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315 Lakeville St - Lakeville St - Residential & Commercial Lot 0.18 Acres of Commercial Land Offered at $500,000 in Petaluma, CA 94952
Investment Highlights
- 1. SHOVEL-READY & FULLY ENTITLED: Cleared all planning hurdles. Skip the 3-year entitlement wait and build now.
- 3. TRANSIT-ORIENTED LOCATION: Directly across from Petaluma SMART Train. Prime Transit-Oriented Development node.
- 5. 7,233 SF ACROSS 4 UNITS: Four expansive units (~1,700 SF each) offer rare scale for the Petaluma luxury market.
- 2. $400K IN FEES ALREADY PAID: Seller covered all permits & impact fees. Effectively acquire land for just $100K.
- 4. PROFIT-OPTIMIZED 2-STORY BUILD: Strategic 2023 redesign minimizes construction costs while maximizing ROI.
- 6. SECURED WATER/SEWER CAPACITY: Utility capacity vetted & reserved. Removes the #1 risk factor for Petaluma builders.
Executive Summary
Property Facts
1 Lot Available
Lot
| Price | $500,000 | Lot Size | 0.18 AC |
| Price Per AC | $2,760,905.58 |
| Price | $500,000 |
| Price Per AC | $2,760,905.58 |
| Lot Size | 0.18 AC |
7,906 SF level lot across from Petaluma SMART Train. Fully entitled for 4 luxury units (7,233 SF). $400K in fees paid by seller. Water/sewer reserved. Shovel-ready in high-demand TOD zone steps from downtown. APN 007-154-013.
Description
Why spend years navigating the planning department when you can start digging tomorrow? Welcome to the future site of Erwin Street at 315 Lakeville Street, a pre-entitled development opportunity that defines the standard for shovel-ready projects. The years of strategic design and bureaucratic navigation are already behind you, offering a timeline and a level of certainty that is simply unavailable elsewhere in the current Petaluma market. The economics of this offering are unmatched. At a list price of $500,000, you are benefiting from nearly $400,000 in sunk costs already satisfied by the seller. This includes development impact fees, permit costs, and premium professional services from the region's top firms. For a developer, the math is undeniable: you are securing a prime lot for an effective land cost near zero while bypassing the risk and delays of the planning gauntlet. The vision by award-winning Nick Lee Architecture features four expansive dwelling units totaling 7,233 square feet. Originally envisioned as three stories, the project was expertly value-engineered into a sophisticated two-story structure in 2023 to maximize developer profitability and streamline construction without sacrificing luxury. The high-end aesthetic includes Arctic White architectural panels, Iron Gray accents, and dark bronze standing seam metal roofing. Premium black wood-clad aluminum windows and architectural lighting ensure these units will lead the market in rental yields or condo exit prices. The location is a masterclass in Transit-Oriented Development, situated directly across from the Petaluma Downtown SMART Train station. Commuters have instant access to San Rafael and Santa Rosa, while the vibrant shops and world-class dining of historic downtown Petaluma are just a short walk away. Every technical hurdle has been cleared by a premier development team including Munselle Civil Engineering, MKM Structural, and PJC Geologists. With approved plans, vetted sewer and water capacity, and a locked design, this is the most strategic development play in the North Bay. Stop waiting for approvals and start building the project that is already done. Your opportunity to break ground tomorrow begins with your offer today.
Property Taxes
| Parcel Number | 007-154-013 | Improvements Assessment | $0 |
| Land Assessment | $359,779 | Total Assessment | $359,779 |
Property Taxes
Presented by
Engel & Volkers
315 Lakeville St - Lakeville St - Residential & Commercial Lot
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