Ultimately the site is worth whatever you get paid for it.
To get an idea of what others are getting for similar sized sites: http://www.sitepoint.com/marketplace/ . I really haven't seen another market for small companies like sitepoint's.
Mind you, this is just from poking around on sitepoint's site, but from what I understand 1-3x annual earnings is fairly typical for companies like yours. But, it also depends on what your page range is, how many different sources of revenue and traffic you have.
For instance, a company with a high page rank one search engine will be worth less than a company with a high page rank on all 3 major search engines. High page rank on multiple engines means multiple sources of traffic and your site is less likely to suffer next time one of the engines reshuffles their rankings.
Also, if you have multiple streams of revenue, that increases your valuation as well. For example, if all of a site's revenue is coming from Adsense, then the site tends to be valued less than if you have multiple streams from different sources. If you're using some affiliate networks, direct advertising as well as Adsense that increases your multiples. Why? Because your revenue stream is diversified and less likely to suffer suddenly.
To get an idea of what others are getting for similar sized sites: http://www.sitepoint.com/marketplace/ . I really haven't seen another market for small companies like sitepoint's.
Mind you, this is just from poking around on sitepoint's site, but from what I understand 1-3x annual earnings is fairly typical for companies like yours. But, it also depends on what your page range is, how many different sources of revenue and traffic you have.
For instance, a company with a high page rank one search engine will be worth less than a company with a high page rank on all 3 major search engines. High page rank on multiple engines means multiple sources of traffic and your site is less likely to suffer next time one of the engines reshuffles their rankings.
Also, if you have multiple streams of revenue, that increases your valuation as well. For example, if all of a site's revenue is coming from Adsense, then the site tends to be valued less than if you have multiple streams from different sources. If you're using some affiliate networks, direct advertising as well as Adsense that increases your multiples. Why? Because your revenue stream is diversified and less likely to suffer suddenly.