10470 Lansing St, Mendocino, CA 95460

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.