Willits Mixed-Use Income
244 S Main, Willits, CA 95490
Two buildings with business, liquor license, and income potential.
Property size:
5,134 SFPrice / SF:
$165/SF- Added:
- Jun 3, 2025
- Days on Market:
- 360
- Last Refresh:
- Mar 16 at 9:09 am
Property Features for 244 S Main
General Information
- Standard status
- Active
- Size
- 5,134 SF
Building Details
- Year Built
- 1951
Listing agent LEE PERSICO
Listing office COLDWELL BANKER MENDO REALTY (707) 459-5389
Listing date Jun 3, 2025
Source Corcoran
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
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.
- Large parking lot for tenants and customers.
- Detached building divided into two retail spaces plus bathroom.
- Live/work and income potential.
Overview
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.
Financial Insights
Value Estimation Calculated for Mixed Use
Conservative
$693.1K
NOI $62,378 @ 9.00% cap · cautious / downside scenario
Moderate
$891.1K
NOI $62,378 @ 7.00% cap · market / base-case scenario
Aggressive
$1.25M
NOI $62,378 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Mixed Use
| 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 Use Scenarios
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 Profile
Location Intelligence
Current Use by Public Records
Diggers A Bar & NO ...
Bar & Pub
Location Insight
- Map
- Local Demand
- City
- Willits
- County
- Mendocino
- State
- California
- Longitude
- -123.355
- Latitude
- 39.41
Nearby Similar for Sale
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.
