San Rafael Office Building For
851 Irwin St, San Rafael, CA 94901
Three-story office building in San Rafael with diversified tenancy.
Property size:
29,923 SFPrice / SF:
$232/SF- Added:
- Mar 6, 2026
- Days on Market:
- 71
- Last Refresh:
- Apr 5 at 11:23 pm
Property Features for 851 Irwin St
General Information
- Standard status
- Active
- Size
- 29,923 SF
Listing agent James Kilpatrick License #CalDRE #01277022 (510) 290-9647
Listing office NAI Northern California (510) 290-9647
Listing date Mar 6, 2026
Source Nainorcal
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 NAI Northern California
HighLights
- Excellent access to Highway 101 and public transit.
- Located in the heart of San Rafael with walkable amenities like Whole Foods and Trader Joe’s.
- 29,923 SF three‑story office building with diversified tenancy.
- 59 on‑site parking spaces (covered and surface).
- Building upgrades under current ownership, reducing near‑term CapEx.
- High visibility along Irwin Street.
Overview
Located in San Rafael, the property at 851 Irwin Street is a 29,923 square-foot, three-story office building featuring diversified tenancy, including professional offices, community organizations, and creative users. The building has undergone upgrades under current ownership, reducing near-term CapEx and providing operational stability. The property has convenient access to U.S. Highway 101, making it easily reachable from various parts of Marin County and the greater Bay Area. It is situated in the heart of San Rafael with excellent access to Highway 101, public transit, and walkable amenities including Whole Foods, Trader Joe’s, and national retailers. The surrounding area is well-serviced by public transportation, with nearby bus stops and transit options. The neighborhood provides a variety of dining, shopping, and service amenities, contributing to a practical and accessible environment for tenants and visitors. The property includes 59 on-site parking spaces (covered and surface) plus high visibility along Irwin Street, just off Highway 101. With market rents trending upward in Marin County and strong tenant demand for well-located small office suites, new ownership can benefit from rollover and renewal opportunities. Additionally, the building is situated near major business hubs and local services, making it a convenient choice for professionals looking to be well-connected within the community.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$6.72M
NOI $604,718 @ 9.00% cap · cautious / downside scenario
Moderate
$8.64M
NOI $604,718 @ 7.00% cap · market / base-case scenario
Aggressive
$12.09M
NOI $604,718 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.08M | $36.12 |
| − Vacancy | −$274.5k | −$9.17 |
| EGI | $806.3k | $26.95 |
| − OpEx | −$201.6k | −$6.74 |
| NOI | $604.7k | $20.21 |
29,923 SF · lease $36.12/SF/yr · vacancy 25.40% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$8.64M
$7.56M – $10.08M
NOI $604,718 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$146.16M
$127.89M – $170.52M
NOI $10,231,310 @ 7.0% cap · market cap 146.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Callahan Financial Planning ...
Financial Advisor
Bungalows of Marin
Real Estate Agency
Howard Foster & Company
Financial Advisor
Jim Land
Real Estate Agency
Berkshire Hathaway HomeServices ...
Real Estate Agency
Location Insight
- Map
- Local Demand
- City
- San Rafael
- County
- Marin
- State
- California
- Longitude
- -122.521
- Latitude
- 37.9709
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Three-story office building in San Rafael with diversified tenancy.
Where is this office building located?
The property is located at 851 Irwin St San Rafael, CA.
What is the asking price?
The asking price for this property is $6,970,000.
What are key features of this property?
This property features: Excellent access to Highway 101 and public transit.; Located in the heart of San Rafael with walkable amenities like Whole Foods and Trader Joe’s.; 29,923 SF three‑story office building with diversified tenancy.
