Willits Mixed-Use Income
244 S Main Willits, CA 95490
For Sale
$850,000
Two buildings with business, liquor license, and income potential.
Property Size5,134 SF
Price / SF$165.56
Days on Market416
Property Features for 244 S Main
General Information
- Standard status
- Active
- Size
- 5,134 SF
Building Details
- Year Built
- 1951
Listing Agency:
COLDWELL BANKER MENDO REALTY
(707) 459-5389
Listed By:
LEE PERSICO
Source:
Corcoran
Added: Jun 3, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 COLDWELL BANKER MENDO REALTY
Investment Insights
Based on property information with market context.
Located in downtown Willits, this property features two buildings on two separate parcels, including a business and liquor license. The property includes apartments upstairs, with an additional unfinished apartment for potential income generation. A large parking lot is available for tenants and customers. The detached building is divided into two retail spaces, along with a bathroom. Situated on Main Street, this property offers live/work and income potential. The property size is 5134 square feet.
Key Highlights
- Two buildings on two separate parcels, including business and liquor license.
- Main Street frontage in the heart of downtown Willits.
- Apartment upstairs plus unfinished 2nd apartment for income potential.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $110.9k | $21.60 |
| − Vacancy | −$11.1k | −$2.16 |
| EGI | $99.8k | $19.44 |
| − OpEx | −$37.4k | −$7.29 |
| NOI | $62.4k | $12.15 |
5,134 SF · lease $21.60/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$891.1K
$779.7K – $1.04M
NOI $62,378 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$624.1K
$546.1K – $728.1K
NOI $43,685 @ 7.0% cap · market cap 5.14%
Theoretical Best
Flex RnD
$1.92M
$1.68M – $2.24M
NOI $134,360 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Diggers A Bar & NO ...
Bar & Pub
FAQs
What type of property is this?
Mixed-use property - Two buildings with business, liquor license, and income potential.
Where is this mixed-use property located?
The property is located at 244 S Main Willits, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two buildings on two separate parcels, including business and liquor license.; Main Street frontage in the heart of downtown Willits.; Apartment upstairs plus unfinished 2nd apartment for income potential.
