Building Details

Tenancy Multi

Listing Agency: Pamela Hudson Real Estate

Listed By: Pam Hudson · License #01036573 Show Phone

Source: Myfabuloushome

Added: Jul 16 Changed: Oct 7 Last Checked: Oct 7 at 3:10PM

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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 Pamela Hudson Real Estate

Investment Insights

Based on property information with market context.

This multi-building storefront property includes five separate tenant spaces, anchored by an established restaurant operation. The upstairs Flow restaurant features a full bar and panoramic views of the Pacific Ocean. The property is professionally managed and includes an on-site well with water storage, along with service from the public sewer system.

The property adjoins the Kelley House Museum, with a pond situated between the two properties. An access path runs from Albion Street along the northern boundary down to Main Street, creating a distinct approach to the individual business units.

Key Highlights

• Multi‑building storefront property with five separate tenants
• Upstairs Flow restaurant includes a full bar and panoramic Pacific Ocean views
• Next to the Kelley House Museum, with a pond between the properties

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$184,644

Cap Rate

8.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,692,880 $3.7M

Cap Rate 7%

$2,637,771 $2.6M

Cap Rate 9%

$2,051,600 $2.1M

Market Conditions

NOI Build-Up for 7,378 SF

Gross rent

$274.5K $37.20/SF

− Vacancy

−$28.3K −$3.83/SF

EGI

$246.2K $33.37/SF

− OpEx

−$61.5K −$8.34/SF

NOI

$184.6K $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%

$3,692,880

Cap Rate 7%

$2,637,771

Cap Rate 9%

$2,051,600

Alternative Uses

Best Use

Specialty Retail

$2.64M

$2.31M – $3.08M (±1% cap)

NOI $184,644 @ 7.0% cap · market cap 8.21%

Second Best

Retail

$206.5K

$180.7K – $240.9K (±1% cap)

NOI $14,454 @ 7.0% cap · market cap 0.64%

Theoretical Best

Flex RnD

$2.76M

$2.41M – $3.22M (±1% cap)

NOI $193,086 @ 7.0% cap · market cap 8.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flow | Restaurant & Lounge Restaurant

Suggested Use

Top Pick Parking Lot & Garage Electrical Service Plumbing Service (Bike/Boat/Book/etc) Store Auto Parts Store Bakery

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

Lease Details

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

407

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 95460, CA

2,364

Population

1,401

Households

1.7

Avg Household Size

59

Median Age

40%

College-Educated

93%

High-School Grad

34.6 sq mi

ZIP Area

68

Density / Sq Mi

$68,478

Median Household Income

$42,760

Median Earnings

$1,908

Median Rent

$666,200

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

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Multiple buildings support five established tenants, including a restaurant with a full bar and Pacific Ocean views.

Where is this storefront property located?

The property is located at 45040 Main St Mendocino, CA.

What is the asking price?

The asking price for this property is $2,250,000.

What are key features of this property?

This property features: Multi‑building storefront property with five separate tenants; Upstairs Flow restaurant includes a full bar and panoramic Pacific Ocean views; Next to the Kelley House Museum, with a pond between the properties