Multi-Tenant Office
For Sale
$1,299,000
1025 Fifth St, Novato, CA 94945
A mix of one- and two-story suites supports separate office occupancies under one roof.
Property Size3,597 SF
Lot Size0.34 Acres
Price / SF$361.13
Days on Market202
Property Features for 1025 Fifth St
General Information
Standard status
Active
Size
3,597 SF
Total Parking Spaces
13
Lot size
0.34 Acres
Zoning
CBD
Additional Details
Condition
Newly Renovated
Gross Income
$82,946
Utilities to Site
Yes
Tenant in Place
Yes
Property Use
Office
Amenities
solar panels
separate HVAC units
Building Details
Year Built
1947
Buildings
2
Construction
Wood frame
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Keegan & Coppin Company, Inc
Listed By:
Rhonda Deringer · License #01206401
(707) 528-1400
Source:
Somorealty
Added: Apr 15
Changed: Nov 1
Last Checked: Nov 1 at 3:01PM
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 Keegan & Coppin Company, Inc
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Investment Insights
Based on property information with market context.
This downtown office property includes a 3,597+/- square-foot building with one- and two-story sections and multiple professional suites. A separate 465+/- square-foot, two-car garage adds to the improvements. The building was constructed in 1947/1949 and recently remodeled. Separate HVAC units serve each suite, while the property has one PG&E and water meter. Solar panels are installed on the roof, and the on-site lot provides 13 parking spaces, including the garage.
Located in downtown Novato near Grant Avenue and Vallejo Avenue, the property is zoned CBD (Downtown Core Business District). Neighboring properties are zoned office commercial and residential. Multiple suites are leased or owner-occupied, with current leases on a month-to-month basis.
Located in downtown Novato near Grant Avenue and Vallejo Avenue, the property is zoned CBD (Downtown Core Business District). Neighboring properties are zoned office commercial and residential. Multiple suites are leased or owner-occupied, with current leases on a month-to-month basis.
Key Highlights
- 3,597+/- square‑foot office building with multiple professional suites
- Separate 465+/- square‑foot garage building with two‑car capacity
- One- and two‑story sections accommodate multiple office suites
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,692
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,453,840
$1.5M
Cap Rate 7%
$1,038,457
$1.0M
Cap Rate 9%
$807,689
$807.7K
Market Conditions
NOI Build-Up for 3,597 SF
Gross rent
$129.9K $36.12/SF
− Vacancy
−$33.0K −$9.17/SF
EGI
$96.9K $26.95/SF
− OpEx
−$24.2K −$6.74/SF
NOI
$72.7K $20.21/SF
Area
Marin County, CA
Vacancy
25.40%
Lease Rate
$36.12 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,453,840
Cap Rate 7%
$1,038,457
Cap Rate 9%
$807,689
Alternative Uses
Best Use
Office B
$1.04M
$908.7K – $1.21M
NOI $72,692 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$17.57M
$15.37M – $20.50M
NOI $1,229,891 @ 7.0% cap · market cap 94.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,729
Businesses Nearby
Explore this area
Business Placement
Demographics for 94945, CA
17,876
Population
7,355
Households
2.4
Avg Household Size
47
Median Age
52%
College-Educated
92%
High-School Grad
23.3 sq mi
ZIP Area
767
Density / Sq Mi
$109,750
Median Household Income
$65,060
Median Earnings
$2,168
Median Rent
$1,094,300
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - A mix of one- and two-story suites supports separate office occupancies under one roof.
Where is this office building located?
The property is located at 1025 Fifth St Novato, CA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 3,597+/- square‑foot office building with multiple professional suites; Separate 465+/- square‑foot garage building with two‑car capacity; One- and two‑story sections accommodate multiple office suites
