888 Main StFort Bragg, CA 95437
- Hospitality properties
- 18,931 SF
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
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
Comparable in this City
Similar Nearby for Sale
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