Highway 101 Visible Restaurant
For Sale
$1,500,000
1550 N Lovers, Ukiah, CA 95482
Former restaurant ready for renovation or redevelopment with highway visibility.
Property Size4,200 SF
Price / SF$357.14
Days on Market506
Property Features for 1550 N Lovers
General Information
Standard status
Active
Size
4,200 SF
Building Details
Year Built
1963
Listing Agency:
W REAL ESTATE
Listed By:
TODD SCHAPMIRE · License #01414195
(707) 570-9855
Source:
Corcoran
Added: May 27, 2025
Changed: Mar 16
Last Checked: Oct 12 at 7:25PM
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.
This property, formerly a restaurant, is strategically located with Highway 101 visibility, suitable for renovation or redevelopment. Situated immediately off the North State Street exit in Ukiah, it benefits from high visibility and pedestrian traffic, with an average of over 40,000 vehicles passing per day. The 4,200-square-foot building includes multiple dining areas and entryways, a banquet room, a service counter, a commercial kitchen, restrooms, and a gated patio. The 0.62-acre corner lot features multiple entrances and a generous on-site parking lot. Located two hours north of the Golden Gate Bridge, Ukiah serves as the county seat and economic hub of Mendocino County. This property presents an opportunity for restaurant owners, entrepreneurs, and developers to capitalize on the region's evolving landscape.
Key Highlights
- High visibility location directly off Highway 101 with 40,000+ vehicles per day.
- 0.62 acre corner lot with multiple entrances and ample parking.
- Existing 4,200 sq ft building suitable for renovation or redevelopment.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,110
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,102,200
$2.1M
Cap Rate 7%
$1,501,571
$1.5M
Cap Rate 9%
$1,167,889
$1.2M
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$156.2K $37.20/SF
− Vacancy
−$16.1K −$3.83/SF
EGI
$140.1K $33.37/SF
− OpEx
−$35.0K −$8.34/SF
NOI
$105.1K $25.03/SF
Area
Mendocino County, CA
Vacancy
10.30%
Lease Rate
$37.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,102,200
Cap Rate 7%
$1,501,571
Cap Rate 9%
$1,167,889
Alternative Uses
Best Use
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,110 @ 7.0% cap · market cap 7.01%
Second Best
Retail
$117.5K
$102.9K – $137.1K
NOI $8,228 @ 7.0% cap · market cap 0.55%
Theoretical Best
Flex RnD
$1.57M
$1.37M – $1.83M
NOI $109,916 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
244k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 21%
Groceries 19%
Home Improvements & Furnishings 8%
In-N-Out Burger
Dining
43,902 visits/mo
0.1 miles
Raley's
Groceries
34,291 visits/mo
0.1 miles
Taco Bell
Dining
18,300 visits/mo
0.3 miles
McDonald's
Dining
18,287 visits/mo
0.1 miles
Speedway
Shops & Services
17,478 visits/mo
0.1 miles
Demographics for 95482, CA
33,276
Population
13,143
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
84%
High-School Grad
294.2 sq mi
ZIP Area
113
Density / Sq Mi
$70,063
Median Household Income
$38,707
Median Earnings
$1,335
Median Rent
$473,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Zack's Catering — 1550 N Lovers Ln, Ukiah, CA 95482
Frequently Asked Questions
What type of property is this?
Restaurant - Former restaurant ready for renovation or redevelopment with highway visibility.
Where is this restaurant located?
The property is located at 1550 N Lovers Ukiah, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High visibility location directly off Highway 101 with 40,000+ vehicles per day.; 0.62 acre corner lot with multiple entrances and ample parking.; Existing 4,200 sq ft building suitable for renovation or redevelopment.
