302 Main StLakeport, CA 95453

Property Details for 302 Main St

Year built

1884

Construction

TILT-UP CONCRETE

Lot size

0.09 AC

Property size (Sq ft)

4,480 SF

Property type

Retail properties

Property subtype

Retail space

APN

025-383-190-000

APU

25383190000

Description

This exceptional mixed-use property, located at 302 N Main Street in the heart of downtown Lakeport, California, presents a unique investment opportunity. Situated on a 0.09-acre lot, this meticulously renovated building seamlessly blends historic character with contemporary amenities. A complete renovation from 2018 to 2022 spared no expense, resulting in a high-quality, modern masterpiece. The main level boasts fabulous retail or gallery space, ideal for a variety of businesses. This area features soaring 13-foot ceilings, showcasing gorgeous historic brick walls, complemented by modern high-end lighting, mini-split heating/cooling systems, ample storage, and a restroom. Upstairs, two luxury apartments, currently thriving as five-star vacation rentals, offer a separate street entrance and provide additional income potential. The property's prime location offers unparalleled visibility and accessibility, just steps from Lakeport's vibrant downtown area, including dining, shopping, and recreational activities. This is an exceptional chance to acquire a turnkey investment in Lake County's growing commercial real estate market, combining the allure of a historic building with the functionality of modern upgrades. The property is priced at $1,200,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,806,759

  6.5%

  $1,667,778

  7%

  $1,548,651

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,071,600

  Geo Method

  $1,611,929

• Alternative Use

  Use

  Valuation

  Residential

  $1,406,833

  Hospitality

  $1,288,652

  Educational

  $1,072,143

  Medical

  $1,109,016

  Retail

  $1,667,778

Location Insight

City

Lakeport

County

Lake

State

California

Latitude

39.044

Longitude

-122.915

CBSA code

17340

CBSA name

CLEARLAKE, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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