Charming San Rafael Office
1115 Irwin San Rafael, CA 94939
For Sale
$1,198,000
Well-located office building with on-site parking and conversion potential.
Property Size2,729 SF
Price / SF$438.99
Days on Market441
Property Features for 1115 Irwin
General Information
Standard status
Active
Size
2,729 SF
Building Details
Year Built
1908
Listing Agency:
KEEGAN & COPPIN CO, INC
4611010
Listed By:
MATTHEW STORMS
Source:
Corcoran
Added: May 15, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 CO, INC
Investment Insights
Based on property information with market context.
This charming office building is well-located and features plentiful on-site parking. A new roof has been installed. The City of San Rafael indicates the property can be converted back to residential uses. The building offers 2729 square feet of space, suitable for small businesses.
Key Highlights
- Plentiful on‑site parking
- New roof
- Suitable for office small businesses
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $98.6k | $36.12 |
| − Vacancy | −$25.0k | −$9.17 |
| EGI | $73.5k | $26.95 |
| − OpEx | −$18.4k | −$6.74 |
| NOI | $55.2k | $20.21 |
2,729 SF · lease $36.12/SF/yr · vacancy 25.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$787.9K
$689.4K – $919.2K
NOI $55,151 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.33M
$11.66M – $15.55M
NOI $933,103 @ 7.0% cap · market cap 77.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Well-located office building with on-site parking and conversion potential.
Where is this office building located?
The property is located at 1115 Irwin San Rafael, CA.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: Plentiful on‑site parking; New roof; Suitable for office small businesses
