Offered at only $236.30/SF, this iconic, commercially-zoned Inn compares favorably to the County's residential market. During Q4/2017 and Q1/2018, nearby Stinson Beach documented sales at an "average" $1,572/SF. Per published reports, March 2018 Marin County MEDIAN residential SALE PRICE rose to $1,300,000, a 16% jump over 2017, with AVERAGE Price Per Square Foot rising by 7% in March 2018 to $669/SF. https://www.paragon-re.com/trend/marin-county-real-estate-market-report
In 2018, it may be prudent to consider the purchase of a commercial, income-producing, restored Marin coast historic hotel with 12.5 baths, 11 furnished bedrooms, including innkeeper & owner quarters, kitchen, laundry, permitted off-street parking – an income-producing, hospitality opportunity situated within a three-storey building with approx. 5,600/finished SF on its first two floors and another third, top storey offering an additional approx. 1,700/unfinished SF. Relying only on the first two floors of 5,600/finished SF and multiplying this by Marin’s March 2018 AVERAGE price per square foot of $669, the Continental Inn could be priced at $3,746,400 if sold as a residence! Instead, as a commercially-zoned, furnished, income-producing historic inn with owners’ and innkeepers' quarters, the Continental Inn is being offered at $1,725,000 or $308 per finished and furnished* SF.
*Residential properties rarely are sold “furnished” and never legally are sold with “income-producing” business opportunities.
