Office Building with Open Floor
For Sale
$900,000
321 Payne Lane, Yreka, CA 96097
INCOME PROPERTY, Yreka, CA
Property Size6,000 SF
Lot Size2.90 Acres
Price / SF$150
Days on Market48
Property Features for 321 Payne Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Subdivision
Yreka
Standard status
Active
Size
6,000 SF
Lot size
2.90 Acres
Building Details
Number of units
1
Listing Agency:
Coldwell Banker-Mtn Gate Properties · Coldwell Banker Real Estate
(530) 926-5236
Listed By:
Stace Jankowski · License #02003434
(530) 598-5967
Added: Jul 6
Changed: Aug 19
Last Checked: Aug 22 at 5:06PM
MLS# 20260877
Copyright © 2026 Siskiyou Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial office building at 321 Payne Lane in Yreka, California sits on approximately 2.9 acres and offers a large open floor plan that can be adapted to a range of business needs. With approximately 6,000 square feet of interior space, the layout is designed to support offices, retail, service businesses, or a combination of uses.
The building includes two bathrooms, providing basic restroom service within the space. The property is positioned in the heart of Yreka, offering an owner the flexibility to tailor the interior to their operating model.
Interested parties can explore the open, flexible configuration in person and discuss how the layout may fit prospective uses, whether a single primary use or a mixed approach.
The building includes two bathrooms, providing basic restroom service within the space. The property is positioned in the heart of Yreka, offering an owner the flexibility to tailor the interior to their operating model.
Interested parties can explore the open, flexible configuration in person and discuss how the layout may fit prospective uses, whether a single primary use or a mixed approach.
Key Highlights
- Approximately 2.9‑acre commercial office property
- Approximately 6,000 SF interior space
- Large open floor plan adaptable to multiple business uses
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
$81,648
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
9.07%
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%
$1,632,960
$1.6M
Cap Rate 7%
$1,166,400
$1.2M
Cap Rate 9%
$907,200
$907.2K
Market Conditions
NOI Build-Up for 6,000 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
$129.6K $21.60/SF
− Vacancy
−$20.7K −$3.46/SF
EGI
$108.9K $18.14/SF
− OpEx
−$27.2K −$4.54/SF
NOI
$81.6K $13.61/SF
Area
Siskiyou County, CA
Vacancy
16.00%
Lease Rate
$21.60 /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%
$1,632,960
Cap Rate 7%
$1,166,400
Cap Rate 9%
$907,200
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,648 @ 7.0% cap · market cap 9.07%
Second Best
Retail
$807.8K
$706.9K – $942.5K
NOI $56,549 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.77M
$1.54M – $2.06M
NOI $123,552 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 96097, CA
10,131
Population
4,737
Households
2.1
Avg Household Size
44
Median Age
20%
College-Educated
91%
High-School Grad
181.7 sq mi
ZIP Area
56
Density / Sq Mi
$47,105
Median Household Income
$36,325
Median Earnings
$984
Median Rent
$256,400
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?
Office building - Flexibly laid-out office building with two bathrooms and adaptable interior space for multiple business uses.
Where is this office building located?
The property is located at 321 Payne Lane Yreka, CA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Approximately 2.9‑acre commercial office property; Approximately 6,000 SF interior space; Large open floor plan adaptable to multiple business uses
