San Rafael Industrial
For Sale
$1,595,000
735 Lincoln, San Rafael, CA 94901
Fully leased industrial property with high visibility and convenient access.
Property Size5,280 SF
Lot Size0.15 Acres
Price / SF$302.08
Days on Market159
Property Features for 735 Lincoln
General Information
Standard status
Active
Size
5,280 SF
Lot size
0.15 Acres
Property subtype
Commercial
Amenities
Concrete Flooring
Flat Roof
Building Details
Year Built
1965
Listing Agency:
HL COMMERCIAL REAL ESTATE
4542030
Listed By:
JOSEPH MORRISON · License #02067309
Source:
Corcoran
Added: Mar 9
Changed: Aug 13
Last Checked: Aug 13 at 7:37AM
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 HL COMMERCIAL REAL ESTATE
Investment Insights
Based on property information with market context.
The property at 735 Lincoln Avenue is a fully leased, single-tenant industrial building situated in San Rafael, California. The building includes high ceilings and a built-out office area with mezzanine storage located above. It also contains two restrooms and two roll-up doors, one drive-in and one dock-high. The property is equipped with 225-amp, 3-phase power. The property is well-suited for automotive or light industrial operations. Fronting Lincoln Avenue, the property offers excellent visibility and convenient access to Highway 101. The building has a property size of 5280 square feet.
Key Highlights
- Fully leased, single‑tenant industrial property providing stable income.
- Excellent visibility with Lincoln Avenue frontage and convenient access to Highway 101.
- High ceilings suitable for various industrial uses.
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
$63,202
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
3.96%
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%
$1,264,040
$1.3M
Cap Rate 7%
$902,886
$902.9K
Cap Rate 9%
$702,244
$702.2K
Market Conditions
NOI Build-Up for 5,280 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
$95.0K $18.00/SF
− Vacancy
−$4.8K −$0.90/SF
EGI
$90.3K $17.10/SF
− OpEx
−$27.1K −$5.13/SF
NOI
$63.2K $11.97/SF
Area
Marin County, CA
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,264,040
Cap Rate 7%
$902,886
Cap Rate 9%
$702,244
Alternative Uses
Best Use
Industrial
$902.9K
$790.0K – $1.05M
NOI $63,202 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$25.79M
$22.57M – $30.09M
NOI $1,805,344 @ 7.0% cap · market cap 113.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,030
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Fully leased industrial property with high visibility and convenient access.
Where is this industrial property located?
The property is located at 735 Lincoln San Rafael, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Fully leased, single‑tenant industrial property providing stable income.; Excellent visibility with Lincoln Avenue frontage and convenient access to Highway 101.; High ceilings suitable for various industrial uses.
