Residential Income Property with Carport
For Sale
$262,500
Pending
1002 El Granada Circle, Novato, CA 94949
For sale in Marin with gated entry and two-car tandem parking in a carport.
Property Size1,464 SF
Days on Market75
Property Features for 1002 El Granada Circle
General Information
Standard status
Pending
Size
1,464 SF
Total Parking Spaces
2
Property subtype
Manufactured In Park
Amenities
Accessible Approach with Ramp, Grip-Accessible Features
Ceiling Fan(s), Central Air
Central
Built-In Refrigerator, Dishwasher, Disposal, Double Oven, Free-Standing Refrigerator, Gas Cooktop, Gas Water Heater
Pantry
Covered, Guest, Off Street
Storage
Building Details
Year Built
1974
Listing Agency:
(415) 654-1711
Listed By:
Marty M. Wickenheiser
(415) 654-1711
Source:
Evrealestate
Added: Jun 9
Changed: Aug 20
Last Checked: Aug 19 at 5:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marty M. Wickenheiser
Investment Insights
Based on property information with market context.
This residential income property is offered for sale and includes covered, tandem parking in a carport for two vehicles. Entry is controlled through gates, supporting an organized arrival and day-to-day access.
Access directions provided for the property start from 101 to Nave Dr, then turn onto Roblar to enter through the gates. From there, the route continues with a first right at the stop sign and then right on El Granada.
The property’s gated access and tandem carport parking can be practical for tenants and owners looking for straightforward vehicle accommodation. Prospective buyers may find the layout and parking arrangement useful for day-to-day convenience, while the described on-site access route supports easy visitor and service travel to the property.
Access directions provided for the property start from 101 to Nave Dr, then turn onto Roblar to enter through the gates. From there, the route continues with a first right at the stop sign and then right on El Granada.
The property’s gated access and tandem carport parking can be practical for tenants and owners looking for straightforward vehicle accommodation. Prospective buyers may find the layout and parking arrangement useful for day-to-day convenience, while the described on-site access route supports easy visitor and service travel to the property.
Key Highlights
- Gated entry and two‑car tandem parking in a carport
- Central air conditioning and central heating
- Kitchen appliances include double oven, gas cooktop, dishwasher, disposal, and built‑in refrigerator
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,208
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$424,160
$424.2K
Cap Rate 7%
$302,971
$303.0K
Cap Rate 9%
$235,644
$235.6K
Market Conditions
NOI Build-Up for 1,464 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.9K $27.96/SF
− Vacancy
−$2.4K −$1.62/SF
EGI
$38.6K $26.34/SF
− OpEx
−$17.4K −$11.85/SF
NOI
$21.2K $14.49/SF
Area
Marin County, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$424,160
Cap Rate 7%
$302,971
Cap Rate 9%
$235,644
Alternative Uses
Best Use
Apartment 5plus
$303.0K
$265.1K – $353.5K
NOI $21,208 @ 7.0% cap · market cap 8.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.15M
$6.26M – $8.34M
NOI $500,573 @ 7.0% cap · market cap 190.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,317
Businesses Nearby
Explore this area
Business Placement
Demographics for 94949, CA
17,588
Population
7,541
Households
2.3
Avg Household Size
46
Median Age
48%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
1,313
Density / Sq Mi
$116,101
Median Household Income
$60,149
Median Earnings
$2,596
Median Rent
$1,075,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mobile home & RV park - For sale in Marin with gated entry and two-car tandem parking in a carport.
Where is this mobile home & rv park located?
The property is located at 1002 El Granada Circle Novato, CA.
What is the asking price?
The asking price for this property is $262,500.
What are key features of this property?
This property features: Gated entry and two‑car tandem parking in a carport; Central air conditioning and central heating; Kitchen appliances include double oven, gas cooktop, dishwasher, disposal, and built‑in refrigerator
