Mixed-Use Property with Retail
For Sale
$340,000
38 S Main St, Willits, CA 95490
Two-story downtown asset combining storefront, residential, office, garage, and storage components.
Property Size7,184 SF
Days on Market227
Property Features for 38 S Main St
General Information
Standard status
Active
Size
7,184 SF
Property subtype
Other
Additional Details
Utilities to Site
Yes
Office Units
1
Building Details
Building Size
7,184 SF
Year Built
1910
Stories
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Mendo Realty
Listed By:
Lee Persico · License #00446837
(707) 489-0332
Source:
Commercialcafe
Added: Mar 17
Changed: Oct 25
Last Checked: Oct 28 at 4:47AM
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
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Investment Insights
Based on property information with market context.
This two-story mixed-use property contains 7,184 square feet and five income units arranged across retail, residential, and office components. The ground floor includes two storefronts, with one currently occupied by a single tenant, while two residential units are located upstairs alongside an additional office space. Multiple entrances and separate utility meters support distinct access and operational arrangements.
The property includes alley access serving the south retail area, plus an on-site garage and storage area. Constructed in 1910, the building features central and wall-unit heating and cooling, natural gas service, carpet and concrete slab flooring, and a slab foundation. The offering is presented as-is, with renovation and system-upgrade work identified as part of the property’s repositioning strategy.
The property includes alley access serving the south retail area, plus an on-site garage and storage area. Constructed in 1910, the building features central and wall-unit heating and cooling, natural gas service, carpet and concrete slab flooring, and a slab foundation. The offering is presented as-is, with renovation and system-upgrade work identified as part of the property’s repositioning strategy.
Key Highlights
- 7,184 SF mixed‑use property with 5 income units
- Two ground‑floor retail storefronts, two second‑floor residential units, and one office space
- Multiple entrances and separate utility meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,074
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,480
$281.5K
Cap Rate 7%
$201,057
$201.1K
Cap Rate 9%
$156,378
$156.4K
Market Conditions
NOI Build-Up for 7,184 SF
Gross rent
$22.4K $3.12/SF
− Vacancy
−$2.3K −$0.32/SF
EGI
$20.1K $2.80/SF
− OpEx
−$6.0K −$0.84/SF
NOI
$14.1K $1.96/SF
Area
Mendocino County, CA
Vacancy
10.30%
Lease Rate
$3.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$281,480
Cap Rate 7%
$201,057
Cap Rate 9%
$156,378
Alternative Uses
Best Use
Mixed Use
$1.25M
$1.09M – $1.45M
NOI $87,286 @ 7.0% cap · market cap 25.67%
Second Best
Multifamily LT 5
$949.1K
$830.4K – $1.11M
NOI $66,434 @ 7.0% cap · market cap 19.54%
Theoretical Best
Flex RnD
$2.69M
$2.35M – $3.13M
NOI $188,009 @ 7.0% cap · market cap 55.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
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Business Placement
Demographics for 95490, CA
14,227
Population
6,077
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
89%
High-School Grad
430.1 sq mi
ZIP Area
33
Density / Sq Mi
$67,069
Median Household Income
$44,362
Median Earnings
$1,243
Median Rent
$383,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story downtown asset combining storefront, residential, office, garage, and storage components.
Where is this mixed-use property located?
The property is located at 38 S Main St Willits, CA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 7,184 SF mixed‑use property with 5 income units; Two ground‑floor retail storefronts, two second‑floor residential units, and one office space; Multiple entrances and separate utility meters
