Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Ukiah Retail Investment Opportunity Title is generated by Realmo AI

    1178 N State, Ukiah, CA 95482

    View on Map
    Claim this Listing
    For Sale
    $1,450,000

    Multi-tenant retail property on State Street in Ukiah, California.

    Type:Commercial
    Property size:
    10,980 SF
    Lot size:
    0.69 Acres
    Price / SF:
    $132/SF
    Added:
    Sep 15, 2025
    Days on Market:
    263
    Last Refresh:
    Apr 5 at 8:32 pm

    Property Features for 1178 N State

    General Information

    Standard status
    Active
    Size
    10,980 SF
    Lot size
    0.69 Acres
    Property subtype
    Commercial

    We can help!

    Listing Contact
    TODD SCHAPMIRE
    TODD SCHAPMIRE

    Listing agent TODD SCHAPMIRE License #01414195

    Listing office W REAL ESTATE

    Listing date Sep 15, 2025

    Source Corcoran

    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

    HighLights

    • High‑visibility location on busy State Street with State Street frontage and accessibility.
    • Fully occupied by 3 established tenants, providing immediate income and long‑term investment stability.
    • Strategically located near Hwy 101's North State Street exit and other businesses (In N Out, Raley's, Boot Barn, Taco Bell).
    • Multiple buildings totaling 10,980+\/- SF on 0.69 acres.
    • Onsite parking lot for tenant and customer convenience.
    • Includes a 3,500+\/- SF building with 400 amp power, a 1,000+\/-SF outbuilding, and a partially fenced lot.

    Overview

    This multi-tenant retail property is located on State Street in Ukiah. The property includes multiple buildings totaling approximately 10,980 square feet, situated on two contiguous parcels totaling 0.69 acres. The location offers State Street frontage and accessibility in a high-traffic area. The property is fully occupied by three established tenants, providing income and long-term investment stability. 1198 N. State Street is approximately 6,480 square feet, divided into two spaces and positioned on a corner with a monument sign. The adjacent building at 1178 N. State Street is approximately 3,500 square feet and includes 400 amp power, a 1,000 square foot outbuilding, and a partially fenced lot for security. Each space features a glass-lined storefront with front showrooms and back office areas with storage. An onsite parking lot provides convenience for tenants and customers. The property is strategically located on State Street near Highway 101's North State Street exit, with proximity to businesses such as In N Out, Raley's, Boot Barn, and Taco Bell. The corner location provides exposure, making it a valuable asset for leasing potential. The property is an acquisition for investors seeking a stabilized asset with growth potential in a commercial corridor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • Ukiah Crossroads — 1315 N State St, Ukiah, CA 95482
    • Coinstar Kiosk - Bitcoin ATM — 1315 N State St Raley's, Ukiah, CA 95482

    Location Insight

    • Map
    • Local Demand
    City
    Ukiah
    County
    Mendocino
    State
    California
    Longitude
    -123.211
    Latitude
    39.1658

    Nearby Similar for Sale

    • $575,000
      2,676 SF

      Ukiah Commercial Office Property

      Two well-maintained office buildings with income and long-term potential.
      721 S Dora Street, Ukiah, CA 95482
      View Details
    • $289,000
      2,000 SF

      Ukiah Commercial Space For Sale

      Prime commercial space in Ukiah's established business district.
      252 N State, Ukiah, CA 95482
      View Details
    • $450,000

      Established Restaurant Business Opportunity

      Turnkey Vietnamese restaurant with liquor license in Ukiah, California.
      920 N State Street, Ukiah, CA 95482
      View Details
    • $289,000
      2,000 SF

      Downtown Ukiah Commercial Space Available

      Prime commercial space in Ukiah's established business district.
      252 N State Street, Ukiah, CA 95482
      View Details
    • $549,000
      3,530 SF

      Downtown Ukiah Corner Commercial Property

      Prime corner commercial property in the heart of downtown Ukiah.
      290 S School, Ukiah, CA 95482
      View Details
    • $289,000

      Downtown Ukiah Commercial Space Available

      Prime commercial space in Ukiah's established business district.
      252 N State, Ukiah, CA 95482
      View Details
    • $3,900,000
      9,231 SF

      Modern Industrial/Automotive Property in Ukiah

      New industrial/automotive property on 2.53 acres in Airport Business Park.
      1117 Commerce Dr, Ukiah, CA 95482
      View Details
    • $575,000
      2,676 SF

      Dual Office Property For Sale

      Two updated office buildings with income and flexible use.
      721 S Dora Street, Ukiah, CA 95482
      View Details
    • $1,700,000
      14,160 SF

      Highway-Accessible Industrial Investment Opportunity

      Three-building industrial complex near Highway 101 in Ukiah, California.
      2020 Industry, Ukiah, CA 95482
      View Details
    • $449,000
      1,278 SF

      State Street Commercial Space Available

      1,278 sq ft commercial space in high-traffic State Street location.
      735 S State, Ukiah, CA 95482
      View Details
    • $545,000
      2,400 SF

      Historic Ukiah Building For Sale

      Fully leased commercial property in downtown Ukiah with established tenants.
      320 S State, Ukiah, CA 95482
      View Details
    • $349,500
      1,250 SF

      Ukiah Office/Retail Building For Sale

      Two-unit office/retail building near courthouse and downtown Ukiah.
      185 E Church, Ukiah, CA 95482
      View Details

    FAQs

    What type of property is this?
    Shopping center - Multi-tenant retail property on State Street in Ukiah, California.
    Where is this shopping center located?
    The property is located at 1178 N State Ukiah, CA.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: High‑visibility location on busy State Street with State Street frontage and accessibility.; Fully occupied by 3 established tenants, providing immediate income and long‑term investment stability.; Strategically located near Hwy 101's North State Street exit and other businesses (In N Out, Raley's, Boot Barn, Taco Bell).
    5910570
    We can help!
    Listing Contact
    TODD SCHAPMIRE
    TODD SCHAPMIRE
    Real Estate License ID: 01414195
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1178 N State, Ukiah, CA 95482
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!