Yesterday at our commercial broker meeting, I did come across the flyer of the Old Silk Mill in Petamula, a national historic landmark and a great investment opportunity and it’s for sale. The zoning is light industrial but if you take a look at the building and the location: wouldn’t it be a great place for a condo? It would be perfect: historical architecture, 3 blocks from the Theater District, 2 blocks from the new transit center.
A few months ago I mentioned that I was selling the oldest church building in Calistoga. Initially I did not think that it would be interesting as a residence. The property is currently in escrow and the buyers are planning to change the property into a private residence. I did see the plans… it is going to be spectacular! I did change my mind: the highest and best use in this case is residential.
A few of historical buildings in San Francisco have been converted to condos and a few churches have been converted into residences. Owning a converted historical property is not for every one but you will for sure own a unique property.
Also, no matter what the media will tell you, today is a great time to buy or sell real estate.
Have a great day!
Mirjam
Mirjam@c21alliance.com