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    Property profile & analytics

    1 Commercial Blvd Novato, CA 94949

    • Commercial real estate
    • 6,287 SF
    • 0.26 lot acres
    For Lease
    View listing
    $1.95 SF/Yr
    Last Sale
    May 28, 2020
    $745,163
    Value Estimations
    $665,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3391998
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Black Cat Studio Gallery / Print Shop
    • Joseph Farrell Architecture / Architect
    • Black Cat Studio / Print Shop / Photo Lab

    Property Details for 1 Commercial Blvd

    Year built
    1979
    Lot size
    0.26 lot acres
    Property size
    6,287 SF
    Property type
    Commercial real estate
    APN
    157-421-13
    APU
    15742113

    Description

    Located at 1 Commercial Blvd in Novato, CA 94949, Bel Marin Keys Business Park offers exceptional executive office space within a 11,627 square foot building. Currently, 7,692 square feet are available, divisible into units ranging from 2,158 to 5,534 contiguous square feet, perfect for businesses seeking flexible and efficient layouts. The space features a desirable blend of open areas and private offices, enhanced by abundant natural light from expansive windows offering scenic hill views. Recent upgrades include a new fire sprinkler system, ensuring a safe and secure environment. The property's PD/LI-O Overlay zoning provides versatility for various business types. Furthermore, the potential for lab space build-outs exists, offering an adaptable solution for specific business needs. Ample on-site parking is provided for the convenience of employees and clients. This Marin County location offers a desirable business address with easy access to local amenities and transportation. The property is zoned PD/LI-O Overlay.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $660,000
      ML approach
      $520,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $730,000
      Market price range: $221k - $1.37M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Novato
    County
    Marin
    State
    California
    Longitude
    -122.535
    Latitude
    38.0687
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $19,942
    $293,788
    $1,161,491
    $1,455,279
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $350,000
      8,464 SF

      20 Galli Dr

      COMMERCIAL (GENERAL) • 8,464 SF
      20 Galli Dr, Novato, CA 94949-5735
      View Details
    • Value Estimation
      $1,135,000
      57,289 SF

      4 Hamilton Lndg

      COMMERCIAL (GENERAL) • 57,289 SF
      4 Hamilton Lndg, Novato, CA 94949-8256
      View Details
    • Value Estimation
      $325,000
      1,269 SF

      5404 Nave Dr

      COMMERCIAL (GENERAL) • 1,269 SF
      5404 Nave Dr, Novato, CA 94949-6457
      View Details
    • Value Estimation
      $1,060,000
      82,386 SF

      300 Bel Marin Kys Blvd

      COMMERCIAL (GENERAL) • 82,386 SF
      300 Bel Marin Kys Blvd, Novato, CA 94949-5634
      View Details
    • Value Estimation
      $535,000
      19,689 SF

      500 Alameda Del Prado

      COMMERCIAL (GENERAL) • 19,689 SF
      500 Alameda Del Prado, Novato, CA 94949-6000
      View Details
    • Value Estimation
      $310,000
      3,984 SF

      250 Bel Marin Kys Blvdc

      COMMERCIAL (GENERAL) • 3,984 SF
      250 Bel Marin Kys Blvdc, Novato, CA 94949-5727
      View Details

    Similar Nearby for Sale

    • $1,800,000
      9,440 SF

      Novato Industrial/Manufacturing/Distribution Center

      Established light industrial, manufacturing, and distribution center in Novato, CA.
      4 Commercial Blvd, Novato, CA 94949
      View Details
    • $3,133,995
      19,682 SF

      Class A Office Building For Sale

      Well-maintained Class A office building with plentiful natural light.
      350 Ignacio Blvd, Novato, CA 94949
      View Details
    • $9,000,000
      31,541 SF

      Industrial Warehouse with Highway Access

      31,541 SF warehouse with convenient highway access.
      265 Bel Marin Keys Blvd, Novato, CA 94949
      View Details
    • $2,000,000
      8,170 SF

      Novato Office Building For Sale

      Well-maintained, fully leased office building in Novato's Galli Square.
      330 Ignacio Blvd, Novato, CA 94949
      View Details
    • $6,525,000

      Novato Multifamily Investment Opportunity

      16-unit apartment building in Novato's Pacheco Villas.
      Clay Ct, Novato, CA 94949
      View Details
    • $3,000,000
      10,180 SF

      Office/Warehouse Condos in Business Park

      Three connected office/warehouse condos with flexible layout and convenient highway access.
      285 Bel Marin Ky #O, Novato, CA 94949
      View Details

    Similar Nearby for Lease

    • $1.95 SF/Yr
      11,627 SF

      Prime Novato Executive Office Space

      11,627 SF Office Building, Suites Available
      1 Commercial Blvd, Novato, CA 94949
      View Details
    • $1.45 SF/Yr
      3,681 SF

      Marin Flex Space For Rent

      Flex space with excellent glass line and on-site parking.
      8 Digital Dr, Novato, CA 94949
      View Details
    • Contact for pricing
      5,995 SF

      Unique Office Space with Amenities

      Adaptable office space with modern amenities and convenient transportation access.
      3 Hamilton Lndg, Novato, CA 94949
      View Details
    • $7,678 /Mo
      3,490 SF

      Restaurant and Retail Space Available

      Restaurant and retail property available for rent in Novato.
      467 Entrada Dr, Novato, CA 94949
      View Details
    • Contact for pricing
      6,203 SF

      Novato Office Space Available

      6,203 square foot office space for rent in Novato.
      250 Entrada Dr, Novato, CA 94949
      View Details
    • $12 SF/Yr
      23,901 SF

      Novato Office/Industrial Building For Lease

      Office and warehouse space available in Bel Marin Keys.
      15 Leveroni Ct, Novato, CA 94949
      View Details
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    1 Commercial Blvd
    Novato, CA 94949
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    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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