Highway 101 Visible Restaurant
1550 N Lovers Ukiah, CA 95482
For Sale
$1,500,000
Former restaurant ready for renovation or redevelopment with highway visibility.
Property Size4,200 SF
Price / SF$357.14
Days on Market429
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
(707) 570-9855
Listed By:
TODD SCHAPMIRE · License #01414195
Source:
Corcoran
Added: May 27, 2025
Changed: Mar 16
Last Checked: Jul 4 at 4:11AM
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.
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 For Specialty Retail
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 | $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
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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.
