Downtown Cotati Residential/ Retail Site acres FOR SALE $3,950,000

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Sharyl Lindsey
5 years ago
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1 Downtown Cotati Residential/ Retail Site acres FOR SALE $3,950,000

Cotati, CA Situated only 40 miles north of San Francisco, Cotati is known as the Hub of Sonoma County since it is at the geographic center of the County and at the crossroads of

Cotati retains its old world charm surrounded by vineyards and rolling oak studded hills, while fostering an energetic business and retail community.

2 Cotati, CA Situated only 40 miles north of San Francisco, Cotati is known as the Hub of Sonoma County since it is at the geographic center of the County and at the crossroads of the main north/south and east/west routes. Cotati retains its old world charm surrounded by vineyards and rolling oak studded hills, while fostering an energetic business and retail community. Cotati is home to Sonoma State University with its population of 9,000 students, and the historic downtown benefits from the influence of the college. The crown jewel of the Sonoma State campus is the Green Music Center, a truly world class performing arts venue, that since its opening in 2012 has featured artists such as Yo Yo Ma and Lang Lang.

3 The Property The Property comprises two parcels of approximately 6.6 acres, APNs & 008, and is unimproved and largely flat. With an extensive frontage to Old Redwood Highway and good visibility from Highway 101, the Property is a rare development opportunity in an area with high barriers to entry. The Property is located close to the junction of highways 101 and 116 (Gravenstein Highway), with a frontage of approximately 500 feet to Old Redwood Highway. It is bounded by Maple Avenue (St Joseph Way) to the north, and Highway 101 to the west. The Property is part of the northern gateway to Cotati and forms the northern edge of the historic Cotati downtown area. There has been significent retail development in the area. Immediately across the street is Walgreens pharmacy and a new Peet s Coffee & Tea. On the west side of 101 is Lowe s Home Improvement store.

At a cost in excess of $800 million, it has more than 300,000 square feet of space, 3,000 slot machines and 5,500 guest parking spaces.

4 Graton Resort & Casino The Property is two miles and two freeway exits away from the new Graton Resort and Casino in Rohnert Park. The Casino opened in November, 2013 and is the largest in the North Bay. At a cost in excess of $800 million, it has more than 300,000 square feet of space, 3,000 slot machines and 5,500 guest parking spaces. The Casino has hired more than 2,000 permanent employees to staff the facility. It offers multiple dining options and features a 10,000 square foot events facility that will bring headline acts to the area. In addition, a new 200 room hotel opened in Fall of 2016.

5 Demographics Sonoma County has a population of nearly 500,000 concentrated in the Highway 101 corridor in the cities of Cotati, Petaluma, Rohnert Park, and Santa Rosa. Area Population 1 Mile 3 Miles 5 Miles 2010 Population 15,846 53,074 71, Population 16,118 53,498 71, Population (est.) 16,755 54,852 73,369 Area 2012 Income Average Household Income $67,783 $73,540 $75,221 Median Household Income $52,729 $57,000 $56,990 Traffic Counts Approximately 24,000 vehicles per day* pass the Property on Old Redwood Highway. *source: City of Cotati 2011

6 Development Overview The Property is part of the Cotati Downtown Specific Plan that was adopted in August It is zoned SPD, Specific Plan Downtown. The Plan is available on the City web site at: sections/departments/plan-updates.cfm. The Northern Gateway District is designated as, a new mixed use core, accommodating a wide variety of retail, restaurants and entertainment uses, with offices and primarily residential above. The Downtown Plan EIR was very comprehensive and it should be possible for development proposals to tier from this, limiting the amount of Environmental Review that would be required. The adjacent parcel to the north, currently a Cal-Trans Park & Ride lot, has been acquired by the City for development. A developer is proposing the construction of a higher-end limited service hotel with approximately 110 rooms. Significant predevelopment studies of the Property have been undertaken that can be made available to a purchaser. There is a wetland delineation approved by the Army Corps of Engineers.

7 Parcel Map

Downtown Cotati Mixed Use Development Site +/- 6.6 acres FOR SALE $3,950,000

Downtown Cotati Mixed Use Development Site +/- 6.6 acres FOR SALE $3,950,000 Cotati, CA Situated only 40 miles north of San Francisco, Cotati is known as the Hub of Sonoma County since it is at the geographic