10470 Lansing St - Storefront FOR SALE


Mendocino, CA 95460
$1,800,000 USD
707-489-7027
10470 Lansing St, Mendocino, CA for Sale
$1,800,000 USD
Storefront - FOR SALE
1/24
null | Request Cap Rate

10470 Lansing St
Mendocino, CA 95460


HIGHLIGHTS

  • Long history of 100% occupancy
  • Hub of the business district
  • Piece of Mendocino History

OVERVIEW

For the first time in more than 50 years, a key investment property in downtown Mendocino is available for purchase. This historic property, known as Kellieowen Hall, is located on the southwest corner of Lansing and Ukiah Streets at the center of the Village of Mendocino. It was built in 1887 by William H. Kelley and has served as the hub of the business district in the community. The five-tenant building is a touchstone for locals and tourists alike. The property offers 4,400 +-sq. ft. of rentable area and is 100% leased and occupied. The building is anchored by two established major tenants with frontage at the corner of Lansing and Ukiah streets. “The Study Club”, with its focus on high-end and unique apparel, and the “Lansing Street Gallery” with its equally unique art and handcrafted furniture, are two of the most visible business in Mendocino. Additional tenants include an e-bike rental (and oddity) shop, a long-time hat shop, and established real estate brokerage. The southside of the building includes a 2,000+- decking that provides a walkway to nearby properties and an outdoor area for use by customers and businesses alike. Grossing over $122,000 per year (with strong upside potential), the Kellieowen Hall offers the opportunity not only to own a piece of Mendocino history, but to secure an excellent investment as well. Businesses are not for sale.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$409 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kellieowen Hall

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1887

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

MC - Mendocino Commercial

APN/PARCEL ID

1192360700

ASK ABOUT THIS PROPERTY

Greg BurkeMendo Sotheby’s International RealtyMore Info
707-489-7027

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Greg BurkeMendo Sotheby’s International RealtyMore Info
707-489-7027

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.