Medical Office and Dental
For Sale
Contact for pricing
7428 Redwood Blvd, Novato, CA 94945
Upgraded multi-tenant office building with a dental suite, urgent care space, and second-floor offices.
Property Size12,205 SF
Price / SF$344.12
Days on Market1245
Property Features for 7428 Redwood Blvd
General Information
Standard status
Active
Size
12,205 SF
Property subtype
OFFICE
Building Details
Tenancy
Multi
Listing Agency:
Meridian Commercial
(415) 451-4900
Listed By:
Nick Egide · License #01859524
(415) 328-3499
Source:
Moodyscre
Added: Jun 2, 2023
Changed: Oct 25
Last Checked: Oct 28 at 11:35AM
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 Meridian Commercial
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Investment Insights
Based on property information with market context.
7428 Redwood Boulevard is a multi-tenant office building that has undergone significant upgrades over the last five years. The property includes a high-end dental suite, an urgent care office, and second-floor office spaces.
The building is offered for sale in Novato, California. Public remarks indicate staggered lease expiration dates.
This configuration provides a mix of office and medical-related uses under one roof, supported by recent improvements and differentiated lease timing.
The building is offered for sale in Novato, California. Public remarks indicate staggered lease expiration dates.
This configuration provides a mix of office and medical-related uses under one roof, supported by recent improvements and differentiated lease timing.
Key Highlights
- Upgraded multi‑tenant office building in Novato, CA
- Tenant mix includes a dental suite and an urgent care office
- Includes second‑floor office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$246,653
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,933,060
$4.9M
Cap Rate 7%
$3,523,614
$3.5M
Cap Rate 9%
$2,740,589
$2.7M
Market Conditions
NOI Build-Up for 12,205 SF
Gross rent
$440.8K $36.12/SF
− Vacancy
−$112.0K −$9.17/SF
EGI
$328.9K $26.95/SF
− OpEx
−$82.2K −$6.74/SF
NOI
$246.7K $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%
$4,933,060
Cap Rate 7%
$3,523,614
Cap Rate 9%
$2,740,589
Alternative Uses
Best Use
Office B
$3.52M
$3.08M – $4.11M
NOI $246,653 @ 7.0% cap · market cap 5.87%
Second Best
Healthcare Medical
$2.99M
$2.61M – $3.48M
NOI $209,057 @ 7.0% cap · market cap 4.98%
Theoretical Best
Specialty Retail
$59.62M
$52.16M – $69.55M
NOI $4,173,149 @ 7.0% cap · market cap 99.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,589
Businesses Nearby
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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 - Upgraded multi-tenant office building with a dental suite, urgent care space, and second-floor offices.
Where is this office building located?
The property is located at 7428 Redwood Blvd Novato, CA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Upgraded multi‑tenant office building in Novato, CA; Tenant mix includes a dental suite and an urgent care office; Includes second‑floor office space
