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    Property profile & analytics

    205 Wave Dr Whitethorn, CA 95589-9158

    • Motels
    • 4,395 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Nov 28, 2022
    $5,650,000
    Value Estimations
    $7,160,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1321874
    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

    • Motels

    Property Details for 205 Wave Dr

    Year built
    1968
    Construction
    WOOD
    Lot size
    0.50 lot acres
    Property size
    4,395 SF
    Zone code
    CR-Q/A,D
    Property type
    Motels
    APN
    109-361-048-000
    APU
    109361048000

    Description

    This exceptional coastal hotel, the Inn of the Lost Coast, presents a lucrative investment opportunity. Located at 205 Wave Dr., Shelter Cove, CA 95589, this property boasts stunning ocean views from its clifftop perch. The 20,000+ square foot inn comprises three buildings, constructed in 1968, 1997, and 2007, with extensive renovations completed in 2017. The three-story wood-frame structures offer 18 guest rooms, a luxurious penthouse suite, and a manager's unit. All guest rooms feature balconies or patios with breathtaking ocean views, while suites include added amenities such as kitchenettes, in-room spa tubs, saunas, private decks, and gas fireplaces. Adding to the property's appeal are two leased commercial spaces: a coffee/gift shop and a pizza/bakery, providing additional stable income streams and convenient options for guests. The 21,780 square foot lot is zoned CR (Commercial Recreation). Detailed financial records are available, projecting a 2024 gross income of $819,719 and a net income of $491,831, resulting in a projected capitalization rate of 7.56%. This turnkey operation offers a unique blend of luxury accommodations and consistent revenue generation in a highly desirable coastal location. The property's exceptional location, high-quality amenities, and strong financial performance make it an ideal investment for discerning buyers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,160,000
      ML approach
      $7,260,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Whitethorn
    County
    Humboldt
    State
    California
    Longitude
    -124.078
    Latitude
    40.0346
    CBSA code
    21700
    CBSA name
    EUREKA-ARCATA-FORTUNA, 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
    2024
    $61,806
    $1,020,000
    $4,713,760
    $5,733,760
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $420,000
      0.33 Acres

      48 Surf Pt

      MOTEL • 0.33 Acres
      48 Surf Pt, Whitethorn, CA 95589
      View Details
    • Value Estimation
      $1,940,000
      0.28 Acres

      59 Surf Pt

      MOTEL • 0.28 Acres
      59 Surf Pt, Whitethorn, CA 95589-9141
      View Details
    • Value Estimation
      $1,205,000
      0.15 Acres

      141 Wave Dr

      MOTEL • 0.15 Acres
      141 Wave Dr, Whitethorn, CA 95589-9158
      View Details
    • Value Estimation
      $3,790,000
      2,208 SF

      492 Machi Rd

      HOTEL-RESORT • 2,208 SF
      492 Machi Rd, Whitethorn, CA 95589-9138
      View Details
    • Value Estimation
      $1,200,000
      4,482 SF

      118 Dolphin Dr

      BED & BREAKFAST • 4,482 SF
      118 Dolphin Dr, Whitethorn, CA 95589-9160
      View Details
    • Value Estimation by Request
      0.32 Acres

      78 Dolphin Dr

      VACANT COMMERCIAL LAND • 0.32 Acres
      78 Dolphin Dr, Whitethorn, CA 95589
      View Details

    Similar Nearby for Sale

    • $50,000

      Shelter Cove Vacant Land Opportunity

      Large vacant land available in Shelter Cove, California.
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      Shelter Cove Subdivision Land

      Land in Shelter Cove Subdivision, approximately 10 minutes from the coast.
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      Land with Coastal Views

      Hilltop land in Shelter Cove with breathtaking coastal views.
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      0.36 Acres

      Shelter Cove Fenced Land

      Large fenced lot with sea view and storage shed.
      230 Cougar Rd, Shelter Cove, CA 95589
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      0.26 Acres

      Whitethorn Commercial Land - $15k

      0.26-acre commercial lot; coastal access.
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      View Details
    • Contact for pricing
      0.37 Acres

      Coastal California Farm - $17,500

      0.37-acre farm near Shelter Cove. Ocean views, utilities nearby.
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      View Details
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    205 Wave Dr
    Whitethorn, CA 95589-9158
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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.

    More about this property
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