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    Property profile & analytics

    475 Forbes St Lakeport, CA 95453

    • Hospitals
    • 1,169 SF
    • 0.22 lot acres
    For Sale
    View listing
    $449,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-3177271
    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

    • Heart Institute: Adventist Health Physicians Network / Cardiologist
    • Richard Mayhew Deits / Cardiologist
    • Svetlana Petrowizky, LAC / Acupuncture Clinic
    • Northern California Medical Associates Inc / Cardiologist / Medical Clinic
    • Mark L Md Gardner / Cardiologist

    Property Details for 475 Forbes St

    Year built
    1950
    Construction
    WOOD
    Lot size
    0.22 lot acres
    Property size
    1,169 SF
    Property type
    Hospitals
    APN
    025-373-030-000
    APU
    25373030000

    Description

    This exceptional mixed-use property at 475 Forbes Street in Lakeport, CA, presents a compelling investment opportunity. Spanning 2,000 square feet on a 0.22-acre lot, this charming property comprises two renovated buildings ideally situated just two blocks from the courthouse and the heart of the downtown business district. Currently configured as a medical clinic, the front building offers a welcoming waiting area, three spacious rooms, a full bathroom, and a convenient kitchen. The rear building, while currently leased and unavailable for viewing until further notice (lease expiration date not specified), features two additional rooms and a bathroom. The property boasts ample on-site parking, ensuring convenience for both staff and clients. Accessibility is further enhanced by the inclusion of handicap-accessible ramps. A large shed provides additional storage space. The property's versatile design allows for continued use as a medical clinic or offers the potential for conversion to residential use in the rear building, subject to local zoning regulations and permitting. This prime location and the property's attractive features make it an ideal investment for a variety of commercial and potentially residential uses. The asking price is $449,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $210,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $355,000
      6.5%
      $330,000
      7%
      $305,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $142,000
      Market price range: $42.1k - $143k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $150,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeport
    County
    Lake
    State
    California
    Longitude
    -122.916
    Latitude
    39.0451
    CBSA code
    17340
    CBSA name
    CLEARLAKE, 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
    $5,315
    $111,505
    $317,805
    $429,310
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      HOSPITAL - PRIVATE • 6,000 SF
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    • Value Estimation
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      925 Bevins Ct

      HOSPITAL - PRIVATE • 5,376 SF
      925 Bevins Ct, Lakeport, CA 95453-9754
      View Details
    • Value Estimation
      $210,000
      2,825 SF

      5375 Lakeshore Blvd

      HOSPITAL - PRIVATE • 2,825 SF
      5375 Lakeshore Blvd, Lakeport, CA 95453-6123
      View Details
    • Value Estimation
      $365,000
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      5190 Hl E Rd

      HOSPITAL - PRIVATE • 3,176 SF
      5190 Hl E Rd, Lakeport, CA 95453
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    • Value Estimation
      $190,000
      4,990 SF

      955 Pool St

      HOSPITAL - PRIVATE • 4,990 SF
      955 Pool St, Lakeport, CA 95453-4242
      View Details

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    475 Forbes St
    Lakeport, CA 95453
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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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