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Highway 101 Visible Restaurant Property

1550 N Lovers Ukiah, CA 95482

1550 N Lovers, Ukiah, CA, 95482

$1,500,000

For Sale

$1,500,000

Former restaurant ready for renovation or redevelopment with highway visibility.

Property Size4,200 SF

Price / SF$357.14

AddedMay 27, 2025

Days on Market415

Last RefreshMar 16 at 9:09 am

Property Features for 1550 N Lovers

General Information

Standard status: Active
Size: 4,200 SF

Building Details

Year Built: 1963

Listing office W REAL ESTATE

Listing date May 27, 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

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.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$156.2k	$37.20
− Vacancy	−$16.1k	−$3.83
EGI	$140.1k	$33.37
− OpEx	−$35.0k	−$8.34
NOI	$105.1k	$25.03

4,200 SF · lease $37.20/SF/yr · vacancy 10.30% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $105,110 @ 7.0% cap · market cap 7.01%

Second Best

Retail

$117.5K

$102.9K – $137.1K (±1% cap)

NOI $8,228 @ 7.0% cap · market cap 0.55%

Theoretical Best

Flex RnD

$1.57M

$1.37M – $1.83M (±1% cap)

NOI $109,916 @ 7.0% cap · market cap 7.33%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Zack's Catering Take-out & Catering Jensen's Restaurant Restaurant

Suggested Use

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Similar Off Market Nearby

Zack's Catering — 1550 N Lovers Ln, Ukiah, CA 95482

For sale
Restaurants
CA
Ukiah
95482
1550 N Lovers

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.