Office and Retail Space in Mammoth Lakes is currently abundant depending on the type of use you are looking for. I’ve broken Mammoth Lakes down into three commercial districts as each of these areas has a personality all their own: The Old Mammoth District, The Main Street District and The Village at Mammoth.
Availability and pricing changes from district to district, but each tends to follow a pricing structure whereby there is a “minimum rent” (base rent) coupled with a Common Area and Maintenance Fee (CAM). For those not familiar with leasing this called a NNN or Triple Net Lease. In short, the tenant pays a base rent and fees such as taxes, snow removal, building maintenance, and other items.
Old Mammoth District: The Old Mammoth District is the commercial and retail area that runs north and south along Old Mammoth Road from Main Street (to the north) all the way to south Old Mammoth Road (To Snowcreek Resort). The Old Mammoth District is best characterized as the area in which essential needs for both locals and visitors can be found. Vons grocery store, the Mammoth Police Department, Government offices, accounting firms, attorneys, local schools and the library are are examples of uses found in this section of town. Zoning in this area is primarily Commercial Lodging and Commercial General. The spaces available along Old Mammoth tend to be located in larger shopping centers such as the Mammoth Mall, Sierra Center Mall and the Minaret Mall and are often found on first, second, and even third levels of the respective buildings. As of February 2014, combined rents and CAM charges at this end of town are generally running about $1.95 per square foot per month.
Main Street District: The Main Street District is the most heavily traveled corridor in Mammoth Lakes and stretches along Highway 203 (Main Street) from Old Mammoth Road to Minaret Road. Although there are two shopping centers on Main Street, the character is best represented by stand-alone buildings occupied by one or two tenants. The Main Street District is an important section of town because it is so visible and because it is the first impression a visitor experiences when arriving to Mammoth Lakes. Main Street is also the primary connection between the Old Mammoth District and The Village at Mammoth. Redevelopment concepts for The Main Street District have been brought forward and approved by the local municipality, but current limitations in re-development policies at the State level have slowed the concept’s evolution. Combined rental and CAM charges for Main Street tend to be higher than the Old Mammoth District, with combined rent and CAM charges ranging from $2.00 to $3.00 per foot.
The Village at Mammoth: The Village at Mammoth is Mammoth Lake’s newest development project and very different from the rest of the community. The Village at Mammoth is a mixed use project built over approximately 6 acres. The Village is four stories of residential condominium built over ground floor commercial/retail space. The Village is pedestrian walking village with a self-contained events plaza and easy access to the Mammoth Mountain Ski Gondola, public transportation and a number of great restaurants. Minimum rents in the Village at Mammoth are at the upper end of the rental range for Mammoth Lakes; slightly above $2.00 per square foot with CAM charges currently around $1.35 a foot. CAM charges vary greatly in the Village depending on the intensity of winter. More snow means more snow removal and the need to heat the pedestrian walkways. This doesn’t seem to deter the tenants to a great degree as the vacancy rate in the Village has remained stable over the past 5 years. Other rents and fees include civic fees to help pay for amenities like common area events and marketing and percentage rents above natural breakpoints. The Village at Mammoth is considered premium retail space in Mammoth