216 Perkins StUkiah, CA 95482

Property Details for 216 Perkins St

Lot size

0.08 AC

Property type

Office properties

Property subtype

Other office properties

APN

002-222-11-00

APU

22221100

Description

This exceptional investment opportunity presents a classic two-story commercial building situated in the heart of downtown Ukiah, California. The property, located at 216 W Perkins Street, boasts a prime corner location on Ukiah's main thoroughfare, Perkins Street, offering excellent visibility and accessibility. Just a block from School Street and less than a mile from the freeway, this location provides unparalleled convenience. The building encompasses approximately 5,618 square feet and comprises fifteen individual office units. Currently, several long-term tenants occupy the building, providing a stable income stream. However, a number of vacant units present a significant opportunity for an owner-user to occupy space or for an investor to increase rental income through lease-up. Across the street is a convenient city/public parking lot, adding to the property's appeal. The 0.13-acre lot ensures ample space for the building and its tenants. This prime downtown location offers enduring appeal, making it an attractive investment for those seeking long-term growth and a strong return on investment. The building's established tenant base and strategic location combine to create a compelling opportunity in a thriving downtown area. The vacant units offer immediate upside potential for increased revenue. This property is an ideal investment for both owner-occupiers and passive investors seeking a stable and potentially high-growth asset.

• CAP approach

  CAP return

  Valuation

  6%

  $906,178

  6.5%

  $836,472

  7%

  $776,724

• Comparable approach

  Method

  Valuation

  Relative Method

  $606,088

  Geo Method

  $471,602

• Alternative Use

  Use

  Valuation

  Residential

  $1,037,225

  Hospitality

  $950,093

  Educational

  $790,466

  Medical

  $817,651

  Retail

  $1,229,614

Location Insight

City

Ukiah

County

Mendocino

State

California

Latitude

39.1499

Longitude

-123.209

CBSA code

46380

CBSA name

UKIAH, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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