Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    998 Rush Creek Pl Novato, CA 94945

    • Industrial properties
    • 22,889 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 998 Rush Creek Pl

    Property size
    22,889 SF
    Property type
    Industrial properties
    Property subtype
    Flex space

    Description

    This exceptional Novato industrial property, located at 998 Rush Creek Pl, 94945, offers a unique blend of functionality and convenience. The property encompasses a total of 22,889 square feet, including a 22,000+ square foot fenced storage yard and a 320+ square foot well-appointed office building. The office features ADA access and is sprinklered. The site also includes paved parking and a ventilated storage container with an attached shed, providing additional protected storage space. The property benefits from a flexible CI zoning designation, allowing for diverse uses such as contractor storage, vehicle parking/sales, or outdoor storage (subject to City of Novato Use Permits for most outdoor uses). Its strategic location provides immediate access to Highways 101 and 37, and proximity to the Smart Train. The asking price is $1,375,000, translating to $60.07 per square foot. The property is vacant and offered as a NNN lease. This is a rare opportunity to acquire a versatile industrial property in a prime Marin County location. The efficient layout and existing improvements make this an ideal investment for a variety of businesses. The property is fully fenced and offers many possible layout configurations.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Novato
    County
    Marin
    State
    California
    Longitude
    -122.566
    Latitude
    38.1162

    Comparable in this City

    • Value Estimation by Request
      8.00 Acres

      Airport Rd

      Land • 8.00 Acres
      0 Airport Rd, Novato, CA 94945
      View Details
    • Value Estimation by Request
      4,600 SF

      7552 Redwood Blvd

      INDUSTRIAL (GENERAL) • 4,600 SF
      7552 Redwood Blvd, Novato, CA 94945-2425
      View Details
    • Value Estimation by Request
      22,000 SF

      998 Rush Creek Pl

      Land • 22,000 SF
      998 Rush Creek Pl, Novato, CA 94945
      View Details
    • Value Estimation by Request
      16,123 SF

      320 Deer Is Ln

      INDUSTRIAL (GENERAL) • 16,123 SF
      320 Deer Is Ln, Novato, CA 94945-3424
      View Details
    • Value Estimation
      $1,435,000
      4,800 SF

      7576 Redwood Blvd

      INDUSTRIAL (GENERAL) • 4,800 SF
      7576 Redwood Blvd, Novato, CA 94945-2425
      View Details
    • Value Estimation
      $350,000
      1,280 SF

      701 De Long Ave Ste H

      INDUSTRIAL (GENERAL) • 1,280 SF
      701 De Long Ave Ste H, Novato, CA 94945-3260
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,640 SF

      Novato Industrial Property for Sale/Lease

      Modern Manufacturing Space, Excellent Location
      5400 Hanna Rnch Rd, Novato, CA 94945
      View Details
    • $525,000

      Downtown Novato Retail Opportunity

      Prime retail space in downtown Novato, high visibility location.
      Redwood Blvd, Novato, CA 94945
      View Details
    • $350,000

      Residential Lot Near Grant Avenue

      Vacant lot near shops and cafes, suitable for house and ADU.
      1017 4Th St, Novato, CA 94945
      View Details
    • $1,300,000

      Well-Maintained Office Building For Sale

      Two-story office building with four suites and medical use permits.
      890 Lamont Ave, Novato, CA 94945
      View Details
    • $3,900,000
      10,874 SF

      Downtown Core Retail Property

      Located in the CDR zoning downtown core retail area.
      1320 Grant Ave, Novato, CA 94945
      View Details
    • $295,000

      Residential Lot with Scenic Views

      Residential lot with views of hills and Petaluma River.
      28 Manzanita Ave, Novato, CA 94945
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Novato Industrial Yard - 8 Acres

      Secure Industrial Land For Lease in Marin County
      0 Airport Rd, Novato, CA 94945
      View Details
    • $1.40 SF/Yr

      Office and Warehouse Near Downtown

      Office and warehouse building close to downtown Novato and Highway 101.
      7049 Redwood Blvd, Novato, CA 94945
      View Details
    • $71 SF/Yr
      12,889 SF

      Novato Office Space for Lease

      Modern Office Suites, Coworking Available
      7250 Redwood Dr 300, Novato, CA 94945
      View Details
    • $33 SF/Yr
      14,991 SF

      Remodeled Office Space For Rent

      Newly remodeled office space with outdoor amenities and convenient location.
      100 Wood Hollow Dr, Novato, CA 94945
      View Details
    • $27 SF/Yr
      4,176 SF

      Class A Office Space Novato

      Multi-tenant office park with freeway access and mature landscaping.
      100 Rowland Way, Novato, CA 94945
      View Details
    • $2 SF/Yr

      Novato Office Space with Views

      Premier office environment with views and planned upgrades.
      7200 Redwood Blvd, Novato, CA 94945
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    998 Rush Creek Pl
    Novato, CA 94945
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.