Retail, Industrial, & Investment Property Advisor

The Pleasanton Hotel, located at 855 Main Street is once again for sale. The 14,290 square foot building is a retail and office building. The owner of the building also owns the restaurant that occupies the first floor, The Farmer. Upon selling the building he would like to sign a long-term lease for the restaurant*

* On a side note, the restaurant business is also for sale. It can be yours for a whopping $600,000

The building sits on a 1.68 acre lot and does include parking. The building is relic and is known by anyone who has been to Pleasanton. Having said that, I have heard that it is almost impossible to move walls and change anything architecturally within the building due to structural issues. Meaning, a renovation to divide up space or to create a better flow could be near impossible.

At $3,350,000 ($234 psf) who would buy this thing? The only use I can think of is an owner/user who would occupy the second floor and capitalize off the leased space on the first floor.