Vacancy
4.20%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
30.00%
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%
$654,340
Cap Rate 7%
$467,386
Cap Rate 9%
$363,522
Alternative Uses
Best Use
Retail
$467.4K
$409.0K – $545.3K
NOI $32,717 @ 7.0% cap · market cap 6.68%
Second Best
Flex RnD
$425.8K
$372.6K – $496.8K
NOI $29,809 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$1.06M
$927.1K – $1.24M
NOI $74,171 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95457, CA
3,231
Population
1,801
Households
1.8
Avg Household Size
47
Median Age
22%
College-Educated
88%
High-School Grad
147.9 sq mi
ZIP Area
22
Density / Sq Mi
$52,266
Median Household Income
$32,839
Median Earnings
$1,078
Median Rent
$414,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space on Main Street with a storefront building, attached warehouse, and two loading bays for receiving and distribution.
Where is this flex space located?
The property is located at 16345 Main St Lower Lake, CA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Approximately 140 feet of Main Street frontage on Main St in Lower Lake; 2,640 sq ft storefront main building with full kitchen, bedroom, and bathrooms; Attached warehouse space with two loading bays for receiving and distribution
