Live-Work Property with Fenced
For Sale
$569,000
150 S Franklin Street, Fort Bragg, CA 95437
Bungalow, Other - Fort Bragg, CA
Property Size1,116 SF
Lot Size0.17 Acres
Price / SF$509.86
Days on Market65
Property Features for 150 S Franklin Street
General Information
Property type
Other
Property subtype
Mixed Use
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3
Parking features
None
View
None
Directions
Main Street East to Madrone 1 block, left on Franklin Street, 2nd house from corner, across from Cinema.
Standard status
Active
APN
0081650800
Size
1,116 SF
Lot size
0.17 Acres
Utilities
Heating system
Kerosene
Cooling system
None (Cooling)
Building Details
Year built
1911
Floors in Building
1
Roof type
Composition
Architectural style
Bungalow
Listing Agency:
Engel & Völkers Mendocino
(707) 937-5071
Listed By:
Claire Amanno
(707) 357-3574
Added: Jun 26
Changed: Jul 15
Last Checked: Aug 29 at 3:06PM
MLS# C1-11262
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
A multi-building live-work property offering flexible residential and office use. The main home is a Craftsman with three bedrooms and one bathroom. A separate 1-bedroom, 1-bath cottage includes its own address, and there is also a studio/office building with a bathroom, providing an additional standalone workspace option.
The property features a large fenced yard and a front gate for privacy. Views include sunset from the front porch, along with partial ocean views from the home and cottage. It is centrally located close to everyday amenities such as grocery stores, restaurants, schools, banks, medical offices, hospitals and clinics, retail, and entertainment venues, as well as downtown celebrations. Access is described as easy to Coastal Trails, The Skunk Train, and the Pacific Ocean.
The property features a large fenced yard and a front gate for privacy. Views include sunset from the front porch, along with partial ocean views from the home and cottage. It is centrally located close to everyday amenities such as grocery stores, restaurants, schools, banks, medical offices, hospitals and clinics, retail, and entertainment venues, as well as downtown celebrations. Access is described as easy to Coastal Trails, The Skunk Train, and the Pacific Ocean.
Key Highlights
- Three‑building property: 3‑bedroom, 1‑bath craftsman/Bungalow home plus a 1‑bedroom, 1‑bath cottage with separate address
- Additional studio/office building includes a bathroom
- Large fenced yard with a front gate for privacy
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
$16,201
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
2.85%
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%
$324,020
$324.0K
Cap Rate 7%
$231,443
$231.4K
Cap Rate 9%
$180,011
$180.0K
Market Conditions
NOI Build-Up for 1,116 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
$25.2K $22.56/SF
− Vacancy
−$3.6K −$3.20/SF
EGI
$21.6K $19.36/SF
− OpEx
−$5.4K −$4.84/SF
NOI
$16.2K $14.52/SF
Area
Mendocino County, CA
Vacancy
14.20%
Lease Rate
$22.56 /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%
$324,020
Cap Rate 7%
$231,443
Cap Rate 9%
$180,011
Alternative Uses
Best Use
Office B
$231.4K
$202.5K – $270.0K
NOI $16,201 @ 7.0% cap · market cap 2.85%
Second Best
Mixed Use
$193.7K
$169.5K – $226.0K
NOI $13,559 @ 7.0% cap · market cap 2.38%
Theoretical Best
Flex RnD
$417.2K
$365.1K – $486.8K
NOI $29,206 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
Business Placement
Demographics for 95437, CA
14,608
Population
7,654
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
86%
High-School Grad
177.4 sq mi
ZIP Area
82
Density / Sq Mi
$55,061
Median Household Income
$35,860
Median Earnings
$1,367
Median Rent
$541,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Three buildings on one lot: craftsman home, separate cottage, and studio/office with bathroom, plus fenced yard.
Where is this live-work space located?
The property is located at 150 S Franklin Street Fort Bragg, CA.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Three‑building property: 3‑bedroom, 1‑bath craftsman/Bungalow home plus a 1‑bedroom, 1‑bath cottage with separate address; Additional studio/office building includes a bathroom; Large fenced yard with a front gate for privacy
