Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1476 Main St Willits, CA 95490-4310

    • Office Properties & Spaces
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Oct 08, 2021
    $470,000
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1060684
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 1476 Main St

    Lot size
    0.50 lot acres
    Property type
    Office Properties & Spaces
    APN
    007-080-07-00
    APU
    70800700

    Description

    This exceptional mixed-use property presents a rare investment opportunity in the heart of Willits, California. Located at 1476 S Main Street, this offering encompasses a fully-rented four-unit commercial building, totaling 1,752 square feet, constructed in 1955. Each storefront enjoys privacy due to the generous spacing between units. The commercial building's strong rental income stream is further complemented by three additional cabins, providing diverse revenue potential. Adding to this impressive portfolio is a substantial 1,656-square-foot residential home, featuring three bedrooms and two bathrooms, built in 1946. This property sits on a sizable 0.73-acre lot, offering ample parking for tenants and customers. The combination of established commercial rental income, supplemental cabin rentals, and a spacious residential dwelling makes this a truly unique and lucrative investment. The property's prime downtown location ensures high visibility and accessibility, making it an ideal investment for those seeking a diversified and stable income stream. The substantial lot size provides flexibility for future expansion or development, presenting further opportunities for growth and increased profitability. This is a turnkey operation ready for a new owner to step in and benefit from the existing income streams. Don't miss this chance to acquire a significant and well-established property in a thriving community. The asking price is $850,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $530,000
      ML approach
      $475,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Willits
    County
    Mendocino
    State
    California
    Longitude
    -123.35
    Latitude
    39.3954
    CBSA code
    46380
    CBSA name
    UKIAH, CA MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,261
    $136,536
    $216,184
    $352,720
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $265,000
      0.19 Acres

      235 Main St

      OFFICE (GENERAL) • 0.19 Acres
      235 Main St, Willits, CA 95490-3505
      View Details
    • Value Estimation
      $265,000
      0.28 Acres

      234 Main St

      OFFICE (GENERAL) • 0.28 Acres
      234 Main St, Willits, CA 95490-3540
      View Details
    • Value Estimation
      $265,000
      0.23 Acres

      2 Nn St

      OFFICE (GENERAL) • 0.23 Acres
      2 Nn St, Willits, CA 95490-3418
      View Details
    • Value Estimation
      $155,000
      0.21 Acres

      72 Commercial St

      OFFICE (GENERAL) • 0.21 Acres
      72 Commercial St, Willits, CA 95490-3007
      View Details
    • Value Estimation
      $460,000
      0.35 Acres

      280 Commercial St

      OFFICE (GENERAL) • 0.35 Acres
      280 Commercial St, Willits, CA 95490-3106
      View Details
    • Value Estimation
      $1,410,000
      0.37 Acres

      315 Main St

      OFFICE (GENERAL) • 0.37 Acres
      315 Main St, Willits, CA 95490-6200
      View Details

    Similar Nearby for Sale

    • $319,900
      2,400 SF

      Willits Downtown Retail/Office

      Prime Downtown Willits investment. Three leased units.
      41 Mendocino Ave, Willits, CA 95490
      View Details
    • $349,000
      1,685 SF

      Turnkey Clinic Building on Main

      Turnkey chiropractic clinic building in Willits with prime highway frontage.
      1225 S Main St, Willits, CA 95490
      View Details
    • $319,900
      0.15 Acres

      Downtown Willits Retail Investment

      Fully Leased Retail/Office Building
      41 Mendocino Ave, Willits, CA 95490
      View Details
    • $325,000
      0.19 Acres

      Downtown Willits Mixed-Use Gem

      Prime Willits location, 6000 sq ft, endless potential.
      330 Main St, Willits, CA 95490
      View Details
    • $149,999
      2.86 Acres

      2.86 Acre Residential Lot

      Spacious 2.86 acre lot ready for your vision.
      1655 Hilltop Dr, Willits, CA 95490
      View Details
    • $275,000
      2,900 SF

      Willits Commercial Property on Main

      Commercial property on Main Street in historic downtown Willits.
      242 S Main St, Willits, CA 95490
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1476 Main St
    Willits, CA 95490-4310
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.