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Property profile & analytics
FOR SALE
Retail space

45094 Main St Mendocino, CA 95460

0.1 ac lot
Entity Owned 11-yr Hold Absentee Owner Free & Clear
Property ID
US09-2491981
Property summary
AI-generated overview

This exceptional mixed-use property, located at 45094 Main Street in the heart of Mendocino, California, presents a unique investment opportunity. The building, historically significant as a local drug store, soda fountain, and high-end home furnishings store, has undergone a complete rebuild and conversion into a multi-use commercial/residential complex. The property boasts four distinct suites, each with Main Street frontage and private access from Albion Street. The ground floor commercial space, currently divided into two units, features an internal walkway connecting the two, allowing for flexible configurations. Prominent signage is visible from both Main and Albion Streets, enhanced by a pedestrian walkway linking the two streets, ensuring high visibility for businesses. The upper level, previously commercial, has been converted to residential use with conditional CDP approval. This residential space comprises two independent suites, each with a full bathroom, showcasing stunning hardwood floors and vaulted ceilings. Modern upgrades include utility runs for two separate kitchens, a forced-air heating system, and CAT5 cabling throughout. Currently fully vacant, this property offers a blank canvas for a new owner to realize their vision, capitalizing on the meticulously executed building improvements and prime Mendocino location. The property sits on a 0.1-acre lot. The asking price is $2,995,000.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Lot 0.1 ac (4,356 SF)
APN 119-238-21-00
UPID US09-2491981
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Landbank Properties No 2 LP · 11 yrs held
Landbank Properties No 2 LP
since 2015
7 recorded transactions
2015
Price N/A
2012
$735,000
2011
$700,000
2008
Price N/A
2006
Price N/A
2006
Price N/A
2004
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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