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    10470 Lansing St Mendocino, CA 95460

    For Sale
    $1,800,000

    Historic storefront, 5 tenants, high NOI.

    Property size:
    4,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Kellieowen Hall, a historic Mendocino Village property at 10470 Lansing St, Mendocino, CA 95460, presents a unique investment opportunity. This 4,400 square foot storefront building, constructed in 1887, boasts a prime location at the southwest corner of Lansing and Ukiah Streets, in the heart of the village. Currently operating at 100% occupancy with five tenants, the property generates a strong net operating income (NOI) exceeding $122,000 annually, representing a 6.78% cap rate. The asking price is $1,800,000, or $409.09 per square foot, and $360,000 per unit. Two major tenants, a high-end apparel store and an art gallery, anchor the building, providing significant visibility and stability. Additional tenants include an e-bike rental shop, a hat shop, and a real estate brokerage. The property includes a 2,000+ square foot deck, offering outdoor space for tenants and customers. The 0.19-acre lot is zoned MC. This is a chance to acquire a piece of Mendocino history and a proven, high-performing investment property. Note that the businesses themselves are not for sale. APN: 1192360700.

    Property Features for 10470 Lansing St

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,400 SF
    Lot Size
    8,276 SF

    Building Details

    Year Built
    1887
    Buildings
    1
    Units
    5

    HighLights

    • 4,400+-sq. ft. building, 100% occupied.
    • Prime Mendocino Village location at the corner of Lansing & Ukiah Streets.
    • Strong NOI exceeding $122,000 annually, 6.78% cap rate.
    • Asking price: $1,800,000 ($409.09/sq. ft., $360,000/unit).
    • 0.19‑acre lot, MC zoning.
    • Includes a 2,000+ sq. ft. deck.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Building Supply Dental Office Wholesale Shop Hair Salon Law Firm Auto Parts Store Realty agency Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mendocino
    County
    Mendocino
    State
    California
    Longitude
    -123.79847572756
    Latitude
    39.306159460922

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    FAQs

    What type of property is this?
    Individual retail property - Historic storefront, 5 tenants, high NOI.
    Where is this individual retail property located?
    The property is located at 10470 Lansing St Mendocino, CA.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: 4,400+-sq. ft. building, 100% occupied.; Prime Mendocino Village location at the corner of Lansing & Ukiah Streets.; Strong NOI exceeding $122,000 annually, 6.78% cap rate.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10470 Lansing St Mendocino, CA 95460
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