Mixed-Use Property with
For Sale
Contact for pricing
21298 Calistoga Road, Middletown, CA 95461
C-2 zoning, public water, public sewer, and a well support the property’s commercial configuration.
Property Size2,600 SF
Price / SF$190.38
Days on Market61
Property Features for 21298 Calistoga Road
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
10
Property subtype
Retail, Office, Mixed Use
Zoning
C2
Building Details
Buildings
4
Stories
1
Units
2
Listing Agency:
Evans Realty
(707) 994-4219
Listed By:
Kathryn Evans · License #01516315
Source:
Crexi
Added: Jul 1
Changed: Aug 30
Last Checked: Aug 30 at 11:10AM
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 Evans Realty
Investment Insights
Based on property information with market context.
This mixed-use property at 21298 Calistoga Road includes a commercial building with three rooms, a laundry room, and a bathroom equipped with a stall shower. The space has previously accommodated a beauty salon, office use, and retail operations. A two-bedroom, two-bath double-wide mobile home is positioned behind the commercial structure.
The approximately 0.69-acre parcel extends from street to street along Highway 29 at the edge of Middletown. Convenient parking, large shade trees, and a small olive grove are located on the property. The site is zoned C-2 and has public water, public sewer, and a well.
The approximately 0.69-acre parcel extends from street to street along Highway 29 at the edge of Middletown. Convenient parking, large shade trees, and a small olive grove are located on the property. The site is zoned C-2 and has public water, public sewer, and a well.
Key Highlights
- Highway 29 frontage at 21298 Calistoga Road in Middletown
- Approximately 0.69‑acre parcel extending from street to street
- Commercial building with 3 rooms, laundry room, and bathroom with stall shower
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
$32,221
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
6.51%
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%
$644,420
$644.4K
Cap Rate 7%
$460,300
$460.3K
Cap Rate 9%
$358,011
$358.0K
Market Conditions
NOI Build-Up for 2,600 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
$48.0K $18.48/SF
− Vacancy
−$2.0K −$0.78/SF
EGI
$46.0K $17.70/SF
− OpEx
−$13.8K −$5.31/SF
NOI
$32.2K $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%
$644,420
Cap Rate 7%
$460,300
Cap Rate 9%
$358,011
Alternative Uses
Best Use
Office B
$782.1K
$684.4K – $912.5K
NOI $54,748 @ 7.0% cap · market cap 11.06%
Second Best
Retail
$460.3K
$402.8K – $537.0K
NOI $32,221 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$1.04M
$913.1K – $1.22M
NOI $73,047 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-2 zoning, public water, public sewer, and a well support the property’s commercial configuration.
Where is this mixed-use property located?
The property is located at 21298 Calistoga Road Middletown, CA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Highway 29 frontage at 21298 Calistoga Road in Middletown; Approximately 0.69‑acre parcel extending from street to street; Commercial building with 3 rooms, laundry room, and bathroom with stall shower
