392 Main St Woodland, CA 95695

This exceptional 5.35-acre redevelopment opportunity in Woodland, CA, presents a compelling investment at $3,750,000. Located at the high-traffic intersection of West Main Street and County Road 98, this property comprises three parcels zoned Corridor Mixed Use (CMU-WN), allowing for a density of 20-40 dwelling units per acre. The existing improvements generate a substantial net operating income (NOI) of $191,578, yielding a 5.11% capitalization rate. The total square footage is 232,971, with 25,600 square feet of net rentable space currently occupied by fifteen tenants generating over $265,000 in gross income. The land value is $16.10 per square foot. The property's zoning offers significant flexibility for diverse development projects, including retail, apartments, hotels, or a combination thereof, benefiting from a recently approved zoning code that encourages Class A development in a supply-constrained market. Further details regarding the city's 2035 General Plan and zoning regulations are available through the City of Woodland's website. This fee-simple ownership presents a rare chance to capitalize on a prime location with existing income and significant upside potential in a thriving California market. The property is offered as a fee simple ownership.