10470 Lansing St Mendocino, CA 95460
- Retail properties
- 4,400 SF
- 0.19 lot acres
Current Use by Public Records
- Retail properties
Property Details for 10470 Lansing St
- Year built
- 1887
- Lot size
- 0.19 lot acres
- Property size
- 4,400 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mendocino
- County
- Mendocino
- State
- California
- Longitude
- -123.798
- Latitude
- 39.3062
