888 Main StFort Bragg, CA 95437

  • Hospitality properties
  • 18,931 SF
For Sale
$7,500,000 View listing

Property Details for 888 Main St

Year built
1969
Construction
WOOD
Lot size
1.19 AC
Property size (Sq ft)
18,931 SF
Property type
Hospitality properties
Property subtype
Hotels
APN
018-120-42-00
APU
181204200

Description

This exceptional 53-key Super 8 by Wyndham hotel in Fort Bragg, CA, presents a compelling investment opportunity. Located on historic Highway 1, directly across from the Pacific Ocean, the property boasts stunning views of redwood forests and easy access to renowned Northern California attractions like Mendocino and Glass Beach. Built in 1984 and encompassing 25,828 square feet on a 1.19-acre lot, this two-story building offers significant value-add potential in a high barrier-to-entry coastal market. The hotel benefits from a strong in-place cash flow, further enhanced by rental income generated through a long-term restaurant lease. The asking price is $7,500,000, translating to $290.38 per square foot. This AAA-approved hotel represents a rare chance to acquire a recently renovated asset in a desirable location, offering a discount to replacement cost. The property's permitted zoning is N0. The property includes one building and features 53 keys. This is a unique opportunity to capitalize on the strong demand in this thriving coastal market. The property's APN is 018-120-42-00. The address is 888 S Main St, Fort Bragg, CA 95437.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $5,899,200
    6.5%
    $5,445,416
    7%
    $5,056,458
  • Comparable approach

    Method
    Valuation
    Relative Method
    $8,163,358
    Geo Method
    $6,351,975
  • Alternative Use

    Use
    Valuation
    Residential
    $5,944,812
    Hospitality
    $5,445,416
    Educational
    $4,530,522
    Medical
    $4,686,334
    Retail
    $7,047,478
888 Main St, Fort Bragg, California

Location Insight

City
Fort Bragg
County
Mendocino
State
California
Latitude
39.4298
Longitude
-123.806
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
$35,328
$1,072,201
$1,935,666
$3,007,867
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-
-
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