201 Petaluma Blvd S (the “Property”) is one of the final remaining developable parcels in Petaluma's thriving historic downtown. The Property consists of 0.46 acres of land on a signalized hard corner across from Walnut Park. The Property falls within the Central Petaluma Specific Plan (CPSP) Conceptual Area Boundary with a zoning designation of Urban Core Zone (T6). The Property is a former gasoline service station, the Seller will deliver the property to a new buyer with a No Further Action (“NFA”) Letter. For qualified buyers, the Seller is open to structuring escrow such that closing occurs upon buyer's receipt of entitlements. The highest and best use allowed by zoning is a Main Street Building (a small- to medium-sized structure, typically attached, intended to provide a vertical mix of uses with ground-floor commercial, service, or retail uses and upper-floor commercial, service, or residential uses) or a Mid-Rise Building (medium- to large- sized structure, 4 to 8 stories tall, built on a large lot that incorporates structured parking. It can be used to provide a vertical mix of uses with ground-floor commercial, service, or retail uses and upper-floor commercial, service, or residential uses).