Carine Motel on Large
For Sale
Contact for pricing
327 South Franklin Street, Fort Bragg, CA 95437
7-unit motel with houses on 1.17-acre lot.
Property Size6,156 SF
Lot Size1.17 Acres
Price / SF$96.65
Days on Market697
Property Features for 327 South Franklin Street
General Information
Standard status
Active
Size
6,156 SF
Lot size
1.17 Acres
Property subtype
Hospitality
Zoning
GC
Building Details
Year Built
1940
Listing Agency:
Mendo Sotheby's International Realty
(707) 937-5822
Listed By:
Gregory Burke · License #01206312
Source:
Crexi
Added: Oct 5, 2024
Changed: Aug 16
Last Checked: Aug 31 at 1:43AM
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 Mendo Sotheby's International Realty
Investment Insights
Based on property information with market context.
The Carine Motel, featuring 7 units, is situated on a 1.17-acre lot. The property consists of four separate APNs. Included in the offering is a 3-bedroom, 2-bath house formerly occupied by the owner, as well as an additional 2-bedroom, 1-bath house located on a corner lot. The property has 6,156 square feet. The main house could serve as manager's or owner's quarters. A significant portion of the lot remains undeveloped, presenting potential for further development.
Key Highlights
- 1.17+/- acre lot consisting of four separate APN's.
- Includes a 3 bedroom, 2 bath house, perfect for owner/manager quarters.
- Additional 2 bedroom, 1 bath house included on a corner lot.
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
$39,475
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
6.63%
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%
$789,500
$789.5K
Cap Rate 7%
$563,929
$563.9K
Cap Rate 9%
$438,611
$438.6K
Market Conditions
NOI Build-Up for 6,156 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
$110.8K $18.00/SF
− Vacancy
−$27.7K −$4.50/SF
EGI
$83.1K $13.50/SF
− OpEx
−$43.6K −$7.09/SF
NOI
$39.5K $6.41/SF
Area
Mendocino County, CA
Vacancy
25.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$789,500
Cap Rate 7%
$563,929
Cap Rate 9%
$438,611
Alternative Uses
Best Use
Hotel Hospitality
$563.9K
$493.4K – $657.9K
NOI $39,475 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.30M
$2.01M – $2.69M
NOI $161,106 @ 7.0% cap · market cap 27.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95437, CA
14,608
Population
7,654
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
86%
High-School Grad
177.4 sq mi
ZIP Area
82
Density / Sq Mi
$55,061
Median Household Income
$35,860
Median Earnings
$1,367
Median Rent
$541,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Motel - 7-unit motel with houses on 1.17-acre lot.
Where is this motel located?
The property is located at 327 South Franklin Street Fort Bragg, 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: 1.17+/- acre lot consisting of four separate APN's.; Includes a 3 bedroom, 2 bath house, perfect for owner/manager quarters.; Additional 2 bedroom, 1 bath house included on a corner lot.
