For Sale
Contact for pricing
721 River Dr, Fort Bragg, CA 95437
Medical Office Space
Property Size12,147 SF
Lot Size0.98 Acres
Price / SF$326.01
Days on Market810
Property Features for 721 River Dr
General Information
Standard status
Active
Size
12,147 SF
Class
B
Total Parking Spaces
64
Lot size
0.98 Acres
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$336,609
Building Details
Year Built
2005
Year Renovated
2025
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Chicago Downtown
Listed By:
Frank Roti · License #IL 475.139806
(312) 787-0666
Source:
Crexi
Added: Jul 29, 2024
Changed: Oct 15
Last Checked: Oct 16 at 7:39AM
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 Marcus & Millichap - Chicago Downtown
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Key Highlights
- 100% occupied by Adventist Health (S&P credit rating A-).
- Triple‑net lease structure with CPI (2%-5%) increase every two years.
- Four, five‑year renewal options remaining.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$270,142
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,402,840
$5.4M
Cap Rate 7%
$3,859,171
$3.9M
Cap Rate 9%
$3,001,578
$3.0M
Market Conditions
NOI Build-Up for 12,147 SF
Gross rent
$524.8K $43.20/SF
− Vacancy
−$74.5K −$6.13/SF
EGI
$450.2K $37.07/SF
− OpEx
−$180.1K −$14.83/SF
NOI
$270.1K $22.24/SF
Area
Mendocino County, CA
Vacancy
14.20%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,402,840
Cap Rate 7%
$3,859,171
Cap Rate 9%
$3,001,578
Alternative Uses
Best Use
Healthcare Medical
$3.86M
$3.38M – $4.50M
NOI $270,142 @ 7.0% cap · market cap 6.82%
Second Best
Office B
$2.52M
$2.20M – $2.94M
NOI $176,342 @ 7.0% cap · market cap 4.45%
Theoretical Best
Flex RnD
$4.54M
$3.97M – $5.30M
NOI $317,894 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
Where is this medical office space located?
The property is located at 721 River Dr Fort Bragg, CA.
What is the asking price?
The asking price for this property is $3,960,000.
What are key features of this property?
This property features: 100% occupied by Adventist Health (S&P credit rating A-).; Triple‑net lease structure with CPI (2%-5%) increase every two years.; Four, five‑year renewal options remaining.
