RC-Zoned Mixed-Use
For Sale
$595,000
67951 HWY 101, Leggett, CA 95585
Multiple residential structures, apartment units, and renovation-ready former hotel units support varied commercial configurations.
Property Size4,578 SF
Lot Size3.53 Acres
Price / SF$129.97
Days on Market12
Property Features for 67951 HWY 101
General Information
Standard status
Active
Size
4,578 SF
Lot size
3.53 Acres
Property subtype
General Commercial
Zoning
RC
Property Condition
Severity
Major Repairs Needed
Evidence
require full renovation
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Land Use
commercial, hospitality, lodging, retreat, mixed-use, redevelopment
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,493
Amenities
workshop/garage spaces
RV storage
carports
fruit trees
forested privacy
two wells
four water storage tanks
Metal
20 Parking Spaces. Carport.
Listed By:
Shoreline Properties
Source:
Xome
Added: Aug 21
Changed: Aug 31
Last Checked: Aug 31 at 3:17PM
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 Shoreline Properties
Investment Insights
Based on property information with market context.
This RC-zoned mixed-use property encompasses 3.53 acres along Hwy 101 and includes multiple existing structures. Improvements comprise two residences, two 1-bedroom apartments, and four former hotel units that are non-habitable and require full renovation. Additional site improvements include workshop and garage areas, carports, RV storage, fruit trees, and forested surroundings.
The property is positioned near Drive-Thru Tree Park, The Peg House, and Confusion Hill. On-site infrastructure includes two wells, four water storage tanks, and 20 parking spaces. The combination of existing residential, apartment, and former lodging improvements provides a substantial physical base for hospitality, lodging, mixed-use, or redevelopment plans, subject to buyer verification.
The property is positioned near Drive-Thru Tree Park, The Peg House, and Confusion Hill. On-site infrastructure includes two wells, four water storage tanks, and 20 parking spaces. The combination of existing residential, apartment, and former lodging improvements provides a substantial physical base for hospitality, lodging, mixed-use, or redevelopment plans, subject to buyer verification.
Key Highlights
- 3.53‑acre RC‑zoned property along Hwy 101
- Two residences and two 1‑bedroom apartments
- Four former hotel units; non‑habitable and require full renovation
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
$38,954
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
6.55%
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%
$779,080
$779.1K
Cap Rate 7%
$556,486
$556.5K
Cap Rate 9%
$432,822
$432.8K
Market Conditions
NOI Build-Up for 4,578 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
$74.2K $16.20/SF
− Vacancy
−$3.3K −$0.73/SF
EGI
$70.8K $15.47/SF
− OpEx
−$31.9K −$6.96/SF
NOI
$39.0K $8.51/SF
Area
Mendocino County, CA
Vacancy
4.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$779,080
Cap Rate 7%
$556,486
Cap Rate 9%
$432,822
Alternative Uses
Best Use
Mixed Use
$794.6K
$695.3K – $927.1K
NOI $55,623 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$556.5K
$486.9K – $649.2K
NOI $38,954 @ 7.0% cap · market cap 6.55%
Theoretical Best
Flex RnD
$1.71M
$1.50M – $2.00M
NOI $119,809 @ 7.0% cap · market cap 20.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 95585, CA
471
Population
377
Households
1.2
Avg Household Size
45
Median Age
19%
College-Educated
90%
High-School Grad
58.6 sq mi
ZIP Area
8
Density / Sq Mi
$36,349
Median Household Income
$18,266
Median Earnings
$915
Median Rent
$373,500
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Mixed-use property - Multiple residential structures, apartment units, and renovation-ready former hotel units support varied commercial configurations.
Where is this mixed-use property located?
The property is located at 67951 HWY 101 Leggett, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3.53‑acre RC‑zoned property along Hwy 101; Two residences and two 1‑bedroom apartments; Four former hotel units; non‑habitable and require full renovation
