1102 S Main St
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1102 S Main St
6,079 SF 100% Leased Office Building Fort Bragg, CA 95437 £684,644 (£113/SF) 8.22% Net Initial Yield
Investment Highlights
- Location and large parking lot-Views of Harbor and to the west Ocean.
Executive Summary
The prestigious Riverview Building offers excellent harbor views from the back and ocean views from the front. It is currently occupied by long-term tenants, providing a stable income, and boasts a low vacancy rate, making it an attractive investment opportunity. The building consists of eight units, many of which have been upgraded with new paint, flooring, and roofing completed this year. Additionally, lenders may be willing to finance a portion of the investment.
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Financial Summary (Pro forma - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£68,089
|
£11.20
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£2,347
|
£0.39
|
| Effective Gross Income |
£65,741
|
£10.81
|
| Taxes |
£6,315
|
£1.04
|
| Operating Expenses |
£10,954
|
£1.80
|
| Total Expenses |
£17,269
|
£2.84
|
| Net Operating Income |
£48,472
|
£7.97
|
Financial Summary (Pro forma - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £68,089 |
| Annual Per SF | £11.20 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £2,347 |
| Annual Per SF | £0.39 |
| Effective Gross Income | |
|---|---|
| Annual | £65,741 |
| Annual Per SF | £10.81 |
| Taxes | |
|---|---|
| Annual | £6,315 |
| Annual Per SF | £1.04 |
| Operating Expenses | |
|---|---|
| Annual | £10,954 |
| Annual Per SF | £1.80 |
| Total Expenses | |
|---|---|
| Annual | £17,269 |
| Annual Per SF | £2.84 |
| Net Operating Income | |
|---|---|
| Annual | £48,472 |
| Annual Per SF | £7.97 |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
6,079 SF
Building Class
C
Year Built/Renovated
1968/2018
Price
£684,644
Price Per SF
£113
Net Initial Yield
8.22%
NOI
£56,274
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
3,040 SF
Building FAR
0.14
Lot Size
1.01 AC
Zoning
HC - Highway Commercial
Parking
20 Spaces (3.29 Spaces per 1,000 SF Leased)
Amenities
- Balcony
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Petersen Law Office
- Professional, Scientific, and Technical Services
- -
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Petersen Law Office | Professional, Scientific, and Technical Services | - | - | - |
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1102 S Main St
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