Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the Fillmore on Central Hotel Development in Fillmore, California. The Fillmore on Central is an iconic landmark that was historically the chapel of Fillmore. The property now operates as a wedding venue that is leased by Wedgewood Weddings, a national wedding venue operator. Situated on nearly 1 acre of lush, well-maintained grounds, the Fillmore on Central has a section of the property, historically used as chapel classrooms that can be converted into a 40-room boutique hotel. The hotel will have a built-in demand generator with Wedgewood Weddings who are set to perform over 400 Weddings in the next 4 years. The property also includes a 2,320 sq. ft. basement that could be converted to a speakeasy bar, spa area, or other food & beverage option. In the center of the classroom area that will be converted to hotel rooms, there is 3,000 sq. ft. courtyard with the potential for development of a pool area. The Fillmore on Central Hotel Development is ideally located off of highways 126 and 23 in Fillmore, which is 1 hour of Los Angeles and Santa Barbara. The property is in Historic Downtown Fillmore and within walking distance to restaurants, shops, parks, and the Fillmore Historical Museum. Our Pro Forma analysis assumes continued modest growth supported by the increasing population and demand growth in the Santa Clara River Valley region.