Historic Mixed-Use Building in
102 S State Ukiah, CA 95482
For Sale
$1,600,000
Iconic downtown Ukiah building with mixed-use space for sale.
Property Size11,146 SF
Lot Size0.13 Acres
Price / SF$143.55
Days on Market273
Property Features for 102 S State
General Information
Standard status
Active
Size
11,146 SF
Lot size
0.13 Acres
Property subtype
Commercial
Building Details
Year Built
1889
Listing Agency:
W REAL ESTATE
3800003
Listed By:
ERIC GARBOCCI · License #01099717
Source:
Corcoran
Added: Oct 30, 2025
Changed: Jul 10
Last Checked: Jul 29 at 9:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of W REAL ESTATE
Investment Insights
Based on property information with market context.
Located in downtown Ukiah, the historic Marks Building is a two-story brick structure constructed in 1889. The building offers over 11,000 square feet of mixed-use space on a corner lot with high visibility and steady foot traffic. The ground floor accommodates an established business. The second floor is configured with approximately sixteen professional office suites, offering flexibility for a variety of tenants or future reconfiguration. The property has nearly 150 feet of frontage along State Street. The property sits on a 0.13-acre lot zoned C2 - Mixed Use, allowing for retail, restaurant, or office uses, and presents a strong opportunity for both investors and owner-occupants seeking an income-producing downtown asset.
Key Highlights
- Iconic historic building (Marks Building, built 1889) in the heart of downtown Ukiah.
- High visibility corner lot with steady foot traffic on a busy street.
- Mixed‑use zoning (C2) allowing for retail, restaurant, or office uses.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $240.8k | $21.60 |
| − Vacancy | −$24.1k | −$2.16 |
| EGI | $216.7k | $19.44 |
| − OpEx | −$81.3k | −$7.29 |
| NOI | $135.4k | $12.15 |
11,146 SF · lease $21.60/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$2.31M
$2.02M – $2.70M
NOI $161,810 @ 7.0% cap · market cap 10.11%
Second Best
Mixed Use
$1.93M
$1.69M – $2.26M
NOI $135,424 @ 7.0% cap · market cap 8.46%
Theoretical Best
Flex RnD
$4.17M
$3.65M – $4.86M
NOI $291,697 @ 7.0% cap · market cap 18.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Iconic downtown Ukiah building with mixed-use space for sale.
Where is this mixed-use property located?
The property is located at 102 S State Ukiah, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Iconic historic building (Marks Building, built 1889) in the heart of downtown Ukiah.; High visibility corner lot with steady foot traffic on a busy street.; Mixed‑use zoning (C2) allowing for retail, restaurant, or office uses.
