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1525 Francisco Blvd E 5,149 SF 100% Leased Office Building San Rafael, CA 94901 $1,765,000 ($342.79/SF) 7.49% Cap Rate
INVESTMENT HIGHLIGHTS
- Owner has invested over $200,000 in tenant improvements and upgrades.
- There are 55 parking spaces, including two handicapped ones. 16 parking spaces are unreserved and go with the 8 units.
- Property is in the AE flood zone (1%).
- Owners Association is responsible for roof, exterior paint, landscape, parking lot, insurance, water and refuse
- Allows for Cannabis testing/lab, delivery, manufacturing, and distribution. It houses two of only five San Rafael licensed delivery services.
EXECUTIVE SUMMARY
100% LEASED INVESTMENT OPPORTUNITY - 6 LEASES IN PLACE The property consists of 8 commercial office condominiums, four on each floor, located at the front of 1525 Francisco Boulevard E., San Rafael. Per the condominium plat map, the size of each floor is ±2,574.69 SF or ± 5,149.28 SF total. The second floor is accessed by stairs on either side of the building and has an access deck in front for the offices. In addition, there are four individual storage closets adjoining the units.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
5,149 SF
Building Class
C
Year Built
1980
Price
$1,765,000
Price Per SF
$342.79
Cap Rate
7.49%
NOI
$132,204
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,575 SF
Building FAR
0.09
Lot Size
1.26 AC
Zoning
LI/O - Light Industrial /Office District
Parking
55 Spaces (10.68 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Numbers | 009-310-06, 009-310-03, 009-310-08, 009-310-07, 009-310-01, 009-310-02, 009-310-04, 009-310-05 | Improvements Assessment | $1,377,968 |
| Land Assessment | $590,558 | Total Assessment | $1,968,526 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$590,558
Improvements Assessment
$1,377,968
Total Assessment
$1,968,526
MAP
ADDITIONAL PHOTOS
Aerial Photo
Exterior Photos
Site Plan of Condos