Building Details

Building Size 1,800 SF

Year Built 1982

Buildings 1

Stories 1

Listing Agency: HUNTER PRESTIGE PROPERTIES

Listed By: Julie Hunter Show Phone

Source: Hunterprestigeproperties

Added: Jan 16, 2025 Changed: Oct 26 Last Checked: Oct 26 at 3:51PM

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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 HUNTER PRESTIGE PROPERTIES

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Investment Insights

Based on property information with market context.

This 1,800-square-foot auto shop was built in 1982 and has three-phase power on site. The property is zoned Commercial, with automotive, welding, and fabrication work identified as possible business directions.

Key Highlights

• 1,800‑square‑foot building
• Three‑phase power on site
• Commercial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,910

Cap Rate

8.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$338,200 $338.2K

Cap Rate 7%

$241,571 $241.6K

Cap Rate 9%

$187,889 $187.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$25.9K $14.40/SF

− Vacancy

−$1.8K −$0.98/SF

EGI

$24.2K $13.42/SF

− OpEx

−$7.2K −$4.03/SF

NOI

$16.9K $9.39/SF

Area

Mendocino County, CA

Vacancy

6.80%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$338,200

Cap Rate 7%

$241,571

Cap Rate 9%

$187,889

Alternative Uses

Best Use

Industrial

$241.6K

$211.4K – $281.8K (±1% cap)

NOI $16,910 @ 7.0% cap · market cap 8.50%

Second Best

Retail

$50.4K

$44.1K – $58.8K (±1% cap)

NOI $3,526 @ 7.0% cap · market cap 1.77%

Theoretical Best

Flex RnD

$673.0K

$588.8K – $785.1K (±1% cap)

NOI $47,107 @ 7.0% cap · market cap 23.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Auto shops

Suggested Use

Top Pick Plumbing Service Building Supply Dental Office Kitchen & Bath Showroom Cafe & Coffee Shop Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

89

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 95428, CA

3,017

Population

1,306

Households

2.3

Avg Household Size

37

Median Age

13%

College-Educated

82%

High-School Grad

274.7 sq mi

ZIP Area

11

Density / Sq Mi

$44,286

Median Household Income

$24,836

Median Earnings

$913

Median Rent

$376,400

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Frequently Asked Questions

What type of property is this?

Auto shop - Commercial zoning and three-phase electrical service accompany space identified for automotive, welding, or fabrication work.

Where is this auto shop located?

The property is located at 76440 Covelo Road Covelo, CA.

What is the asking price?

The asking price for this property is $199,000.

What are key features of this property?

This property features: 1,800‑square‑foot building; Three‑phase power on site; Commercial zoning