Building Details

Year Built 1901

Listing Agency: LEE & ASSOCIATES Show Phone

Listed By: TYLER CLARK · License #01900784 Show Phone

Source: Corcoran

Added: Aug 28, 2025 Changed: Oct 28 Last Checked: Oct 28 at 8:14AM

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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 LEE & ASSOCIATES

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Investment Insights

Based on property information with market context.

This historically significant property, originally constructed in 1901, is located in Corte Madera. The multi-building campus has a total area of approximately 10,464 square feet and is situated on a 19,920 square foot lot, which is equivalent to 0.46 acres. Currently configured for religious and community use, the property's flexible R-2 Low Density Multiple-Dwelling zoning allows for a range of future possibilities. The property includes a sanctuary featuring vaulted timber ceilings and a pipe organ, a fellowship hall with a fireplace, a full kitchen, a nursery or bonus room, multiple offices, and additional meeting spaces. Furthermore, there is a separate apartment with four bedrooms and two bathrooms, as well as a former retail storefront that was previously used as a thrift shop, providing additional utility and potential income streams.

Key Highlights

• Large ±10,464 SF multi‑building campus on a ±19,920 SF lot in the heart of Corte Madera.
• Flexible R‑2 Low Density Multiple‑Dwelling zoning offers a range of future possibilities.
• Historically significant property originally constructed in 1901.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$151,582

Cap Rate

3.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,031,640 $3.0M

Cap Rate 7%

$2,165,457 $2.2M

Cap Rate 9%

$1,684,244 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,464 SF

Gross rent

$292.6K $27.96/SF

− Vacancy

−$17.0K −$1.62/SF

EGI

$275.6K $26.34/SF

− OpEx

−$124.0K −$11.85/SF

NOI

$151.6K $14.49/SF

Area

Marin County, CA

Vacancy

5.80%

Lease Rate

$27.96 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,031,640

Cap Rate 7%

$2,165,457

Cap Rate 9%

$1,684,244

Alternative Uses

Best Use

Retail

$47.70M

$41.74M – $55.66M (±1% cap)

NOI $3,339,340 @ 7.0% cap · market cap 74.21%

Second Best

Apartment 5plus

$2.17M

$1.89M – $2.53M (±1% cap)

NOI $151,582 @ 7.0% cap · market cap 3.37%

Theoretical Best

Specialty Retail

$51.11M

$44.72M – $59.63M (±1% cap)

NOI $3,577,864 @ 7.0% cap · market cap 79.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Churches & religious facilities

Location Intelligence

Trade Area within ½ mile

1,010

Businesses Nearby

Explore this area Business Placement

Demographics for 94925, CA

10,204

Population

4,147

Households

2.5

Avg Household Size

44

Median Age

77%

College-Educated

99%

High-School Grad

3.2 sq mi

ZIP Area

3,189

Density / Sq Mi

$220,771

Median Household Income

$120,154

Median Earnings

$3,468

Median Rent

$1,702,000

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Frequently Asked Questions

What type of property is this?

Church & religious facility - Historically significant property with flexible zoning and income potential.

Where is this church & religious facility located?

The property is located at Tamalpais Dr Corte Madera, CA.

What is the asking price?

The asking price for this property is $4,500,000.

What are key features of this property?

This property features: Large ±10,464 SF multi‑building campus on a ±19,920 SF lot in the heart of Corte Madera.; Flexible R‑2 Low Density Multiple‑Dwelling zoning offers a range of future possibilities.; Historically significant property originally constructed in 1901.