In the past, I used to be more involved in commercial real estate and would track the rents being charged for various commercial sites in the Napa Valley. When I first opened my office here in Yountville, I was paying $2 psf (per square foot). When I closed it at the end of 2013, my rent was $4 psf and the renewal for the new occupant went up went to $4.50 psf.
Thus it was no surprise when I read this article by Cynthia Sweeney, Rising rents challenge St. Helena businesses, in the St. Helena Star, one of the local weekly newspapers here. Here are a couple of excerpts:
At 1234 Adams St., the 1,600-square-foot space that was previously home to the Tamber Bey Vineyards tasting room is going for $3.75 per square foot. The current rent for the 533-square-foot storefront formerly occupied by Muse is more than $9 per square foot, or $5,000 per month.
“We were dealing with managers out of Los Angeles with absolutely, very little communication from them, and we were notified by letter that they were not going to renew our lease,”
Here is an idea of what you will have to pay to rent a commercial space in a prime location in the various towns and cities here in the Napa Valley.
- Calistoga on Lincoln Street in the center of town: $3-5 psf
- St. Helena on Main Street between Spring and Adams Streets: $4-9 psf
- Yountville on Washington Street near V Marketplace: $4-6 psf
- Napa on 1 st Street downtown or in the Riverfront: $3-5 psf
Though I don’t do commercial rentals, I can at least point you in the right direction. Please call me to discuss what you have in mind. And yes, except in Yountville, there still is the occasional restaurant location which comes up for rent and every once in awhile, for sale.