10470 Lansing StMendocino, CA 95460

Property Details for 10470 Lansing St

Year built

1887

Lot size

0.19 AC

Property size (Sq ft)

4,400 SF

Property type

Retail properties

Property subtype

Office properties

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.

Location Insight

City

Mendocino

County

Mendocino

State

California

Latitude

39.3062

Longitude

-123.798

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