Remodeled Live-Work Office
For Sale
$874,000
867 Redwood Drive, Garberville, CA 95542
Downtown Garberville building includes remodeled upstairs office/live-work units with private entries and full kitchens.
Property Size2,500 SF
Price / SF$349.60
Days on Market443
Property Features for 867 Redwood Drive
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Additional Details
Office Units
2
Listing Agency:
SHELTER COVE REALTY
(707) 499-2831
Listed By:
VERN BONHAM III · License #00883393
Source:
Corcoran
Added: Jun 20, 2025
Changed: Aug 31
Last Checked: Sep 5 at 9:20AM
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 SHELTER COVE REALTY
Investment Insights
Based on property information with market context.
Large, well maintained commercial building downtown Garberville, home to NACHO MAMA CAFE. The property features two upstairs office spaces with large living areas, and the entire upstairs level has been remodeled.
The larger upstairs unit is configured as a one bedroom, or optionally as two office spaces, and includes a full kitchen and private entry. The second upstairs unit is located to the rear of the building and is offered as a one bedroom or one office, with a full bath and apartment kitchen.
Ideal for buyers looking for a multi-unit setup where the commercial and live-work elements share the same address.
The larger upstairs unit is configured as a one bedroom, or optionally as two office spaces, and includes a full kitchen and private entry. The second upstairs unit is located to the rear of the building and is offered as a one bedroom or one office, with a full bath and apartment kitchen.
Ideal for buyers looking for a multi-unit setup where the commercial and live-work elements share the same address.
Key Highlights
- Downtown Garberville commercial building with NACHO MAMA CAFE and remodeled upstairs office/live‑work units
- Remodeled upstairs includes two office spaces with large living areas
- Larger upstairs unit offers a one‑bedroom or two‑office setup with a full kitchen and private entry
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
$62,566
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
7.16%
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%
$1,251,320
$1.3M
Cap Rate 7%
$893,800
$893.8K
Cap Rate 9%
$695,178
$695.2K
Market Conditions
NOI Build-Up for 2,500 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
$93.0K $37.20/SF
− Vacancy
−$9.6K −$3.83/SF
EGI
$83.4K $33.37/SF
− OpEx
−$20.9K −$8.34/SF
NOI
$62.6K $25.03/SF
Area
Humboldt County, CA
Vacancy
10.30%
Lease Rate
$37.20 /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%
$1,251,320
Cap Rate 7%
$893,800
Cap Rate 9%
$695,178
Alternative Uses
Best Use
Specialty Retail
$893.8K
$782.1K – $1.04M
NOI $62,566 @ 7.0% cap · market cap 7.16%
Second Best
Office B
$465.2K
$407.0K – $542.7K
NOI $32,562 @ 7.0% cap · market cap 3.73%
Theoretical Best
Flex RnD
$944.1K
$826.1K – $1.10M
NOI $66,087 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 95542, CA
2,519
Population
1,429
Households
1.8
Avg Household Size
46
Median Age
21%
College-Educated
84%
High-School Grad
219.5 sq mi
ZIP Area
11
Density / Sq Mi
$45,049
Median Household Income
$31,250
Median Earnings
$1,442
Median Rent
$413,800
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?
Live-work space - Downtown Garberville building includes remodeled upstairs office/live-work units with private entries and full kitchens.
Where is this live-work space located?
The property is located at 867 Redwood Drive Garberville, CA.
What is the asking price?
The asking price for this property is $874,000.
What are key features of this property?
This property features: Downtown Garberville commercial building with NACHO MAMA CAFE and remodeled upstairs office/live‑work units; Remodeled upstairs includes two office spaces with large living areas; Larger upstairs unit offers a one‑bedroom or two‑office setup with a full kitchen and private entry
