45094 Main StMendocino, CA 95460
- Retail properties
- 0.10 AC
Property Details for 45094 Main St
- Lot size
- 0.10 AC
- Property type
- Retail properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,756,751
- 6.5%
- $1,621,616
- 7%
- $1,505,786
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,014,261
- Geo Method
- $1,567,313
-
Alternative Use
- Use
- Valuation
- Residential
- $1,367,894
- Hospitality
- $1,252,984
- Educational
- $1,042,468
- Medical
- $1,078,320
- Retail
- $1,621,616
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
Comparable in this City
Similar Nearby for Sale
FAQs
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