Upgraded Office Dual
For Sale
Contact for pricing
1615 Hill Rd, Novato, CA 94947
Upgraded dual office unit with reception, open workspace, private restroom, and kitchenette.
Property Size1,135 SF
Price / SF$590.31
Days on Market749
Property Features for 1615 Hill Rd
General Information
Standard status
Active
Size
1,135 SF
Property subtype
OFFICE
Amenities
abundant natural light
reception
open work area
private restroom
kitchenette
break/conference room with a sink
Listing Agency:
Cushman & Wakefield | Larkspur
(415) 485-0500
Listed By:
Steven Leonard · License #00909604
(415) 451-2434
Source:
Moodyscre
Added: Sep 19, 2024
Changed: Sep 13
Last Checked: Oct 7 at 1:44PM
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 Cushman & Wakefield | Larkspur
Investment Insights
Based on property information with market context.
This upgraded dual office unit is designed for everyday professional use, featuring a reception area, an open work space, and dedicated private restroom. Additional interior improvements include a kitchenette and a break or conference room with a sink. The space also benefits from abundant natural light.
The property is offered for sale at 1615 Hill Rd in Novato, CA 94947. (Address provided for identification purposes.)
With its combination of reception, open work area, and dedicated support spaces, the layout is well suited for an office tenant looking for multiple functional areas within a single dual-unit configuration.
The property is offered for sale at 1615 Hill Rd in Novato, CA 94947. (Address provided for identification purposes.)
With its combination of reception, open work area, and dedicated support spaces, the layout is well suited for an office tenant looking for multiple functional areas within a single dual-unit configuration.
Key Highlights
- Upgraded dual office unit
- Includes reception area
- Open work area for flexible office use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,937
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,740
$458.7K
Cap Rate 7%
$327,671
$327.7K
Cap Rate 9%
$254,856
$254.9K
Market Conditions
NOI Build-Up for 1,135 SF
Gross rent
$41.0K $36.12/SF
− Vacancy
−$10.4K −$9.17/SF
EGI
$30.6K $26.95/SF
− OpEx
−$7.6K −$6.74/SF
NOI
$22.9K $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%
$458,740
Cap Rate 7%
$327,671
Cap Rate 9%
$254,856
Alternative Uses
Best Use
Office B
$327.7K
$286.7K – $382.3K
NOI $22,937 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.54M
$4.85M – $6.47M
NOI $388,081 @ 7.0% cap · market cap 57.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Explore this area
Business Placement
Demographics for 94947, CA
24,870
Population
9,426
Households
2.6
Avg Household Size
46
Median Age
47%
College-Educated
89%
High-School Grad
21.9 sq mi
ZIP Area
1,136
Density / Sq Mi
$126,690
Median Household Income
$62,571
Median Earnings
$2,526
Median Rent
$995,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Upgraded dual office unit with reception, open workspace, private restroom, and kitchenette.
Where is this office units located?
The property is located at 1615 Hill Rd Novato, CA.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Upgraded dual office unit; Includes reception area; Open work area for flexible office use
