Seven-Unit Retail and Office
For Sale
Contact for pricing
1300 Grant Avenue, Novato, CA 94945
Fully leased, professionally managed seven-unit property on Grant Avenue with strong visibility and diversified tenancy in Downtown Novato.
Property Size6,715 SF
Price / SF$268.06
Days on Market52
Property Features for 1300 Grant Avenue
General Information
Standard status
Active
Size
6,715 SF
Class
B
Total Parking Spaces
24
Property subtype
Retail, Office
Zoning
CDR
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$111,399
Additional Details
Highway Access
Yes
Office Units
7
Building Details
Year Built
1986
Buildings
1
Units
7
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Drysdale Properties - Novato
(916) 250-8118
Listed By:
Matthew A Thomas · License #01334223
Source:
Crexi
Added: Jul 2
Changed: Aug 16
Last Checked: Aug 21 at 6:37PM
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 Berkshire Hathaway HomeServices Drysdale Properties - Novato
Investment Insights
Based on property information with market context.
1300 Grant Avenue is a seven-unit commercial property offering a fully leased, professionally managed setup with in-place revenue. The asset is positioned along Grant Avenue and is described as well maintained and well presented, reflecting consistent ownership attention to upkeep and tenant-ready presentation. With multiple units and a diversified tenant roster, the configuration is designed to reduce reliance on a single occupant and provide operational flexibility within the property.
Located in the heart of Downtown Novato, the building benefits from strong street frontage and visibility. The property is noted for immediate access to Downtown Novato’s restaurants, retail amenities, and professional services, with Highway 101 nearby to support convenient regional connectivity. The surrounding mix of services serving the local residential and commercial community supports continued activity along the corridor.
For buyers seeking a stabilized, income-producing investment, this offering provides the practical advantage of established tenancy and professional management within a compact seven-unit structure. Tenants and operators benefit from a downtown commercial setting with dependable storefront access and an already functioning tenant base. The property’s availability as a fully occupied asset in a long-established Marin County retail and office corridor adds to its appeal for those looking for a turnkey commercial ownership experience.
Located in the heart of Downtown Novato, the building benefits from strong street frontage and visibility. The property is noted for immediate access to Downtown Novato’s restaurants, retail amenities, and professional services, with Highway 101 nearby to support convenient regional connectivity. The surrounding mix of services serving the local residential and commercial community supports continued activity along the corridor.
For buyers seeking a stabilized, income-producing investment, this offering provides the practical advantage of established tenancy and professional management within a compact seven-unit structure. Tenants and operators benefit from a downtown commercial setting with dependable storefront access and an already functioning tenant base. The property’s availability as a fully occupied asset in a long-established Marin County retail and office corridor adds to its appeal for those looking for a turnkey commercial ownership experience.
Key Highlights
- Seven‑unit commercial property at 1300 Grant Avenue in Downtown Novato
- Fully leased with in‑place revenue and professionally managed by current ownership
- Diversified tenant roster across seven units to reduce reliance on a single occupant
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
$135,704
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
7.54%
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%
$2,714,080
$2.7M
Cap Rate 7%
$1,938,629
$1.9M
Cap Rate 9%
$1,507,822
$1.5M
Market Conditions
NOI Build-Up for 6,715 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
$242.5K $36.12/SF
− Vacancy
−$61.6K −$9.17/SF
EGI
$180.9K $26.95/SF
− OpEx
−$45.2K −$6.74/SF
NOI
$135.7K $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 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%
$2,714,080
Cap Rate 7%
$1,938,629
Cap Rate 9%
$1,507,822
Alternative Uses
Best Use
Retail
$30.61M
$26.79M – $35.72M
NOI $2,142,934 @ 7.0% cap · market cap 119.05%
Second Best
Office B
$1.94M
$1.70M – $2.26M
NOI $135,704 @ 7.0% cap · market cap 7.54%
Theoretical Best
Specialty Retail
$32.80M
$28.70M – $38.27M
NOI $2,296,001 @ 7.0% cap · market cap 127.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,761
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully leased, professionally managed seven-unit property on Grant Avenue with strong visibility and diversified tenancy in Downtown Novato.
Where is this retail space located?
The property is located at 1300 Grant Avenue Novato, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Seven‑unit commercial property at 1300 Grant Avenue in Downtown Novato; Fully leased with in‑place revenue and professionally managed by current ownership; Diversified tenant roster across seven units to reduce reliance on a single occupant
