Investment Overview

Investment Overview | 912 Foothill Boulevard, Calistoga, CA Marcus & Millichap is offering a three-parcel, approximately 0.85-acre redevelopment site two blocks from downtown Calistoga. The contiguous parcels are zoned Community Commercial and offer access from Foothill Boulevard and Pine Street. The combined site provides flexibility for building placement, parking, circulation and commercial frontage. The property includes seven existing apartments, comprising six one-bedroom units and one two-bedroom unit, plus an adjoining vacant parcel of approximately 0.37 acres. The apartments generate $37,200 in current annual gross scheduled rent, providing interim income to help offset holding costs during planning and entitlement. Preliminary underwriting evaluates 30 residential units and approximately 4,000 square feet of ground-floor retail. The base density of 20 units per acre supports approximately 17 units. The 30-unit concept assumes additional density through applicable mixed-use provisions and incentives and remains subject to City approval and entitlements.