major trophy investment price reduction! 505 sir...
TRANSCRIPT
SALE PRICE:$5,200,000 $4,900,0005.54% Cap Rate
REPRESENTED BY:Matt Storms, PartnerLic.# 01233478
FOR SALE MARIN COUNTY, CALIFORNIA
Trophy Investment505 Sir Francis Drake Boulevard
Greenbrae, CA 94904
MAJORPRICE REDUCTION!
Second Floor
First Floor
Back View of the Building
View North
Trophy Investment Property For Sale — First Time Ever505 Sir Francis Drake Blvd., Greenbrae, CA 94904
Matt Storms, Partner 101 Larkspur Landing Circle, Suite 112, Larkspur, CA 94939
(415) 461-1010, ext. 123 ● Fax: (415) 925-2310Lic #: 01233478
The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.
DESCRIPTION OF PROPERTY - FEATURES:One of just a few properties that have direct access to Sir Francis Drake Boulevard, Marin’s principal thoroughfare with 65,000 vehicles per day. This is a well maintained pleasingly designed irreplaceable asset.
DESCRIPTION OF LOCATION - AREA:Close to Marin General Hospital and next door to Bon Air Shopping Center, this property is centered in the Gold Coast of Marin real estate, enjoying some of the highest rental rates in the county.
*Bronze seal in water fountain excluded from sale, family icon.
THE OFFERING:Keegan and Coppin Company, Inc. is pleased to offer this special property for sale.It was developed by the Seller in 1971 and served as the head office of Frank Howard Allen Company, Realtors until leased in 2000. Designed by architects Bushnell, Jessup, Murphy (Gil) and Van de Weghe, it is framed with redwood beams and surrounded now with mature landscaping. It is offered for sale for the first time by the broker/developer’s family.
Trophy Investment Property For Sale — First Time Ever505 Sir Francis Drake Blvd., Greenbrae, CA 94904
Matt Storms, Partner 101 Larkspur Landing Circle, Suite 112, Larkspur, CA 94939
(415) 461-1010, ext. 123 ● Fax: (415) 925-2310Lic #: 01233478
The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.
LEASE SUMMARY
Tenant Expiration Base Rent
Marin Health Ventures 6/30/2020 $23,152.00
Terms Annual Increases
NNN CPI (1.5% - 5%)
Owner pays building insurance
Gross Scheduled Income: $277,824.00
Less Building Insurance (est.): <$6,000.00>
Scheduled Net Income: $271,824.00
FEATURES/DETAILS > Rare Premium Marin Location > 16+ Parking, Freestanding Building > Direct Access from Sir Francis Drake Blvd. > Close to Marin General Hospital and 101 Freeway > Zoned C-2, APN: 022-040-26 > 13,575+/- Parcel > 5,244 Gross sq. ft., 4,800 Medical Rental sq. ft.
> Freestanding Lighted Sign > 65,000 Cars per Day > Solar Powered Building
SALE PRICE $4,900,000
(as measured by LASER tech)
Trophy Investment Property For Sale — First Time Ever505 Sir Francis Drake Blvd., Greenbrae, CA 94904
Matt Storms, Partner 101 Larkspur Landing Circle, Suite 112, Larkspur, CA 94939
(415) 461-1010, ext. 123 ● Fax: (415) 925-2310Lic #: 01233478
The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.
DEMOGRAPHICS: 1 Mile 3 Miles 5 Miles
Population: 13,084 82,856 153,602
Avg HH Income: $150,815 $147,160 $152,570
Median Home Value: $1,000,000+ Source: Claritas — Pop-Facts Premier 2017.
TRAFFIC COUNT: 65,000 per day
505
Sir F
ranc
is D
rake
▼
Highway 101
Bon Air Shopping Center
Trophy Investment Property For Sale — First Time Ever505 Sir Francis Drake Blvd., Greenbrae, CA 94904
Matt Storms, Partner 101 Larkspur Landing Circle, Suite 112, Larkspur, CA 94939
(415) 461-1010, ext. 123 ● Fax: (415) 925-2310Lic #: 01233478
The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.