10470 Lansing Street

Description

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 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-unit building is a touchstone for locals and tourists alike. The property offers 4,400+-sq.ft. of rentable area and is 100% leased. 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 apparel, and the Lansing Street Gallery'' with its 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 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.