45094 Main StMendocino, CA 95460

  • Retail properties
  • 0.10 AC
For Sale
$2,995,000 View listing

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
45094 Main St, Mendocino, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$10,712
$501,017
$409,996
$911,013
-
-
-
-

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].