281 Main StVentura, CA 93001

Property Details for 281 Main St

Year built

1947

Lot size

0.13 AC

Property size (Sq ft)

2,419 SF

Zone code

MXD

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

071-0-173-030

APU

710173030

Description

This exceptional 3,667 square foot mixed-use property at 281 Main Street, Ventura, CA, presents a lucrative investment opportunity. Located in the heart of beautiful Downtown Ventura, this established venue boasts a rich history as a successful cocktail lounge, breakfast and coffee house, and several thriving nightclubs. Currently configured as a premium event space, it's perfectly suited for weddings, corporate events, live music performances, and upscale social gatherings. The property includes beautifully landscaped gardens complete with a gazebo, ideal for ceremonies and cocktail hours. Significant upgrades have been made throughout the venue, ensuring a high level of elegance and functionality. A valuable liquor license is included in the sale. Adding to the investment appeal are two completely remodeled rental units generating consistent income. Ample parking is available, including a dedicated parking lot and two two-car garages. This turnkey operation is ready for a new owner to capitalize on its established reputation and prime location. The asking price is $2,799,000. This is a rare chance to acquire a thriving business with significant income potential in a highly desirable Ventura location. Don't miss this opportunity to own a piece of Ventura's vibrant downtown scene.

• CAP approach

  CAP return

  Valuation

  6%

  $724,167

  6.5%

  $668,462

  7%

  $620,715

• Comparable approach

  Method

  Valuation

  Relative Method

  $459,997

  Geo Method

  $459,997

• Alternative Use

  Use

  Valuation

  Residential

  $828,893

  Hospitality

  $759,261

  Educational

  $631,696

  Medical

  $653,422

  Retail

  $982,639

Location Insight

City

Ventura

County

Ventura

State

California

Latitude

34.2818

Longitude

-119.305

CBSA code

37100

CBSA name

OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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