Carine Motel on Large
For Sale
Contact for pricing
Pending
321 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
Days on Market742
Property Features for 321 South Franklin Street
General Information
Standard status
Pending
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
Listed By:
Gregory Burke · License #01206312
(707) 937-5822
Source:
Crexi
Added: Oct 5, 2024
Changed: Oct 15
Last Checked: Oct 16 at 8:55AM
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
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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 / Yr
$39,475
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
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
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 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 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.30M
$2.01M – $2.69M
NOI $161,106 @ 7.0% cap · market cap 33.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 321 South Franklin Street Fort Bragg, CA.
What is the asking price?
The asking price for this property is $475,000.
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.
