Building Details

Year Built 1961

Listing Agency: RE/MAX Accord Show Phone

Listed By: Kevin Obrien · License #01385083 Show Phone

Source: Exitrealty

Added: Aug 21 Changed: Oct 4 Last Checked: Oct 11 at 5:25AM

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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 RE/MAX Accord

Investment Insights

Based on property information with market context.

Built in 1961, this mixed-use property contains five upstairs apartments: two with two bedrooms and three with one bedroom. The lower level provides three separate retail, office, or commercial spaces under General Commercial / Mixed Use zoning. Recent improvements include sound-limiting measures between units, and the building has been maintained in excellent condition.

The property is adjacent to a fire station, with parking available for tenants and visibility toward Hwy-1 / Shoreline Hwy. It is located less than a mile from Tam Junction and approximately 6 miles from Muir Beach. Proforma cap rates are stated at 5.6% with current tenants and 7% through HUD programs.

Key Highlights

• Five upstairs apartments with a mix of two‑bedroom and one‑bedroom units
• Three downstairs retail, office, or commercial spaces
• General Commercial / Mixed Use zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$118,847

Cap Rate

3.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,376,940 $2.4M

Cap Rate 7%

$1,697,814 $1.7M

Cap Rate 9%

$1,320,522 $1.3M

Market Conditions

NOI Build-Up for 5,869 SF

Gross rent

$211.3K $36.00/SF

− Vacancy

−$21.1K −$3.60/SF

EGI

$190.2K $32.40/SF

− OpEx

−$71.3K −$12.15/SF

NOI

$118.8K $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 Rate 5%

$2,376,940

Cap Rate 7%

$1,697,814

Cap Rate 9%

$1,320,522

Alternative Uses

Best Use

Retail

$26.76M

$23.41M – $31.22M (±1% cap)

NOI $1,872,953 @ 7.0% cap · market cap 62.43%

Second Best

Mixed Use

$1.70M

$1.49M – $1.98M (±1% cap)

NOI $118,847 @ 7.0% cap · market cap 3.96%

Theoretical Best

Specialty Retail

$28.67M

$25.08M – $33.45M (±1% cap)

NOI $2,006,736 @ 7.0% cap · market cap 66.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

New Moves Gym & Fitness Center MAR integrative Physician

Suggested Use

Top Pick Hair Salon Real Estate Agency Dental Office Building Supply HVAC Service Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

369

Businesses Nearby

Explore this area Business Placement

Demographics for 94941, CA

31,480

Population

13,860

Households

2.3

Avg Household Size

47

Median Age

77%

College-Educated

99%

High-School Grad

37.7 sq mi

ZIP Area

835

Density / Sq Mi

$210,217

Median Household Income

$100,535

Median Earnings

$2,949

Median Rent

$1,990,100

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Well-maintained property combines residential rentals with General Commercial / Mixed Use space and tenant parking.

Where is this mixed-use property located?

The property is located at 301 Poplar St Mill Valley, CA.

What is the asking price?

The asking price for this property is $3,000,000.

What are key features of this property?

This property features: Five upstairs apartments with a mix of two‑bedroom and one‑bedroom units; Three downstairs retail, office, or commercial spaces; General Commercial / Mixed Use zoning