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    Sausalito Commercial Buildings on Bridgeway Title is generated by Realmo AI

    1917 Bridgeway, Sausalito, CA 94965

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    For Sale
    $2,750,000

    Two commercial buildings in Sausalito with established tenants.

    Type:Retail
    Property size:
    1,911 SF
    Price / SF:
    $1,439/SF
    Added:
    Jun 11, 2023
    Days on Market:
    1091
    Last Refresh:
    May 13 at 8:38 pm

    Property Features for 1917 Bridgeway

    General Information

    Standard status
    Active
    Size
    1,911 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1917

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    Listing Contact
    Hancock Commercial

    Listing agent Hancock Commercial

    Listing office Hancock Commercial

    Listing date Jun 11, 2023

    Source Xome

    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 Hancock Commercial

    HighLights

    • Highly visible corner location on Bridgeway & Spring Street.
    • Two commercial buildings on two lots in Sausalito.
    • Fully occupied by three commercial tenants.
    • Approximately 10 private parking spaces.
    • Established tenant: Fred's Coffee Shop (since 1966).
    • Potential to purchase restaurant separately and collect rent from other tenants.

    Overview

    Two commercial buildings are available for purchase on two lots located at 1917-1919 Bridgeway in Sausalito. The property benefits from a highly visible corner location. The buildings are fully occupied by three commercial tenants. Lot 1, located at 1917 Bridgeway, has an APN of 064-141-02 and was built in 1917. According to tax records, this building has 1911 square feet. Lot 2, located at 1919 Bridgeway, has an APN of 064-141-01 and was built in 1931. Tax records indicate this building has 755 square feet. The ground floor of 1917 Bridgeway is occupied by Fred's Coffee Shop, which has been established since 1966. The second floor of 1917 Bridgeway houses Ocean Spa. The ground floor of 1919 Bridgeway is occupied by SwanZen Spa. The property is located in the City of Sausalito, across the Golden Gate Bridge, at the corner of Bridgeway and Spring Street. Approximately 10 private parking spaces are available. There is a possibility that a buyer could purchase the restaurant separately to operate their own business while collecting rent from the other two tenants. The intended use of the property is for commercial purposes, including retail, coffee shops, restaurants, spas, wellness, and healthcare.
    Property Profile Location Intelligence

    Current Use by Public Records

    FRED'S Place Restaurant Ocean Spa Alternative Medicine Practice Health Garden Spa Alternative Medicine Practice Oriental Massage Ocean ... Alternative Medicine Practice

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sausalito
    County
    Marin
    State
    California
    Longitude
    -122.494643
    Latitude
    37.8618415

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    FAQs

    What type of property is this?
    Retail space - Two commercial buildings in Sausalito with established tenants.
    Where is this retail space located?
    The property is located at 1917 Bridgeway Sausalito, CA.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: Highly visible corner location on Bridgeway & Spring Street.; Two commercial buildings on two lots in Sausalito.; Fully occupied by three commercial tenants.
    (415) 260-9589
    We can help!
    Listing Contact
    Hancock Commercial
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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