Historic Mixed-Use Building with
For Sale
$500,000
424 Main Street, Ferndale, CA 95536
COMMERCIAL - Ferndale, CA
Property Size3,335 SF
Lot Size0.06 Acres
Price / SF$149.93
Days on Market197
Property Features for 424 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Yes
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Interior features
Handicap Access, Handicap Restroom
Accessibility
Accessible Approach with Ramp
Subdivision
Mid County
Standard status
Active
Size
3,335 SF
Lot size
0.06 Acres
Amenities
tall ceilings
spacious open main room
stunning glass storefront
five office spaces
laundry room
handicap-accessible bathroom
updated kitchen
granite countertops
clawfoot tub
open floor plan
Building Details
Floors in Building
2
Flooring type
Tile, Carpet, Wood
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
EXP Realty of California, Inc.
(888) 584-9427
Listed By:
Sarah Pichulo · License #02118250
(707) 223-2213
Added: Feb 6
Changed: Aug 4
Last Checked: Aug 22 at 2:06PM
MLS# 271524
Copyright © 2026 Humboldt 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.
Built in 1914, this iconic Victorian mixed-use building is listed on the National Register of Historic Places in Humboldt County. The property totals 3,335 square feet and includes a 1,955-square-foot commercial storefront with tall ceilings, a spacious open main room, and a glass storefront that provides natural light through large windows. Also on site are five office spaces, a laundry room, and a handicap-accessible bathroom.
Two residential apartments are located down an alley and accessed via stairs. One is a one-bedroom, one-bath unit with windows overlooking Main Street and an updated kitchen and bathroom. The second apartment is a two-bedroom, one-bath unit with an open floor plan, tile kitchen floors, granite countertops, and a classic clawfoot tub.
The commercial storefront has a strong long-term rental history, supporting the building’s mixed-income design.
Two residential apartments are located down an alley and accessed via stairs. One is a one-bedroom, one-bath unit with windows overlooking Main Street and an updated kitchen and bathroom. The second apartment is a two-bedroom, one-bath unit with an open floor plan, tile kitchen floors, granite countertops, and a classic clawfoot tub.
The commercial storefront has a strong long-term rental history, supporting the building’s mixed-income design.
Key Highlights
- Built in 1914, Victorian mixed‑use building listed on the National Register of Historic Places (Mullady Building).
- 3,335 SF total property with a 1,955 SF commercial storefront featuring tall ceilings and a glass storefront.
- Commercial storefront includes five office spaces and a laundry room, plus handicap‑accessible bathroom.
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
$43,438
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
8.69%
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%
$868,760
$868.8K
Cap Rate 7%
$620,543
$620.5K
Cap Rate 9%
$482,644
$482.6K
Market Conditions
NOI Build-Up for 3,335 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
$72.0K $21.60/SF
− Vacancy
−$14.1K −$4.23/SF
EGI
$57.9K $17.37/SF
− OpEx
−$14.5K −$4.34/SF
NOI
$43.4K $13.02/SF
Area
Humboldt County, CA
Vacancy
19.60%
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%
$868,760
Cap Rate 7%
$620,543
Cap Rate 9%
$482,644
Alternative Uses
Best Use
Retail
$1.11M
$973.7K – $1.30M
NOI $77,899 @ 7.0% cap · market cap 15.58%
Second Best
Office B
$620.5K
$543.0K – $724.0K
NOI $43,438 @ 7.0% cap · market cap 8.69%
Theoretical Best
Flex RnD
$1.26M
$1.10M – $1.47M
NOI $88,161 @ 7.0% cap · market cap 17.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 95536, CA
2,753
Population
1,548
Households
1.8
Avg Household Size
46
Median Age
24%
College-Educated
91%
High-School Grad
162.8 sq mi
ZIP Area
17
Density / Sq Mi
$66,563
Median Household Income
$36,948
Median Earnings
$1,239
Median Rent
$570,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic mixed-use building with a commercial storefront, five office spaces, and two residential apartments.
Where is this mixed-use property located?
The property is located at 424 Main Street Ferndale, CA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Built in 1914, Victorian mixed‑use building listed on the National Register of Historic Places (Mullady Building).; 3,335 SF total property with a 1,955 SF commercial storefront featuring tall ceilings and a glass storefront.; Commercial storefront includes five office spaces and a laundry room, plus handicap‑accessible bathroom.
