1131 Magnolia Ave, Larkspur, CA 94939
- Commercial real estate
- 8,171 SF
- 0.34 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1131 Magnolia Ave
- Year built
- 1925
- Lot size
- 0.34 lot acres
- Property type
- Commercial real estate
- APN
- 020-034-06
- APU
- 2003406
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 6, 2023 | — | Douglas Delong | Douglas Delong | Intrafamily Transfer · related | — |
| Dec 21, 2022 | — | Douglas Delong | Douglas Delong | Intrafamily Transfer · related | — |
| May 6, 2022 | — | Douglas Delong | Bank Of Marin NA | Intrafamily Transfer · related | — |
Description
This exceptional mixed-use investment opportunity in Larkspur, CA, presents a compelling value-add proposition. The property, located at 1131 Magnolia Ave, 94939, comprises three buildings situated on a 15,000 square foot lot in the thriving North Magnolia commercial area. The main structure, a 5,000 square foot CMU retail building, houses two established tenants: Balloon Delights and Gloss Beauty. An underutilized storage area offers expansion potential. A separate freestanding commercial building at 1129 Magnolia Ave is available for lease, adding to the income stream. Additionally, a residential duplex (1131) provides further diversification. The property boasts a total of 8,171 square feet, currently operating at 85% occupancy, generating a Net Operating Income (NOI) of $69,708.76, and a current cap rate of 2.32%. A pro-forma cap rate of 4.42% highlights the significant upside potential. The asking price is $3,000,000, translating to $367.15 per square foot. Built in 1925, this property benefits from its strategic location adjacent to the new Magnolia Village development, a key thoroughfare connecting Larkspur to neighboring communities. With five units and a remaining lease term of two years, this property offers a blend of immediate income and long-term growth prospects in a highly desirable Marin County location. The property's mixed-use nature, multiple buildings on a single parcel, and established tenants make it an attractive investment for discerning buyers seeking a value-add opportunity in a prime location.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,760,000
- 6.5%
- $2,545,000
- 7%
- $2,365,000
-
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $3,110,000 Current use
- INDUSTRIAL (GENERAL)
- $2,520,000 Change: -19% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Larkspur
- County
- Marin
- State
- California
- Longitude
- -122.548
- Latitude
- 37.9473
- CBSA code
- 41860
- CBSA name
- SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA
