An $11.8 million compound for sale across the bay from San Francisco was once owned by a brothel madam who became a small-town mayor. Here's what it's like at Valhalla, which may become the area's next private social club.

• A waterfront compound across the bay from San Francisco is for sale for $11.8 million.
• Sausalito's Valhalla property has a long history in the city - it was once owned by a former brothel madam who later became a beloved mayor of the city of Sausalito.
• It could become a number of things in its next life, but the listing's agents said one possibility could be a private social club similar to San Francisco's exclusive members-only The Battery.
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A waterfront compound across the bay from San Francisco was once a restaurant serving the likes of Marlon Brando and Lucille Ball. Now it's for sale for $11.8 million.

Sausalito's Valhalla compound sits right on the waterfront with views of the city in the distance. The property is a beloved landmark in the region - it was once owned by a prominent San Francisco brothel madam who would later become the mayor of Sausalito.

"When you think of Sausalito, you think of Valhalla," the property's listing agent Lydia Sarkissian told Business Insider.

Its views and location mean it could potentially be turned into a number of things, but Golden Gate Sotheby's International Realty CMO Kevin Dwyer told Business Insider that one possibility is a private social club that could become "The Battery for Marin."

Here's what the property is like - and what's in store for its future buyer: