Two-Story Multi-Tenant Office
For Sale
$3,500,000
690 De Long, Novato, CA 94945
Six leased suites, solar canopies, and on-site parking serve a two-level office property.
Property Size9,915 SF
Lot Size3.80 Acres
Price / SF$353
Days on Market8
Property Features for 690 De Long
General Information
Standard status
Active
Size
9,915 SF
Total Parking Spaces
37
Elevators
Yes
Lot size
3.80 Acres
Property subtype
Commercial
Zoning
BPO
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Sprinkler System
Yes
Office Units
6
Tenant in Place
Yes
Property Use
Office
Amenities
solar power system
exterior decks and patios
garden setting
Monument Signage
Central air
Dead End
Flat Roof
Multi Units Cooling
Multi Zone Cooling
Tile Roof
Building Details
Year Built
2007
Buildings
1
Stories
2
Building Size
9,915 SF
Construction
wood frame
Tenancy
Multi
Listing Agency:
KEEGAN & COPPIN COMPANY, INC
5281400
Listed By:
RHONDA DERINGER · License #01206401
(707) 528-1400
Source:
Corcoran
Added: Oct 22
Changed: Oct 27
Last Checked: Oct 28 at 8:58AM
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 KEEGAN & COPPIN COMPANY, INC
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Investment Insights
Based on property information with market context.
This two-story, 9,915+/- square foot office building contains six leased suites, each with private restrooms. Built in 2007 with wood-frame construction and a stucco exterior, the property includes an elevator to the lower level, a fire sprinkler system, and rooftop HVAC units. Electrical service totals 775 amps across two meters. A solar power system was installed in 2017, with solar canopies above some parking spaces. The building also has exterior decks and patios overlooking a garden setting.
The property occupies 3.8+/- acres, or 165,528+/- square feet, and provides 37 on-site parking spaces. Zoned BPO (Business and Professional Office) District, the site includes surplus land described as having potential for commercial or residential development. The property is just off Highway 101, across the highway from downtown Novato and the Whole Foods Center.
The property occupies 3.8+/- acres, or 165,528+/- square feet, and provides 37 on-site parking spaces. Zoned BPO (Business and Professional Office) District, the site includes surplus land described as having potential for commercial or residential development. The property is just off Highway 101, across the highway from downtown Novato and the Whole Foods Center.
Key Highlights
- 9,915+/- square foot, two‑story office building with six leased suites
- 3.8+/- acres / 165,528+/- square foot site, including surplus land
- BPO (Business and Professional Office) District zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$200,374
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,007,480
$4.0M
Cap Rate 7%
$2,862,486
$2.9M
Cap Rate 9%
$2,226,378
$2.2M
Market Conditions
NOI Build-Up for 9,915 SF
Gross rent
$358.1K $36.12/SF
− Vacancy
−$91.0K −$9.17/SF
EGI
$267.2K $26.95/SF
− OpEx
−$66.8K −$6.74/SF
NOI
$200.4K $20.21/SF
Area
Marin County, CA
Vacancy
25.40%
Lease Rate
$36.12 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,007,480
Cap Rate 7%
$2,862,486
Cap Rate 9%
$2,226,378
Alternative Uses
Best Use
Office B
$2.86M
$2.50M – $3.34M
NOI $200,374 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$48.43M
$42.38M – $56.50M
NOI $3,390,149 @ 7.0% cap · market cap 96.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
6
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,534
Businesses Nearby
Explore this area
Business Placement
Demographics for 94945, CA
17,876
Population
7,355
Households
2.4
Avg Household Size
47
Median Age
52%
College-Educated
92%
High-School Grad
23.3 sq mi
ZIP Area
767
Density / Sq Mi
$109,750
Median Household Income
$65,060
Median Earnings
$2,168
Median Rent
$1,094,300
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Six leased suites, solar canopies, and on-site parking serve a two-level office property.
Where is this office building located?
The property is located at 690 De Long Novato, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 9,915+/- square foot, two‑story office building with six leased suites; 3.8+/- acres / 165,528+/- square foot site, including surplus land; BPO (Business and Professional Office) District zoning
