723 Main St Woodland, CA 95695-3406
- Office buildings
- 36,017 SF
- 0.39 lot acres
Current Use by Public Records
- The City of Trees Pest Solutions / Pest Control Service
- MyBrotherSteve.com Computer Services, Repairs & Web Design / Computer Repair Service / Computer Consultant
- I.O.O.F. Building / Historical Landmark
Property Details for 723 Main St
- Year built
- 1903
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.39 lot acres
- Property size
- 36,017 SF
- Zone code
- CBD
- Property type
- Office buildings
- APN
- 005-224-004-000
- APU
- 5224004000
Description
This exceptional mixed-use investment opportunity presents a remarkable 36,017 square foot, four-story building located at 723 Main Street in Woodland, California. Built in 1906 and renovated in 1982, this Class B property boasts a prominent location within the Woodland Downtown District, potentially offering tax advantages (verification with the city is recommended). The building, situated on a 0.39-acre lot, features 56 units across four floors, including a basement, and currently enjoys an 80% occupancy rate, projected to continue until January 1, 2025. The property includes 23 parking spaces and is zoned for office use. Currently housing a diverse range of 45 tenants, including a significant anchor tenant, the building offers a strong net operating income (NOI) of $255,000, with an asking price of $2,779,000 ($77.16 per square foot). The building's diverse tenancy includes businesses such as a cheesesteak restaurant, computer repair, web design, network services, legal offices, photography studio, accounting firms, construction company, driving school, custom shirt printing, and a tattoo shop. Many tenants have established long-term presences. Opportunities exist to enhance cash flow by subdividing some larger suites. Rent bumps are in place. This landmark property, listed on the National Register of Historic Places, presents a unique chance to acquire a well-established, income-producing asset in a thriving downtown area. The APN is 005-224-004.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,625,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,080,000
- 6.5%
- $2,375,000
- 7%
- $2,095,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,275,000
- Geo Method
- $2,125,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,505,000
- Retail
- $2,215,000
- Mixed-Use
- $2,350,000
- Hospitality
- $2,550,000
- Educational
- $2,535,000
- Residential Income
- $2,580,000
- Energy
- $2,465,000
- Income-Based Land
- $2,055,000
- Food Service
- $2,020,000
Location Insight
- Map
- Local Demand
- City
- Woodland
- County
- Yolo
- State
- California
- Longitude
- -121.771
- Latitude
- 38.6778
- CBSA code
- 40900
- CBSA name
- SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA
