Dental Office with Residential
For Sale
$1,395,000
2022 4th Street, San Rafael, CA 94901
ADA-compliant dental office with three operating rooms below a 2-bedroom, 2-bath penthouse residence with balcony.
Property Size3,240 SF
Days on Market77
Property Features for 2022 4th Street
General Information
Standard status
Active
Size
3,240 SF
Total Parking Spaces
6
Lease Term
Month To Month
Amenities
Front Sign, Living Area in Building, Patio, Reception Area, Washer/Dryer Owned
Central Air
Central
Carport, Electric Gate, Open
Building Details
Building Size
3,240 SF
Year Built
1922
Buildings
1
Stories
2
Listing Agency:
(415) 306-3060
Listed By:
John T. Hendricks
Source:
Evrealestate
Added: Jun 9
Changed: Aug 23
Last Checked: Aug 24 at 3:14AM
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 John T. Hendricks
Investment Insights
Based on property information with market context.
This mixed-use property combines a tenant-occupied, fully ADA-compliant dental office on the ground level with a residential penthouse-style home above. The commercial suite includes a welcoming reception area, three operating rooms, and kitchen/lab space, along with an entry deck, full HVAC, and excellent street visibility. Dedicated parking is provided with six spaces.
Above, the spacious residence offers two bedrooms and two bathrooms with vaulted ceilings and abundant natural light. A sunroom balcony provides outdoor space with scenic views, and there is a flexible formal dining room or den. Separate utility meters enhance ownership flexibility.
Located along Miracle Mile on high-traffic 4th Street in San Rafael, the property is described as being minutes from downtown San Rafael and San Anselmo, with access to nearby dining, shopping, and major commute routes.
Above, the spacious residence offers two bedrooms and two bathrooms with vaulted ceilings and abundant natural light. A sunroom balcony provides outdoor space with scenic views, and there is a flexible formal dining room or den. Separate utility meters enhance ownership flexibility.
Located along Miracle Mile on high-traffic 4th Street in San Rafael, the property is described as being minutes from downtown San Rafael and San Anselmo, with access to nearby dining, shopping, and major commute routes.
Key Highlights
- Mixed‑use building (built 1922) with 3,240 SF total: ADA‑compliant dental office plus 1,749 SF 2‑bed/2‑bath penthouse residence
- Lower level dental office includes reception, three operating rooms, kitchen/lab space, entry deck, and full HVAC
- Dental office offers six dedicated parking spaces and is tenant occupied
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
$65,610
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
4.70%
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%
$1,312,200
$1.3M
Cap Rate 7%
$937,286
$937.3K
Cap Rate 9%
$729,000
$729.0K
Market Conditions
NOI Build-Up for 3,240 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
$116.6K $36.00/SF
− Vacancy
−$11.7K −$3.60/SF
EGI
$105.0K $32.40/SF
− OpEx
−$39.4K −$12.15/SF
NOI
$65.6K $20.25/SF
Area
Marin County, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,312,200
Cap Rate 7%
$937,286
Cap Rate 9%
$729,000
Alternative Uses
Best Use
Mixed Use
$937.3K
$820.1K – $1.09M
NOI $65,610 @ 7.0% cap · market cap 4.70%
Second Best
Office B
$935.4K
$818.5K – $1.09M
NOI $65,478 @ 7.0% cap · market cap 4.69%
Theoretical Best
Specialty Retail
$15.83M
$13.85M – $18.46M
NOI $1,107,825 @ 7.0% cap · market cap 79.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
Explore this area
Business Placement
Demographics for 94901, CA
43,338
Population
16,412
Households
2.6
Avg Household Size
40
Median Age
48%
College-Educated
82%
High-School Grad
13.1 sq mi
ZIP Area
3,308
Density / Sq Mi
$108,837
Median Household Income
$50,122
Median Earnings
$2,229
Median Rent
$1,369,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - ADA-compliant dental office with three operating rooms below a 2-bedroom, 2-bath penthouse residence with balcony.
Where is this live-work space located?
The property is located at 2022 4th Street San Rafael, CA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Mixed‑use building (built 1922) with 3,240 SF total: ADA‑compliant dental office plus 1,749 SF 2‑bed/2‑bath penthouse residence; Lower level dental office includes reception, three operating rooms, kitchen/lab space, entry deck, and full HVAC; Dental office offers six dedicated parking spaces and is tenant occupied
