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    45094 Main Street Mendocino, CA 95460

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    Claim this Listing
    For Sale
    $2,995,000

    Commercial Sale, Other - Mendocino, CA

    Type:Mixed Use
    Property size:
    4,000 SF
    Added:
    Apr 1, 2026
    Days on Market:
    18
    Last Refresh:
    Apr 18 at 12:06 am

    Property Features for 45094 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    APN
    1192382100
    Size
    4,000 SF

    Utilities

    Heating system
    Forced Air
    Cooling system
    None (Cooling)
    Water front features
    Beach Front|Ocean Front, Beach Front|Ocean Front

    Building Details

    Year built
    1800
    Architectural style
    Other

    We can help!

    Listing Contact
    Kelley Urbani

    Listing agent Kelley Urbani

    Listing office Engel & Völkers Mendocino 10483 Lansing Street, Mendocino, CA

    Listing date Apr 1, 2026

    MLS# C1-11318 Listing URL

    Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Iconic Mendocino Village Landmark

    Located in the heart of Mendocino Village, the 'Golden Goose' building offers a unique opportunity to acquire a legacy asset. This landmark property has evolved with the community, previously serving as a drug store, general store, home furnishings destination, and gallery space. Following a comprehensive rebuild in 2012, the property combines historic architecture with modern infrastructure. The building encompasses approximately 4,000 square feet and is configured into four suites, providing flexibility for multiple income streams or a single-user concept. The ground floor features Main Street frontage, large picture windows, and dual access from Albion Street, suitable for retail, hospitality, or a flagship brand presence. The upper level includes two private suites with conditional approval for residential use. Permitted improvements are underway, including the addition of an employee break room within the ocean-view suite, designed to function as a future kitchen for potential residential use. Character and craftsmanship are evident throughout, with hardwood floors, vaulted ceilings, and artisan details. Modern systems include forced air heating, ADA-compliant features, CAT5 cabling, and interior sound. The property supports a range of business or mixed-use applications and is ready for its next chapter as a commercial presence, mixed-use investment, or live/work coastal retreat.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Building Supply Dental Office Big Box & Wholesale Store Hair Salon Law Firm Auto Parts Store Real Estate Agency Nail Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mendocino
    County
    Mendocino
    State
    California
    Longitude
    -123.800983
    Latitude
    39.305008

    Nearby Similar for Sale

    • $2,250,000
      7,378 SF

      Mendocino Main Street Trophy Property

      Commercial property with multiple buildings and tenants in Mendocino, CA.
      45040 Main Street, Mendocino, CA 95460
      View Details
    • $2,950,000
      3,235 SF

      Mendocino Mixed-Use Property with Business

      Unique mixed-use property with residence, commercial space, and thriving business.
      45070 Main Street, Mendocino, CA 95460
      View Details
    • $1,675,000
      5,870 SF

      Historic Mendocino Investment Property

      Key downtown Mendocino investment property, 100% leased, historic Kellieowen Hall.
      10470 Lansing St, Mendocino, CA 95460
      View Details
    • $1,500,000
      5,780 SF

      Historic Mendocino Investment Opportunity

      Prime Mendocino commercial property with strong rental income.
      10470 Lansing Street, Mendocino, CA 95460
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Historic mixed-use building in central Mendocino with modern upgrades.
    Where is this mixed-use property located?
    The property is located at 45094 Main Street Mendocino, CA.
    What is the asking price?
    The asking price for this property is $2,995,000.
    What are key features of this property?
    This property features: Iconic landmark building in the center of Mendocino Village with Main Street frontage and dual access.; Comprehensive rebuild in 2012 blending historic architecture with modern infrastructure.; Approximately 4,000 sq ft configured into four suites, offering income potential or single‑user occupancy.
    (707) 813-4406
    We can help!
    Listing Contact
    Kelley Urbani
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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