Multi-Suite Office
For Sale
Contact for pricing
890 Lamont Avenue, Novato, CA 94945
Multi-suite office building built in 1985, arranged across two floors with four suites and recent HVAC, roof, and paint upgrades.
Property Size4,665 SF
Price / SF$257.23
Days on Market142
Property Features for 890 Lamont Avenue
General Information
Standard status
Active
Size
4,665 SF
Class
B
Property subtype
Office
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Office Units
4
Building Details
Year Built
1985
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Keegan & Coppin Co., Inc.
Listed By:
Demi Basiliades · License #CA 02080190
Source:
Crexi
Added: Apr 17
Changed: Aug 27
Last Checked: Sep 1 at 6:26AM
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 Co., Inc.
Investment Insights
Based on property information with market context.
890 Lamont Avenue is a multi-suite office property built in 1985 and arranged across two floors. The building totals approximately 4,665 square feet and is configured with four separate suites, creating flexibility for an owner-user or an investor looking to lease multiple spaces. Ownership has maintained the property, and recent upgrades include HVAC, roof, and paint.
The property is located in Novato with convenient access to Highway 101, and it is surrounded by nearby shopping centers, restaurants, and daily services. The building is also within an office association where monthly dues of $414 cover landscaping, insurance, and common area maintenance.
Existing month-to-month tenants would like to remain, and the seller is also willing to lease back a portion of the property to create additional income and flexibility for a new owner.
The property is located in Novato with convenient access to Highway 101, and it is surrounded by nearby shopping centers, restaurants, and daily services. The building is also within an office association where monthly dues of $414 cover landscaping, insurance, and common area maintenance.
Existing month-to-month tenants would like to remain, and the seller is also willing to lease back a portion of the property to create additional income and flexibility for a new owner.
Key Highlights
- Multi‑suite office building built in 1985 totaling approx. 4,665 SF across two floors with four separate suites.
- Recent upgrades include HVAC, roof, and paint, with ownership maintenance noted.
- Flexible setup for owner‑user use: occupy part of the building while collecting income from the remaining space.
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
$94,276
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
7.86%
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%
$1,885,520
$1.9M
Cap Rate 7%
$1,346,800
$1.3M
Cap Rate 9%
$1,047,511
$1.0M
Market Conditions
NOI Build-Up for 4,665 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
$168.5K $36.12/SF
− Vacancy
−$42.8K −$9.17/SF
EGI
$125.7K $26.95/SF
− OpEx
−$31.4K −$6.74/SF
NOI
$94.3K $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 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%
$1,885,520
Cap Rate 7%
$1,346,800
Cap Rate 9%
$1,047,511
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.57M
NOI $94,276 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$22.79M
$19.94M – $26.58M
NOI $1,595,063 @ 7.0% cap · market cap 132.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,998
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Multi-suite office building built in 1985, arranged across two floors with four suites and recent HVAC, roof, and paint upgrades.
Where is this office units located?
The property is located at 890 Lamont Avenue Novato, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Multi‑suite office building built in 1985 totaling approx. 4,665 SF across two floors with four separate suites.; Recent upgrades include HVAC, roof, and paint, with ownership maintenance noted.; Flexible setup for owner‑user use: occupy part of the building while collecting income from the remaining space.
