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    215 Picnic Ave San Rafael, CA 94901

    Sponsored
    For Sale
    $2,000,000

    Quadruplex - San Rafael, CA

    Type:Quadruplex
    Lot size:
    0.23 Acres
    Days on Market:
    209
    Last Refresh:
    Jan 24 at 1:06 am

    Property Features for 215 Picnic Ave

    General Information

    Property type
    Other
    Property subtype
    Quadruplex
    Standard status
    Active
    APN
    013-122-01
    Parking
    9
    Lot size
    0.23 Acres

    Utilities

    Heating system
    Central, Wall Furnace
    Cooling system
    Ceiling Fan(s)

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Matthew Lodge

    Sonoam County Properties Inc. (707) 484-9372

    Listing agent Matthew Lodge (707) 823-2533 License #02034854

    Listing date Jun 30, 2025

    MLS# 325038743 Listing URL

    Copyright © 2026 Bay Area Real Estate Information Services, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Spacious Fourplex with Bay Views

    Located in San Rafael, this fourplex offers approximately 3,200 square feet of living space across four units. The property is situated in a prime location with bay views from multiple units, creating an open and spacious environment. The floor plans are designed for easy flow, suitable for entertaining or quiet living. Natural light fills the interiors through numerous windows, enhancing the warm and inviting atmosphere. The lot size is 0.2313 acres. San Rafael provides a vibrant community with various amenities, including shopping centers, restaurants, parks, and recreational facilities. The city's cultural scene features art galleries, theaters, and music venues. Outdoor activities are accessible via nearby hiking trails and waterways for boating and fishing. Excellent schools are within walking distance. Public transportation options and proximity to major roadways facilitate convenient commutes and travel. This property presents an opportunity to own real estate in San Rafael, combining comfortable living with investment potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Clothing Store Nail Salon Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Rafael
    County
    Marin
    State
    California
    Longitude
    -122.5277858
    Latitude
    37.9644235

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    FAQs

    What type of property is this?
    Quadplex - Four-unit property in San Rafael with bay views and investment potential.
    Where is this quadplex located?
    The property is located at 215 Picnic Ave San Rafael, CA.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: - Bay views from multiple units; - Fourplex with approximately 3,200 square feet of living space; - Prime San Rafael location close to shopping, restaurants, parks, and recreation
    (707) 799-9173
    Request Owner's contact information
    215 Picnic Ave San Rafael, CA 94901
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    San Rafael, CA 94901
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    215 Picnic Ave San Rafael, CA 94901
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    We can help!
    Listing Contact
    Matthew Lodge
    Real Estate License ID: 02034854
    (707) 799-9173
    Learn more
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