A slice of Northern California’s laid-back waterfront life is suddenly up for grabs and the asking price is about $13 million.The 16-acre property in the tiny oyster-farming village of Marshall is not just a scenic piece of land on Tomales Bay; it is a long-held commercial and residential estate with established businesses, rental income and development potential.Located about 60 miles north of San Francisco along Highway 1, the property includes several commercial and residential buildings, as well as the well-known seafood restaurant The Marshall Store.The property was purchased in 1925 by Croatian immigrants Nickola and Nickolina Vilicich and, remarkably, has remained in the family for more than a century without being listed for sale, the New York Post reported.A rare waterfront real estate offeringThe 16-acre estate includes three parcels zoned for commercial use and is described in the listing as offering “multiple income-producing and development possibilities.”Other businesses operating on the property include Point Reyes Oyster Co., Marshall Boat Works and the local US Post Office.A listing brochure obtained by SFGATE shows that the combined properties generate about $400,000 in operating income, against roughly $250,000 in expenses.That makes the offering more than a luxury waterfront purchase. For a prospective buyer, the property combines an established income stream with commercial land and the possibility of future development.One of the property’s best-known tenants is The Marshall Store, a casual seafood restaurant that opened in 2006 and has built a strong reputation for its oysters and waterfront setting.The restaurant was included in The New York Times’ list of the top 50 restaurants in America in 2021.The property sits in the heart of Marshall, a community long associated with oyster farming and waterfront living. The shoreline is also home to Tomales Bay Oyster Company, co-owned by Gregory’s sister Heidi and described as California’s longest-running oyster farm. It was established in 1917.Marshall has gradually attracted more development and visitors in recent years, with its waterfront setting and proximity to San Francisco adding to its appeal.Further along Highway 1, Nick’s Cove, a restaurant and waterfront inn, underwent a major renovation in 2022 and was transformed into a four-star hotel.Marshall is also home to the original location of Hog Island Oyster Company, which began farming oysters on Tomales Bay in the early 1980s.The company has since expanded into a recognised oyster-bar brand with locations in San Francisco, Napa and elsewhere in the Bay Area.
