Two-Level Duplex with
New
For Sale
$1,500,000
11 Shady Lane, Larkspur, CA 94939
Separately accessed living spaces provide individual kitchens, full bathrooms, fireplaces, and outdoor decks.
Property Size1,651 SF
Price / SF$908.54
Days on Market7
Property Features for 11 Shady Lane
General Information
Standard status
Active
Size
1,651 SF
Property subtype
Land
Additional Details
Road Access
Yes
Amenities
deck
Building Details
Stories
2
Listing Agency:
Brian Durnian, Calistoga Realty Co Inc
Listed By:
The Jamison Team · License #327646
(408) 465-4899
Source:
Tuscanaproperties
Added: Sep 6
Changed: Sep 11
Last Checked: Sep 12 at 7:37AM
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 Brian Durnian, Calistoga Realty Co Inc
Investment Insights
Based on property information with market context.
This 1,651-square-foot duplex is arranged across two levels, with each residence reached through its own entrance. Both units include a kitchen, full bathroom, fireplace, closet space, and private outdoor living area. The lower residence adds a flexible living room or studio area, walk-in closet, and deck, while the upper unit includes a living room, wraparound deck, and tree views. Vintage gas stoves serve both kitchens and have been professionally inspected and reconditioned.
Set on a wooded cul-de-sac at 11 Shady Lane in Larkspur, the property offers a tranquil residential setting near hiking trails and Dolliver Park. Downtown Larkspur and Corte Madera are minutes away, with local dining and coffee options nearby.
Set on a wooded cul-de-sac at 11 Shady Lane in Larkspur, the property offers a tranquil residential setting near hiking trails and Dolliver Park. Downtown Larkspur and Corte Madera are minutes away, with local dining and coffee options nearby.
Key Highlights
- Duplex configured on two levels with 1,651 square feet
- Each unit has a private entrance, kitchen, full bathroom, fireplace, and deck
- Lower residence includes a flexible living room or studio area and walk‑in closet
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
$55,416
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
3.69%
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%
$1,108,320
$1.1M
Cap Rate 7%
$791,657
$791.7K
Cap Rate 9%
$615,733
$615.7K
Market Conditions
NOI Build-Up for 1,651 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
$84.2K $51.00/SF
− Vacancy
−$5.0K −$3.05/SF
EGI
$79.2K $47.95/SF
− OpEx
−$23.7K −$14.39/SF
NOI
$55.4K $33.57/SF
Area
Marin County, CA
Vacancy
5.98%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,108,320
Cap Rate 7%
$791,657
Cap Rate 9%
$615,733
Alternative Uses
Best Use
Multifamily LT 5
$791.7K
$692.7K – $923.6K
NOI $55,416 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$341.7K
$299.0K – $398.6K
NOI $23,917 @ 7.0% cap · market cap 1.59%
Theoretical Best
Specialty Retail
$8.06M
$7.06M – $9.41M
NOI $564,512 @ 7.0% cap · market cap 37.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Explore this area
Business Placement
Demographics for 94939, CA
7,465
Population
3,691
Households
2
Avg Household Size
48
Median Age
76%
College-Educated
98%
High-School Grad
2.4 sq mi
ZIP Area
3,110
Density / Sq Mi
$182,743
Median Household Income
$84,235
Median Earnings
$3,104
Median Rent
$2,000,001
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Separately accessed living spaces provide individual kitchens, full bathrooms, fireplaces, and outdoor decks.
Where is this duplex located?
The property is located at 11 Shady Lane Larkspur, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Duplex configured on two levels with 1,651 square feet; Each unit has a private entrance, kitchen, full bathroom, fireplace, and deck; Lower residence includes a flexible living room or studio area and walk‑in closet
