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    30 Smith Ranch Rd San Rafael, CA 94903

    Sponsored
    For Sale
    $5,700,000

    San Rafael, CA: Prime Retail Investment

    Property size:
    8,589 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a single-tenant, 8,589 square foot Bank of America branch located on a 1.45-acre lot in San Rafael, California. The property boasts a highly desirable location at the corner of Smith Ranch Road and Redwood Highway, providing immediate access to Highway 101, a major commuter artery with over 173,700 vehicles per day. The building, constructed in 1982 and renovated in 2018, features a drive-thru and is situated within a thriving commercial corridor. The property benefits from a strong demographic profile, with an average household income exceeding $173,189 within a three-mile radius and a population of 52,030. The Net Lease (NNN) structure offers a passive income stream, with a current NOI of $312,814 and a 5.50% cap rate. The lease with Bank of America, a credit-rated tenant, has a remaining term of five years, with two ten-year renewal options and a 10% rent bump scheduled for December 1, 2024. The property is zoned PD and includes a ground lease. Nearby amenities include the Northgate Mall, featuring major retailers like Macy's and Kohl's, and various other national and local businesses. This investment offers a compelling combination of strong tenant credit, a prime location, and significant upside potential. The asking price is $5,700,000, translating to $663.64 per square foot.

    Property Features for 30 Smith Ranch Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,589 SF
    Lot Size
    63,162 SF

    Building Details

    Year Built/Renovated
    1982/2018
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Corporate lease to Bank of America National Association.
    • NNN ground lease with over 5 years remaining, including a 10% rent increase in December 2024.
    • Two ten‑year renewal options.
    • High‑traffic location on Smith Ranch Road, adjacent to Highway 101 on/off ramp, in the North San Rafael business park.
    • Excellent demographics: $173,189 average household income within one mile, 52,030 population within three miles.
    • Highway 101 boasts over 173,000 vehicles per day.
    Property Profile Location Intelligence

    Current Use by Public Records

    Merrill Investment & Retirement ... Investment Service Bank of America Home ... Mortgage Lender Bank of America ATM ... Atm Bank of America (with ... Bank

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Rafael
    County
    Marin
    State
    California
    Longitude
    -122.535838
    Latitude
    38.0195084

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    FAQs

    What type of property is this?
    Individual retail property - San Rafael, CA: Prime Retail Investment
    Where is this individual retail property located?
    The property is located at 30 Smith Ranch Rd San Rafael, CA.
    What is the asking price?
    The asking price for this property is $5,700,000.
    What are key features of this property?
    This property features: Corporate lease to Bank of America National Association.; NNN ground lease with over 5 years remaining, including a 10% rent increase in December 2024.; Two ten-year renewal options.
    Request Owner's contact information
    30 Smith Ranch Rd San Rafael, CA 94903
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    San Rafael, CA 94903
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    Realmo Value Estimation

    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.

    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
    30 Smith Ranch Rd San Rafael, CA 94903
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