233 Broad Street
Nevada City, CA, 95959
$
3,350,000
Bedrooms--
Baths--
Sq
8,436
Monthly Estimate*
$
20,627
for $3,350,000. This 8,436 square foot building was built in 1856 on a lot size of 0.12.
The Flagg Building is a newly renovated, 11,200 square foot hospitality asset with ground-floor leased restaurant/caf located in the heart of historic downtown Nevada City, CA. Originally constructed in 1856 and comprehensively renovated over the past five years, it 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 Caf, a popular restaurant/caf 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 Caf, 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.
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Features
General
Sewer
Public Sewer
Heating
See Remarks
Cooling
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Utilities
Sewer Connected
Roof
See Remarks
Construction Materials
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Year Built
1856
Electric
Separate Electric Meter
Tenant Pays
See Remarks
Stories Count
0
Property Subtype
Hotel-Motel
Current Use
Restaurant
Retail
Location
Downtown
Business Type
Bed & Breakfast
Commercial
Restaurant
Other
Building Name
The Flagg Building
County
Nevada
Property Type
Commercial Sale
Building Features
Patio
Restroom(s)-Private
Some Furnished Units
Kitchen Facilities
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Close Price
0.0
Status
Active
Directions
From State Highway 49 N exit Broad St and turn left. Property is on the left. From State Highway 49 S/20 W exit Broad St and turn right. Property is on the left.
City
Nevada City
Zoning Description
GB-HD General Business
Historical Combining Dist.
Number Of Units Total
9
MLS Area
13106
Lot Size Square Feet
5227.0
Standard Status
Active
Year Built Source
Owner
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Interior
Flooring
See Remarks
0
Office Area
0
Total Stories
0
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Exterior
Parking Features
See Remarks
Water Source
Public
Total Parking
0.0
Foundation Details
SeeRemarks
Number of Buildings
0
Building Area Total
8436.0
Lot Size Acres
0.12
Lot Size Source
Assessor Auto-Fill
Road Frontage Type
City Street
Parking Ratio
0.0
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* Excluded Features
Affordability Calculator
- Monthly Principal & Interest
- $20,627
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
Commerical listings in Nevada City, CA
Average List Price
$1,460,300
Percent of Sale Price
56%
About Nevada City, CA
18,157
Population
9%
Since 2002
$
60,289
Median Income
52.82
Median Age
16%
Households with Children
Trends Information provided by ATTOM Data Solutions.
295416
Elementary School
295437
Middle School
Unknown High School
High School
Pricing History
| Date |
Price |
Price Change |
Description |
|
4/21/2026
|
$3,350,000
|
|
Listed Price
|