Building Details

Tenancy Multi

Listing Agency: Pamela Hudson Real Estate

Listed By: Pam Hudson · License #01036573 Show Phone

Source: Myfabuloushome

Added: Jul 29 Changed: Sep 8 Last Checked: Sep 13 at 4:20PM

Report an Issue

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 Pamela Hudson Real Estate

Investment Insights

Based on property information with market context.

This commercial live-work opportunity includes a long-term U.S. Post Office lease as the anchor tenant. A hardware store known as Village Hardware occupies a third of the building, and business and inventory may be included in the sale.

The property is located in Albion, CA, next to a grocery store, with the local Fire Department occupying a contiguous parcel. The one-bedroom, one-bath apartment is accessible from the west side of the property.

The site offers exceptional visibility from Highway 1, along with ample parking and available signage for customer-facing use.

Key Highlights

• Long‑term U.S. Post Office lease serves as anchor tenant
• Village Hardware occupies one‑third of the building
• One‑bedroom, one‑bath apartment accessible from the west side

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

$72,529

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

7.33%

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%

$1,450,580 $1.5M

Cap Rate 7%

$1,036,129 $1.0M

Cap Rate 9%

$805,878 $805.9K

Market Conditions

NOI Build-Up for 4,996 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

$112.7K $22.56/SF

− Vacancy

−$16.0K −$3.20/SF

EGI

$96.7K $19.36/SF

− OpEx

−$24.2K −$4.84/SF

NOI

$72.5K $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%

$1,450,580

Cap Rate 7%

$1,036,129

Cap Rate 9%

$805,878

Alternative Uses

Best Use

Office B

$1.04M

$906.6K – $1.21M (±1% cap)

NOI $72,529 @ 7.0% cap · market cap 7.33%

Second Best

Mixed Use

$867.2K

$758.8K – $1.01M (±1% cap)

NOI $60,701 @ 7.0% cap · market cap 6.13%

Theoretical Best

Flex RnD

$1.87M

$1.63M – $2.18M (±1% cap)

NOI $130,748 @ 7.0% cap · market cap 13.21%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Village True Value ... Building Supply United States Postal ... Post Office

Suggested Use

Top Pick Parking Lot & Garage Garden Center Building Supply Wine and Liquor Store Supermarket Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

30

Businesses Nearby

Explore this area Business Placement

Demographics for 95410, CA

974

Population

482

Households

2

Avg Household Size

60

Median Age

61%

College-Educated

98%

High-School Grad

30.0 sq mi

ZIP Area

32

Density / Sq Mi

$39,628

Median Household Income

$706,300

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this live-work space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Live-work space - Anchored by a long-term U.S. Post Office lease, with a one-bedroom apartment and strong Highway 1 visibility.

Where is this live-work space located?

The property is located at 34900 Albion Ridge Rd Albion, CA.

What is the asking price?

The asking price for this property is $990,000.

What are key features of this property?

This property features: Long‑term U.S. Post Office lease serves as anchor tenant; Village Hardware occupies one‑third of the building; One‑bedroom, one‑bath apartment accessible from the west side