Waterfront Mixed-Use
For Sale
$5,995,000
599 Bridgeway, Sausalito, CA 94965
Renovated office improvements, ground-floor retail, secure garage parking, and central commercial zoning with a downtown historic overlay.
Property Size8,400 SF
Price / SF$713.69
Days on Market552
Property Features for 599 Bridgeway
General Information
Standard status
Active
Size
8,400 SF
Net Rentable
5,900 SF
Total Parking Spaces
9
Property subtype
Mixed Use
Zoning
central commercial
Amenities
Central Air
3
Concrete
Intercom System
Waterfront.
9 Parking Spaces. Private, Garage, Secured.
Fire Escape. In City, City Road.
Building Details
Year Built
1922
Year Renovated
2002
Buildings
1
Listing Agency:
Colliers International
(415) 699-4681
Listed By:
Joseph William Giovara · License #01449059
(415) 699-4681
Source:
Xome
Added: Feb 24, 2025
Changed: Aug 29
Last Checked: Apr 24 at 6:38PM
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 Colliers International
Investment Insights
Based on property information with market context.
This mixed-use property combines renovated office and retail improvements within a 1922 building. The upper-level office component offers approximately 5,900 rsf with a reception area, 10 private offices, a conference room, seven workstations, a kitchenette, and three ADA restrooms. Renovation work was completed in 2002, followed by a 2012 refresh. A Bridgeway-level lobby connects to the office floor by a circular staircase, while the lower level includes nine secure garage parking spaces and a drive-in area with a 12' roll-up door.
The property sits along the Sausalito waterfront with views extending toward Angel Island and San Francisco. Central Commercial zoning with a downtown historic overlay supports the building’s mixed-use character. The ground-floor retail space is occupied by Prince Estate Jewelry, with rental income identified through 8/2024. Additional building systems include 400+ Amp Service, fire suppression, a security system, dual-pane full windows, and concrete construction.
The property sits along the Sausalito waterfront with views extending toward Angel Island and San Francisco. Central Commercial zoning with a downtown historic overlay supports the building’s mixed-use character. The ground-floor retail space is occupied by Prince Estate Jewelry, with rental income identified through 8/2024. Additional building systems include 400+ Amp Service, fire suppression, a security system, dual-pane full windows, and concrete construction.
Key Highlights
- Approximately 5,900 rsf of renovated office space
- Office layout includes 10 private offices, 1 conference room, 7 workstations, kitchenette, and 3 ADA restrooms
- Nine secure parking spots in the bottom‑floor garage
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
$170,100
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
2.84%
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%
$3,402,000
$3.4M
Cap Rate 7%
$2,430,000
$2.4M
Cap Rate 9%
$1,890,000
$1.9M
Market Conditions
NOI Build-Up for 8,400 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
$302.4K $36.00/SF
− Vacancy
−$30.2K −$3.60/SF
EGI
$272.2K $32.40/SF
− OpEx
−$102.1K −$12.15/SF
NOI
$170.1K $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%
$3,402,000
Cap Rate 7%
$2,430,000
Cap Rate 9%
$1,890,000
Alternative Uses
Best Use
Retail
$38.30M
$33.51M – $44.68M
NOI $2,680,663 @ 7.0% cap · market cap 44.71%
Second Best
Mixed Use
$2.43M
$2.13M – $2.84M
NOI $170,100 @ 7.0% cap · market cap 2.84%
Theoretical Best
Specialty Retail
$41.03M
$35.90M – $47.87M
NOI $2,872,139 @ 7.0% cap · market cap 47.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,157
Businesses Nearby
Explore this area
Business Placement
Demographics for 94965, CA
11,447
Population
6,797
Households
1.7
Avg Household Size
50
Median Age
65%
College-Educated
93%
High-School Grad
14.6 sq mi
ZIP Area
784
Density / Sq Mi
$140,417
Median Household Income
$84,023
Median Earnings
$2,952
Median Rent
$1,492,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated office improvements, ground-floor retail, secure garage parking, and central commercial zoning with a downtown historic overlay.
Where is this mixed-use property located?
The property is located at 599 Bridgeway Sausalito, CA.
What is the asking price?
The asking price for this property is $5,995,000.
What are key features of this property?
This property features: Approximately 5,900 rsf of renovated office space; Office layout includes 10 private offices, 1 conference room, 7 workstations, kitchenette, and 3 ADA restrooms; Nine secure parking spots in the bottom‑floor garage
