723 Main StWoodland, CA 95695

Property Details for 723 Main St

Year built

1903

Construction

TILT-UP CONCRETE

Lot size

0.39 AC

Property size (Sq ft)

36,017 SF

Zone code

CBD

Property type

Office properties

Property subtype

Office buildings

APN

005-224-004-000

APU

5224004000

Description

This exceptional mixed-use investment opportunity presents a remarkable 36,017 square foot, four-story building located at 723 Main Street in Woodland, California. Built in 1906 and renovated in 1982, this Class B property boasts a prominent location within the Woodland Downtown District, potentially offering tax advantages (verification with the city is recommended). The building, situated on a 0.39-acre lot, features 56 units across four floors, including a basement, and currently enjoys an 80% occupancy rate, projected to continue until January 1, 2025. The property includes 23 parking spaces and is zoned for office use. Currently housing a diverse range of 45 tenants, including a significant anchor tenant, the building offers a strong net operating income (NOI) of $255,000, with an asking price of $2,779,000 ($77.16 per square foot). The building's diverse tenancy includes businesses such as a cheesesteak restaurant, computer repair, web design, network services, legal offices, photography studio, accounting firms, construction company, driving school, custom shirt printing, and a tattoo shop. Many tenants have established long-term presences. Opportunities exist to enhance cash flow by subdividing some larger suites. Rent bumps are in place. This landmark property, listed on the National Register of Historic Places, presents a unique chance to acquire a well-established, income-producing asset in a thriving downtown area. The APN is 005-224-004.

• CAP approach

  CAP return

  Valuation

  6%

  $6,491,060

  6.5%

  $5,991,748

  7%

  $5,563,766

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,142,508

  Geo Method

  $5,142,508

• Alternative Use

  Use

  Valuation

  Residential

  $7,429,767

  Hospitality

  $6,805,627

  Educational

  $5,662,202

  Medical

  $5,856,934

  Retail

  $8,807,869

Location Insight

City

Woodland

County

Yolo

State

California

Latitude

38.6778

Longitude

-121.771

CBSA code

40900

CBSA name

SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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