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1221 Seminary Street
Napa CA 94559 US

$4,200,000

Active Listing ID 324069774
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Lot: 0.31 Acres
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Hotel-Motel

$4,200,000

Active Listing ID 324069774
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1221 Seminary Street 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.

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Property Features

  • Facts
  • Lot Size: 0.31 Acres
  • Property Type: Commercial Sale
  • Property Sub-type: Hotel-Motel

Property

  • propertytype: Commercial Sale
  • propertysubtype: Hotel-Motel
  • listprice: 4200000
  • unparsedaddress: 1221 Seminary Street
  • postalcity: Napa
  • stateorprovince: CA
  • country: US
  • postalcode: 94559
  • bathroomsfull: 0
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeacres: 0.3055
  • lotsizeunits: Acres
  • lotsizearea: 0.3055
  • livingarea: 0
  • livingareaunits: Square Feet
  • latitude: 38.299192
  • longitude: -122.291089
  • listagentfullname: Erin Lail
  • listagentemail: erin@lailvineyards.com
  • listagentkey: 3yd-BAREISCA-E402132
  • listagentmlsid: E402132
  • listagentpreferredphone: 7073335596
  • listagentofficephone: 7079631152
  • listofficekey: 3yd-BAREISCA-ECBBV02
  • listagentstatelicense: 02027696
  • listofficemlsid: ECBBV02
  • disclaimer: Copyright © 2024 Bay Area Real Estate Information Services, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: BAREISCA
  • yearbuilt: 1861
  • listagenturl: http://www.cbnapavalley.com
  • countyorparish: Napa
  • parcelnumber: 003-152-013-000
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 0
  • parkingtotal: 0
  • waterfrontyn: False
  • franchiseaffiliation: Coldwell Banker Real Estate
  • architecturalstyle: Other
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: True
  • internetconsumercommentyn: True
  • location: -122.29109, 38.29919
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"Coldwell Banker Brokers of the Valley St. Helena", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"erin@lailvineyards.com", "ListBrokerageCity":"St. Helena", "ListBrokerageCountry":"US", "ListBrokerageEmail":"croberts@cbnapavalley.com", "ListBrokerageLogoUrl":null, "ListBrokerageName":"Coldwell Banker Brokers of the Valley St. Helena", "ListBrokeragePhone":"(707) 258-5200", "ListBrokeragePostalCode":"94574", "ListBrokerageStateOrProvince":"CA", "ListBrokerageUnitNumber":null, "ListBrokerageUnparsedAddress":"1200 Main Street", "ListBrokerageWebsiteUrl":"http://www.cbnapavalley.com", "ListOfficeAddress1":"1200 Main St", "ListOfficeAddress2":null, "ListOfficeBrokerMlsId":"15209", "ListOfficeCity":"St. Helena", "ListOfficeCountry":"US", "ListOfficeEmail":"croberts@cbnapavalley.com", "ListOfficePostalCode":"94574", "ListOfficeStateOrProvince":"CA", "ListPriceCurrencyType":"USD", "ListingTitle":"Hotel-Motel - Napa, CA", "ListingURL":"https://listings.listhub.net/pages/BAREISCA/324069774/?channel=rexren", "MLSModificationTimestamp":"2024-09-09T11:42:06Z", "Neighborhoods":[{"Description":null, "Name":"Napa"}], "PostalCode":null, "RoomCount":null, "StateOrProvince":null, "Taxes":[], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 10/25/2024 1:30:05 PM GMT
Source Updated Date: 10/31/2024 6:52:10 AM GMT

Courtesy of: Erin Lail, Coldwell Banker Brokers of the Valley, erin@lailvineyards.com

Copyright © 2024 Bay Area Real Estate Information Services, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.