San Rafael Multifamily Investment
For Sale
$7,175,000
109 Professional Center Parkway, San Rafael, CA 94903
20-unit apartment complex in Marin County's growing tech hub.
Property Size14,348 SF
Price / SF$500.07
Days on Market366
Property Features for 109 Professional Center Parkway
General Information
Standard status
Active
Size
14,348 SF
Property subtype
Commercial
Amenities
Common Garage
Electric Heating
Building Details
Year Built
1962
Listing Agency:
JEFREY HENDERSON, BROKER
(408) 453-7461
Listed By:
JEFREY HENDERSON · License #01483399
(415) 535-7414
Source:
Corcoran
Added: Oct 7, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:05AM
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 JEFREY HENDERSON, BROKER
Investment Insights
Based on property information with market context.
Located at 109 Professional Center Parkway in San Rafael, The Heights Apartments comprise 20 units. The unit mix consists of ten 1-bedroom, 1-bathroom units and ten 2-bedroom, 1-bathroom units. The property, totaling 14,348 square feet, has undergone light renovations including LVT flooring and countertops. Situated in Marin County, which is emerging as a secondary tech hub due to the AI boom originating in San Francisco, the property offers investors the opportunity to leverage the area's expanding pool of skilled talent. With strong in-place cash flow and future upside potential, this property presents an opportunity in one of California's top rental markets.
Key Highlights
- Strong in‑place cash flow with future upside potential.
- Located in Marin County, one of California's top rental markets.
- Benefit from Marin County's emergence as a secondary tech hub due to the AI boom.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$207,846
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,156,920
$4.2M
Cap Rate 7%
$2,969,229
$3.0M
Cap Rate 9%
$2,309,400
$2.3M
Market Conditions
NOI Build-Up for 14,348 SF
Gross rent
$401.2K $27.96/SF
− Vacancy
−$23.3K −$1.62/SF
EGI
$377.9K $26.34/SF
− OpEx
−$170.1K −$11.85/SF
NOI
$207.8K $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 Rate 5%
$4,156,920
Cap Rate 7%
$2,969,229
Cap Rate 9%
$2,309,400
Alternative Uses
Best Use
Apartment 5plus
$2.97M
$2.60M – $3.46M
NOI $207,846 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$70.08M
$61.32M – $81.76M
NOI $4,905,886 @ 7.0% cap · market cap 68.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,231
Businesses Nearby
Explore this area
Business Placement
Demographics for 94903, CA
30,514
Population
12,708
Households
2.4
Avg Household Size
47
Median Age
55%
College-Educated
92%
High-School Grad
19.9 sq mi
ZIP Area
1,533
Density / Sq Mi
$127,464
Median Household Income
$57,527
Median Earnings
$3,026
Median Rent
$1,149,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 20-unit apartment complex in Marin County's growing tech hub.
Where is this apartment building located?
The property is located at 109 Professional Center Parkway San Rafael, CA.
What is the asking price?
The asking price for this property is $7,175,000.
What are key features of this property?
This property features: Strong in‑place cash flow with future upside potential.; Located in Marin County, one of California's top rental markets.; Benefit from Marin County's emergence as a secondary tech hub due to the AI boom.
