45094 Main StMendocino, CA 95460

Property Details for 45094 Main St

Lot size

0.10 AC

Property type

Retail space

APN

119-238-21-00

APU

1192382100

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,338,290

  6.5%

  $1,235,350

  7%

  $1,147,110

• Comparable approach

  Method

  Valuation

  Relative Method

  $831,282

  Geo Method

  $646,828

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,376,710

  Mixed-Use / Specialty

  $1,244,010

  Hospitality / Lodging

  $929,700

  Office

  $1,250,230

  Institutional / Educational

  $1,297,940

  Residential Income

  $1,518,580

  Multifamily

  $1,748,870

  Automotive / Energy

  $1,112,520

  Parking / Income-Based Land

  $371,007

  Restaurant / Food Service

  $674,903

  Healthcare / Senior Housing

  $1,262,310

Location Insight

City

Mendocino

County

Mendocino

State

California

Latitude

39.305

Longitude

-123.801

CBSA code

46380

CBSA name

UKIAH, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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