475 Forbes StLakeport, CA 95453

Property Details for 475 Forbes St

Year built

1950

Construction

WOOD

Lot size

0.22 AC

Property size (Sq ft)

1,169 SF

Property type

Healthcare properties

Property subtype

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.

• CAP approach

  CAP return

  Valuation

  6%

  $313,499

  6.5%

  $289,384

  7%

  $268,713

• Comparable approach

  Method

  Valuation

  Relative Method

  $246,683

  Geo Method

  $191,946

• Alternative Use

  Use

  Valuation

  Residential

  $367,096

  Hospitality

  $336,258

  Educational

  $279,762

  Medical

  $289,384

  Retail

  $435,186

Location Insight

City

Lakeport

County

Lake

State

California

Latitude

39.0451

Longitude

-122.916

CBSA code

17340

CBSA name

CLEARLAKE, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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