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The Flagg Building 233 Broad St 9 Room Hotel Nevada City, CA 95959 $4,619,415 CAD ($513,268 CAD/Room)
INVESTMENT HIGHLIGHTS
- Iconic Historic Building – 11,200 SF, originally built in 1856, fully renovated with modern systems
- Second Floor – 9-room boutique hotel (The 1856 Speakeasy) completed in 2023 with luxury finishes
- Turnkey Renovations – New plumbing, HVAC, electrical, fire suppression, and modern interiors
- Ground Floor – Anchored by Communal Café, thriving tenant signing new 7-year lease at close
- Third Floor – 2,500 SF shell with new infrastructure; flexible for hotel expansion, private residence, or office
- Prime Downtown Nevada City Location – High foot traffic on Broad Street, within National Historic District
EXECUTIVE SUMMARY
Coldwell Banker Commercial GR is pleased to present for sale The Flagg Building — a newly renovated, ±11,200 square foot hospitality asset with ground-floor leased restaurant/café, located in the heart of historic downtown Nevada City, CA.
Originally constructed in 1856 and comprehensively renovated over the past five years, The Flagg Building blends timeless architectural character with upgraded building systems and curated interior finishes. The second floor comprises a thoughtfully designed, 9-room boutique hotel, while the ground floor is home to Communal Café — a popular restaurant/café operating under a long-term lease. Ideally located at the busiest pedestrian intersection in Nevada City (Broad and Pine Streets), The Flagg Building commands unmatched visibility and foot traffic in the town’s historic core — benefiting from year-round tourism and direct adjacency to the area’s most vibrant dining, retail, and cultural offerings.
The third floor is currently in shell condition, with major infrastructure improvements completed and fully approved plans in place for three additional hotel rooms — offering a shovel-ready opportunity to expand the key count and grow revenue.
In addition to the physical expansion potential, the boutique hotel presents a compelling operational value-add opportunity. With recent renovations already complete, new ownership is well-positioned to enhance hospitality performance through improved marketing, professional management, and optimized rate strategies — driving occupancy toward market levels and achieving outsized returns.
With strong in-place income from Communal Café, a fully operational and recently delivered boutique hotel, and a clear path to expand and materially increase revenues, The Flagg Building offers a rare opportunity to acquire a premier hospitality asset in one of Northern California’s most vibrant destination markets.
On a bifurcated basis, the offering can be evaluated as follows: the hospitality component is priced at approximately $189,000 per key, the ground floor leased retail at a 7.9% cap rate (approximately $310/SF), and the third floor shell at just $120/SF, offering significant intrinsic value and multiple paths to upside. Notably, this offering reflects a meaningful discount to the recent sale of the fully stabilized National Exchange Hotel, located on the same block as The Flagg Building.
Please refer to the Offering Memorandum for detailed financials and floor-by-floor valuation breakdown.
Originally constructed in 1856 and comprehensively renovated over the past five years, The Flagg Building blends timeless architectural character with upgraded building systems and curated interior finishes. The second floor comprises a thoughtfully designed, 9-room boutique hotel, while the ground floor is home to Communal Café — a popular restaurant/café operating under a long-term lease. Ideally located at the busiest pedestrian intersection in Nevada City (Broad and Pine Streets), The Flagg Building commands unmatched visibility and foot traffic in the town’s historic core — benefiting from year-round tourism and direct adjacency to the area’s most vibrant dining, retail, and cultural offerings.
The third floor is currently in shell condition, with major infrastructure improvements completed and fully approved plans in place for three additional hotel rooms — offering a shovel-ready opportunity to expand the key count and grow revenue.
In addition to the physical expansion potential, the boutique hotel presents a compelling operational value-add opportunity. With recent renovations already complete, new ownership is well-positioned to enhance hospitality performance through improved marketing, professional management, and optimized rate strategies — driving occupancy toward market levels and achieving outsized returns.
With strong in-place income from Communal Café, a fully operational and recently delivered boutique hotel, and a clear path to expand and materially increase revenues, The Flagg Building offers a rare opportunity to acquire a premier hospitality asset in one of Northern California’s most vibrant destination markets.
On a bifurcated basis, the offering can be evaluated as follows: the hospitality component is priced at approximately $189,000 per key, the ground floor leased retail at a 7.9% cap rate (approximately $310/SF), and the third floor shell at just $120/SF, offering significant intrinsic value and multiple paths to upside. Notably, this offering reflects a meaningful discount to the recent sale of the fully stabilized National Exchange Hotel, located on the same block as The Flagg Building.
Please refer to the Offering Memorandum for detailed financials and floor-by-floor valuation breakdown.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $4,619,415 CAD | Lot Size | 0.11 AC |
| Price Per Room | $513,268 CAD | Building Size | 11,200 SF |
| Sale Type | Investment | No. Rooms | 9 |
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 1856/2023 |
| Building Class | B | Corridor | Interior |
| Zoning | GB | ||
| Price | $4,619,415 CAD |
| Price Per Room | $513,268 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 11,200 SF |
| No. Rooms | 9 |
| No. Stories | 3 |
| Year Built/Renovated | 1856/2023 |
| Corridor | Interior |
| Zoning | GB |
AMENITIES
- On-Site Retail
- High Speed Internet Access
- Boutique/Lifestyle Hotel
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 9 | $326.81 CAD | - |
Walk Score®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 005-399-009-000 | Improvements Assessment | $1,637,341 CAD |
| Land Assessment | $595,397 CAD | Total Assessment | $2,232,738 CAD |
PROPERTY TAXES
Parcel Number
005-399-009-000
Land Assessment
$595,397 CAD
Improvements Assessment
$1,637,341 CAD
Total Assessment
$2,232,738 CAD
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The Flagg Building | 233 Broad St
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