Historic Multi-Building Campus in Corte
Tamalpais Dr Corte Madera, CA 94925
For Sale
$4,500,000
Historically significant property with flexible zoning and income potential.
Property Size10,464 SF
Lot Size0.46 Acres
Price / SF$430.05
Days on Market336
Property Features for Tamalpais Dr
General Information
Standard status
Active
Size
10,464 SF
Lot size
0.46 Acres
Property subtype
Commercial
Building Details
Year Built
1901
Listing Agency:
LEE & ASSOCIATES
(925) 239-1412
Listed By:
TYLER CLARK · License #01900784
Source:
Corcoran
Added: Aug 28, 2025
Changed: Jul 10
Last Checked: Jul 29 at 10:36AM
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
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 For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $292.6k | $27.96 |
| − Vacancy | −$17.0k | −$1.62 |
| EGI | $275.6k | $26.34 |
| − OpEx | −$124.0k | −$11.85 |
| NOI | $151.6k | $14.49 |
10,464 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Retail
$47.70M
$41.74M – $55.66M
NOI $3,339,340 @ 7.0% cap · market cap 74.21%
Second Best
Apartment 5plus
$2.17M
$1.89M – $2.53M
NOI $151,582 @ 7.0% cap · market cap 3.37%
Theoretical Best
Specialty Retail
$51.11M
$44.72M – $59.63M
NOI $3,577,864 @ 7.0% cap · market cap 79.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
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.
