This exceptional 282-acre hunting and recreational property in Benicia, California, presents a unique investment opportunity. Located off the 680 corridor, it offers convenient access to the East Bay, Fairfield, Marin County, and San Francisco. The property boasts two well-maintained homes: a 4,500 sq ft main residence/clubhouse with seven bedrooms and five bathrooms, fully equipped for large gatherings, and a separate 1,800 sq ft caretaker's unit with three bedrooms and one bath. Ten hunting blinds (two three-man and eight two-man) are strategically positioned across the expansive marsh, which historically yields an average of four birds per hunter. The meticulously maintained roads and levees ensure easy access to the blinds via ATV or Argo vehicles, with walk-in access also available. The shallow open water is known for its abundant pintails, teal, and widgeon. Additional features include two docks accommodating three boats each, two large garages, a private well with two separate tanks, reliable PG&E electricity, and room to sleep over 25 people. Year-round recreational opportunities abound, including fishing, water skiing, skeet and rifle shooting, and ATV/UTV riding. The property also includes riparian water rights, controlled by the owner, allowing for pond adjustments as needed. Stunning views of Mount Diablo, the Mothball Fleet, Benicia foothills, and Suisun Slough complete this remarkable offering. The property is enrolled in the Williamson Act. This historic duck club offers a blend of luxury, recreation, and investment potential.
Property Features for 1 Pierce Ln
General Information
Property type
Land
Lot Size
12,283,920 SF
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Listing Contact
Charlie Engs
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HighLights
Panoramic views of Mount Diablo, Benicia foothills, and Suisun Slough.
Each home features a private dock accommodating three boats.
Year‑round recreational opportunities including fishing, waterskiing, skeet/rifle shooting, and ATV/UTV riding.
Accommodates 25+ guests.
Two private wells with separate storage tanks for each house.
The property is located at 1 Pierce Ln Benicia, CA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Panoramic views of Mount Diablo, Benicia foothills, and Suisun Slough.; Each home features a private dock accommodating three boats.; Year-round recreational opportunities including fishing, waterskiing, skeet/rifle shooting, and ATV/UTV riding.
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1 Pierce Ln Benicia, CA 94510
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Realmo Value Estimations
Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods.
Disclaimer
These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.
AI approach
Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.
Realmo CapRate Calculation
Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.
How We Calculate Cap Rate
Cap Rate Formula: Cap Rate (%) = (Net Operating Income / Property Value) × 100
Net Operating Income (NOI) Formula: NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)
Components
Net Operating Income (NOI) represents the annual income a property generates after operating expenses:
Area: Building square footage from property records
Lease Rate: Annual $/sqft based on market data for the property type and geographic location
Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
Operating Expense Ratio: Operating costs as a percentage of income, varies by property type
Property Value is derived from:
Recent sale price (if available)
Statistical models using comparable sales
AI-powered valuation estimates
Example Calculation
For a 100,000 sqft Office Building:
Lease Rate: $25.00/sqft/year (market data for Office in this area)
Vacancy Rate: 8% (market data for Office in this area)
Operating Expense Ratio: 35% (typical for Office properties)
Property Value: $15,000,000
Step 1: Calculate NOI
NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35) NOI = 100,000 × $25.00 × 0.92 × 0.65 NOI = $1,495,000/year
Step 2: Calculate Cap Rate
Cap Rate = ($1,495,000 / $15,000,000) × 100 Cap Rate = 9.97%
Property Type Considerations
Net Operating Income calculations vary by property type due to different operating expense ratios:
Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
Retail: Moderate expenses (25-35%) for common area maintenance
Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
Multifamily: Moderate expenses (35-45%) including property management
Self-Storage: Lower expenses (25-35%) due to minimal maintenance
Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.
Disclaimer
These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.
Cap Rate calculations depend on market data that may change over time
Actual operating expenses, lease rates, and vacancy rates may differ from market averages
Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
Property value estimates are approximations and not official appraisals
Cap rates vary widely by market, property condition, and investment risk profile
Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.
Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Stat Estimate
This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all similar sales ($/sqft) are above this value
Range-to: 75% of all similar sales ($/sqft) are below this value
AI Estimate
This method estimates value based on AI market estimation of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all estimations ($/sqft) are above this value
Range-to: 75% of all estimations ($/sqft) are below this value
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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1 Pierce Ln Benicia, CA 94510
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Real Estate License ID: CA 01904065
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