Middletown Commercial Property on
For Sale
$875,000
21130 Calistoga Rd, Middletown, CA 95461
Commercial property with metal building, offices, and bare lot.
Property Size13,000 SF
Lot Size0.09 Acres
Price / SF$208.33
Days on Market166
Property Features for 21130 Calistoga Rd
General Information
Standard status
Active
Size
13,000 SF
Lot size
0.09 Acres
Property subtype
Commercial
Building Details
Building Size
13,000 SF
Year Built
1936
Listing Agency:
RE/MAX Gold Lake County
(707) 696-3415
Listed By:
Cynthia Smith · License #01341797
(707) 696-3415
Source:
Elliman
Added: Mar 10
Changed: Aug 21
Last Checked: Aug 21 at 10:48AM
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 RE/MAX Gold Lake County
Investment Insights
Based on property information with market context.
This commercial property is located on the main street of Middletown. It features a large metal building, originally a dairy distribution center, along with two rental offices and a commercial bare lot, all situated on Highway 29 in downtown Middletown. The 4,200 square foot metal building is accompanied by a 9,583 square foot lot, suitable for parking, expansion, or other outdoor amenities. The property is equipped with three-phase power. Additionally, there are two detached office spaces in good condition, which are currently rented out. This property offers potential for growth and development.
Key Highlights
- Prime location on Main Street in downtown Middletown
- Large 4,200 sqft metal building with a 9,583 sqft lot
- Includes two additional rental office spaces
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
$34,490
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
3.94%
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%
$689,800
$689.8K
Cap Rate 7%
$492,714
$492.7K
Cap Rate 9%
$383,222
$383.2K
Market Conditions
NOI Build-Up for 4,200 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
$52.4K $12.48/SF
− Vacancy
−$3.1K −$0.75/SF
EGI
$49.3K $11.73/SF
− OpEx
−$14.8K −$3.52/SF
NOI
$34.5K $8.21/SF
Area
Lake County, CA
Vacancy
6.00%
Lease Rate
$12.48 /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%
$689,800
Cap Rate 7%
$492,714
Cap Rate 9%
$383,222
Alternative Uses
Best Use
Office B
$1.26M
$1.11M – $1.47M
NOI $88,438 @ 7.0% cap · market cap 10.11%
Second Best
Industrial
$492.7K
$431.1K – $574.8K
NOI $34,490 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$1.69M
$1.47M – $1.97M
NOI $117,999 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95461, CA
2,689
Population
1,646
Households
1.6
Avg Household Size
48
Median Age
24%
College-Educated
84%
High-School Grad
123.3 sq mi
ZIP Area
22
Density / Sq Mi
$81,830
Median Household Income
$40,308
Median Earnings
$2,192
Median Rent
$385,000
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?
Warehouse - Commercial property with metal building, offices, and bare lot.
Where is this warehouse located?
The property is located at 21130 Calistoga Rd Middletown, CA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Prime location on Main Street in downtown Middletown; Large 4,200 sqft metal building with a 9,583 sqft lot; Includes two additional rental office spaces
