A 16-acre waterfront compound in Marshall that has stayed in the same family since 1925 is now on the market for roughly $13 million, putting one of Tomales Bay's most storied stretches of shoreline up for grabs for the first time in over a century. The property sits along Highway 1 about 60 miles north of San Francisco and includes commercial and residential buildings, restaurant space, and working aquaculture tenants tied to some of Northern California's most recognizable oyster brands.
According to the New York Post, Nickola and Nickolina Vilicich purchased the Tomales Bay property in 1925, and it has never been offered for sale since. Per SFGATE, the listing has grown into a 16.7-acre spread across four parcels with 2,500 linear feet of shoreline, residences, and two docks. Three of the parcels are zoned for commercial use, and the listing brochure describes the land as having multiple income-producing and development possibilities, according to the Post.
A Fish House Turned Family Empire
Croatian immigrants Nickola and Nickolina Vilicich ran a general store on the waterfront site, and their sons established Marshall Boat Works. The family general store later became The Marshall Store.
Today the compound includes tenants such as Point Reyes Oyster Co., Marshall Boat Works, and the local U.S. Post Office, per the Post. Combined, the properties yield about $400,000 in annual operating income against roughly $250,000 in expenses, according to figures from the listing brochure cited by the Post.
The Marshall Store's Rise to National Fame
The property's best-known tenant is The Marshall Store, which opened in 2006 and landed a spot on The New York Times' list of the top 50 restaurants in America in 2021, the Post reports. Shannon Gregory, its current operator, took over the former general store with her sister Heidi and their late father, Tod Friend, according to SFGATE. Gregory told SFGATE in 2021 that the restaurant's low-key vibe is central to its appeal, saying, “Anybody can come here. We’re not just for the blue collar workers, we’re not just for the wealthier people. We’re for everybody.”
Her sister, Heidi Gregory, is a co-owner of Tomales Bay Oyster Company. Hoodline previously reported that Hog Island Oyster Co. announced plans for its first East Bay bar, in Lafayette.
Oyster Country's Outsized Role
Tomales Bay Oyster Company, which first opened in 1917, is described by the Post as California's longest-running oyster farm and is co-owned by Heidi Gregory. Nearby, Hog Island Oyster Company started as a Tomales Bay farm in the early 1980s and has since expanded to San Francisco, Napa, and other area cities, according to the Post. Tomales Bay has a long history of commercial oyster farming.
Also nearby, Nick's Cove underwent a major refresh in 2022 that turned it into a four-star hotel, the Post notes.
Regulatory Hurdles Awaiting a Buyer
Marin County is also working to adopt an updated Local Agency Management Program in late 2026 to govern wastewater systems across the Tomales Bay watershed, where Marshall relies on shared county septic system, according to Hoodline's earlier reporting.
