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Historic Ukiah Plaza with Income
For Sale
$1,574,000

367 N State, Ukiah, CA 95482

Two-building retail plaza with high cap rate in Ukiah, CA.

Property Size15,000 SF
Lot Size0.28 Acres
Price / SF$104.93
Days on Market407

Property Features for 367 N State

General Information

Standard status Active
Size 15,000 SF
Lot size 0.28 Acres
Property subtype Commercial

Building Details

Year Built 1982
Listing Agency: PALMA PROPERTIES, INC
Listed By: PATRICK J REDA · License #01982497
Source: Corcoran
Added: Jun 19, 2025 Changed: Jul 6 Last Checked: Jul 30 at 8:55AM

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 PALMA PROPERTIES, INC

Investment Insights

Based on property information with market context.

The historic Victory Theater Plaza in Ukiah, California, presents a commercial real estate opportunity with a 9% cap rate. This asset comprises 16 suites spread across two buildings, accompanied by a parking lot with 28 spaces, situated on 0.7 acres. The property includes 367 N State St, originally constructed in 1913 and subsequently renovated and structurally retrofitted into a series of suites, and 387 N State St, built in the 1990s. The property consists of three separate parcels, each zoned C1. Located on State Street, which has recently undergone improvements, the plaza is positioned in an area of growth within Ukiah. Several open suites are available to increase the existing return.

Key Highlights

  • 9% Cap Rate: High‑income potential.
  • Historic Victory Theater Plaza: Trophy asset with renovated historic and newer buildings.
  • 16 Suites & 28 Parking Spaces: Diverse tenant base and ample on‑site parking.

Property Analytics

Current Use

Scott Persons: Allstate ... Insurance Agency Studio 707 Marketing & Advertising Tatouaz Studio Medical Clinic Mudra Massage and Healing ... Alternative Medicine Practice Earth Angel Esthetics Gym & Fitness Center

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Catering Service Grocery & Convenience Store Bakery HVAC Service Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,932
Businesses Nearby
180k
Monthly Visits Nearby
Under-served
Demand for This Use

Foot Traffic Nearby

Apparel 30% Dining 25% Home Improvements & Furnishings 17% Shops & Services 12%
Ross Dress for Less Apparel
35,292 visits/mo 0.4 miles
The Home Depot Home Improvements & Furnishings
30,208 visits/mo 0.4 miles
McDonald's Dining
23,262 visits/mo 0.5 miles
Lucky Supermarkets Groceries
19,841 visits/mo 0.3 miles
Chevron Shops & Services
10,887 visits/mo 0.5 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

Market

Vacancy Rate% for Retail in West region

7% 2020
6.3% 2021
5.5% 2022
5.3% 2023
5.5% 2024
5.8% 2025
Rey
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Similar Off Market Nearby

  • rain forest fantasy — 119 N State St, Ukiah, CA 95482
  • W/E Flowers-Ukiah Flower Shop — 352 N State St, Ukiah, CA 95482

Frequently Asked Questions

What type of property is this?
Storefront property - Two-building retail plaza with high cap rate in Ukiah, CA.
Where is this storefront property located?
The property is located at 367 N State Ukiah, CA.
What is the asking price?
The asking price for this property is $1,574,000.
What are key features of this property?
This property features: 9% Cap Rate: High‑income potential.; Historic Victory Theater Plaza: Trophy asset with renovated historic and newer buildings.; 16 Suites & 28 Parking Spaces: Diverse tenant base and ample on‑site parking.
More about this property
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