Dual-Building Office
For Sale
$575,000
715-721 S Dora Street Unit 1 & 2, Ukiah, CA 95482
Two updated office buildings include private parking, separate meters, and flexible layouts for professional or medical use.
Property Size2,676 SF
Price / SF$214.87
Days on Market366
Property Features for 715-721 S Dora Street Unit 1 & 2
General Information
Standard status
Active
Size
2,676 SF
Property subtype
Office
Amenities
Central Air
3
CN
10 Parking Spaces.
City Road.
Building Details
Year Built
1962
Buildings
2
Listing Agency:
eXp Realty of California, Inc
(707) 972-4046
Listed By:
Carissa Sadlier · License #02219601
(707) 972-4046
Source:
Xome
Added: Aug 31, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:02AM
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 eXp Realty of California, Inc
Investment Insights
Based on property information with market context.
Built in 1962, this office property comprises two updated buildings totaling approximately 2,676 square feet. The 715 S. Dora building contains approximately 864 sq. ft. with a reception area, office, half bath, and multiple rooms, including one with an additional sink. It is currently leased. The 721 S. Dora building offers approximately 1,812 sq. ft. configured for medical office use, with reception, waiting, offices, storage, and a break room. Both buildings include central air and have received new roofs, HVAC systems, fresh paint, and sewer lateral improvements.
The property provides 10 parking spaces, a small outdoor area, and access through an easement/right-of-way across the adjacent property connecting Mill and Dora. Originally arranged as two units with separate meters, the buildings support continued independent use or future combined operations. The property is located on S. Dora Street in Ukiah, California, in a high-traffic area.
The property provides 10 parking spaces, a small outdoor area, and access through an easement/right-of-way across the adjacent property connecting Mill and Dora. Originally arranged as two units with separate meters, the buildings support continued independent use or future combined operations. The property is located on S. Dora Street in Ukiah, California, in a high-traffic area.
Key Highlights
- Two office buildings totaling approximately 2,676 square feet
- 715 S. Dora includes approximately 864 sq. ft. and is currently leased
- 721 S. Dora provides approximately 1,812 sq. ft. of tenant‑occupied medical office space
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
$38,848
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
6.76%
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%
$776,960
$777.0K
Cap Rate 7%
$554,971
$555.0K
Cap Rate 9%
$431,644
$431.6K
Market Conditions
NOI Build-Up for 2,676 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
$60.4K $22.56/SF
− Vacancy
−$8.6K −$3.20/SF
EGI
$51.8K $19.36/SF
− OpEx
−$12.9K −$4.84/SF
NOI
$38.8K $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%
$776,960
Cap Rate 7%
$554,971
Cap Rate 9%
$431,644
Alternative Uses
Best Use
Healthcare Medical
$850.2K
$743.9K – $991.9K
NOI $59,513 @ 7.0% cap · market cap 10.35%
Second Best
Office B
$555.0K
$485.6K – $647.5K
NOI $38,848 @ 7.0% cap · market cap 6.76%
Theoretical Best
Flex RnD
$1.00M
$875.4K – $1.17M
NOI $70,032 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,622
Businesses Nearby
Explore this area
Business Placement
Demographics for 95482, CA
33,276
Population
13,143
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
84%
High-School Grad
294.2 sq mi
ZIP Area
113
Density / Sq Mi
$70,063
Median Household Income
$38,707
Median Earnings
$1,335
Median Rent
$473,000
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?
Office building - Two updated office buildings include private parking, separate meters, and flexible layouts for professional or medical use.
Where is this office building located?
The property is located at 715-721 S Dora Street Unit 1 & 2 Ukiah, CA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two office buildings totaling approximately 2,676 square feet; 715 S. Dora includes approximately 864 sq. ft. and is currently leased; 721 S. Dora provides approximately 1,812 sq. ft. of tenant‑occupied medical office space
