1131 Magnolia Ave Larkspur, CA 94939

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.