Building Details

Building Size 1,900 SF

Year Built 1928

Stories 1

Construction stucco

Listing Agency: Compass a***@compass.com Show Phone

Listed By: Andrew Jones · License #01895003 Show Phone

Source: Elliman

Added: Aug 8 Changed: Aug 9 Last Checked: Aug 10 at 4:35AM

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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 Compass

Investment Insights

Based on property information with market context.

Located at 235 Main St in Point Arena, this single-level storefront contains approximately 1,900 square feet of interior space. The 1928 building features a flat roof, stucco exterior, modest parapet, and a distinctive facade, along with a large private parking lot.

Over its history, the property has accommodated a market, butcher shop, pharmacy, and other retail businesses. The interior can be considered for retail, gallery, café, office, or other commercial concepts, subject to applicable requirements. Core Commercial zoning adds to the property's established downtown commercial setting.

Key Highlights

• Approximately 1,900 square feet of interior space
• Built in 1928
• Core Commercial zoning

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

$27,583

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

4.93%

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%

$551,660 $551.7K

Cap Rate 7%

$394,043 $394.0K

Cap Rate 9%

$306,478 $306.5K

Market Conditions

NOI Build-Up for 1,900 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

$42.9K $22.56/SF

− Vacancy

−$6.1K −$3.20/SF

EGI

$36.8K $19.36/SF

− OpEx

−$9.2K −$4.84/SF

NOI

$27.6K $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%

$551,660

Cap Rate 7%

$394,043

Cap Rate 9%

$306,478

Alternative Uses

Best Use

Office B

$394.0K

$344.8K – $459.7K (±1% cap)

NOI $27,583 @ 7.0% cap · market cap 4.93%

Second Best

Retail

$53.2K

$46.5K – $62.0K (±1% cap)

NOI $3,722 @ 7.0% cap · market cap 0.66%

Theoretical Best

Flex RnD

$710.3K

$621.6K – $828.7K (±1% cap)

NOI $49,724 @ 7.0% cap · market cap 8.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Parking Lot & Garage Garden Center Computer & Electronic Repair Hair Salon Nail Salon Tech Support Center

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

132

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 95468, CA

1,398

Population

828

Households

1.7

Avg Household Size

50

Median Age

38%

College-Educated

92%

High-School Grad

60.7 sq mi

ZIP Area

23

Density / Sq Mi

$104,429

Median Household Income

$45,536

Median Earnings

$1,792

Median Rent

$451,400

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Storefront property - The building combines Core Commercial zoning with a large private parking lot.

Where is this storefront property located?

The property is located at 235 Main St Point Arena, CA.

What is the asking price?

The asking price for this property is $560,000.

What are key features of this property?

This property features: Approximately 1,900 square feet of interior space; Built in 1928; Core Commercial zoning