1221 Seminary St - Commercial LAND FOR SALE


Napa, CA 94559 13,504 SF
$4,200,000 USD
707-333-5596
1221 Seminary St, Napa, CA for Sale
$4,200,000 USD
Commercial LAND - FOR SALE
1/10
13,504 SF

1221 Seminary St
Napa, CA 94559


HIGHLIGHTS

  • Boutique Bed and Breakfast ~ Leadership Retreat, 3 Minute walk to downtown Napa
  • Architectural Set -- Permitted Construction Documents for 8 Suites ~ 5 Suite Villa + 3 Cottages
  • Mills Act Property Tax abatement in place
  • Opportunity Fund
  • Infrastructure Construction complete

OVERVIEW

The property was rezoned from Residential to a Boutique Bed & Breakfast (B&B) with a Planned Development overlay (PD) under a new ordinance. This change received unanimous and enthusiastic support from the Cultural Heritage Commission, Planning Commission, and City Council, along with strong backing from neighbors who spoke up at crucial city meetings. The approved design development (DD) plans include 8 keys. The property is eligible for the Mills Act, allowing for historic buildings to have property taxes frozen for 10 years. With Napa County's tax rate at 1.33%, a $10M assessment results in $1.26M in savings over 10 years. Additionally, the project is funded through an Opportunity Fund, allowing deferred capital gains for 10 years, meaning investors can fund the project entirely with prior capital gains and shelter an exit. A current project plan and building plan exists with permits approved, and much of the infrastructure work completed. Owners are also open to financing, this property is shovel ready.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/ACRE

$13,547,986/AC

PRICE/SF

$311 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

The Compound Napa Valley

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Hotel

LAND ACRES

0.31 AC

LAND SF

13,504 SF

OFFSITE IMPROVEMENTS

-

ZONING

Bed & Breakfast

APN/PARCEL ID

003-152-013

ASK ABOUT THIS PROPERTY

Erin LailColdwell Banker Brokers of the ValleyMore Info
707-333-5596

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Erin LailColdwell Banker Brokers of the ValleyMore Info
707-333-5596

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