Fairfax Mixed-Use Development
2170 Sir Francis Drake Boulevard Fairfax, CA 94930
2170 Sir Francis Drake Boulevard, Fairfax, CA, 94930
$2,650,000
For Sale
$2,650,000
1.22-acre property with development potential in Fairfax's Commercial Limited district.
Property Size6,113 SF
Lot Size1.17 Acres
Price / SF$433.50
Days on Market177
Property Features for 2170 Sir Francis Drake Boulevard
General Information
- Standard status
- Active
- Size
- 6,113 SF
- Lot size
- 1.17 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1903
Listing Agency
ARG REAL ESTATE
(415) 724-6391
Listed by
JASON D GOMEZ
Source
Corcoran
Added: Jan 23 Checked: Jul 19 at 4:27 am
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 ARG REAL ESTATE
Investment Insights
Based on property information with market context.
This 1.22-acre property is located in Fairfax within the Commercial Limited (CL) zoning district and identified by the Town of Fairfax as a housing opportunity location within the town's Workforce overlay map. The property contains two primary structures. The first is a renovated Victorian building, formerly an art gallery, featuring a bright, open main level and a large, open lower level previously used as additional gallery space. This building is versatile for creative, commercial, or mixed-use concepts. The second structure, referred to as 'The Barn', is a freestanding building with wide-open interiors, last used as a retail shop. The site also includes several smaller outbuildings that were recently used by local artisans for small-scale creative work and craft production, offering additional utility or future redevelopment options. The property, also known as 10 Olema Rd, features expansive grounds, mature natural surroundings, and close proximity to downtown Fairfax.
Key Highlights
- 1.22‑acre property in the heart of Fairfax with Commercial Limited (CL) zoning.
- Identified as a housing opportunity location within the town's Workforce overlay map.
- Two primary structures: Renovated Victorian and a freestanding Barn.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $220.1k | $36.00 |
| − Vacancy | −$22.0k | −$3.60 |
| EGI | $198.1k | $32.40 |
| − OpEx | −$74.3k | −$12.15 |
| NOI | $123.8k | $20.25 |
6,113 SF · lease $36.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$27.87M
$24.39M – $32.51M
NOI $1,950,820 @ 7.0% cap · market cap 73.62%
Second Best
Mixed Use
$1.77M
$1.55M – $2.06M
NOI $123,788 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$29.86M
$26.13M – $34.84M
NOI $2,090,165 @ 7.0% cap · market cap 78.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - 1.22-acre property with development potential in Fairfax's Commercial Limited district.
Where is this mixed-use property located?
The property is located at 2170 Sir Francis Drake Boulevard Fairfax, CA.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 1.22‑acre property in the heart of Fairfax with Commercial Limited (CL) zoning.; Identified as a housing opportunity location within the town's Workforce overlay map.; Two primary structures: Renovated Victorian and a freestanding Barn.
