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Property profile & analytics
OFF-MARKET
Estimated value
$1,930,000
Commercial real estate
489 Magnolia Ave Larkspur, CA 94939-2034
Individually Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2823272
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
7,315 SF
Lot
0.25 ac (11,000 SF)
APN
020-261-05
UPID
US09-2823272
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Full Body Movement Personal Training | Bronson Nicol Gym & Fitness Center
-
General Greenbrae Emergency Services Department Store Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.28M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.93M
Owner & transaction history
Barrett W Nicol · 9 yrs held
Barrett W Nicol
since 2017
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Larkspur submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Larkspur submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,470,000
6.5%
$2,280,000
7%
$2,115,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,785,000
Current use
INDUSTRIAL (GENERAL)
$2,255,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$1.93M
Range $1.74M – $2.12M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$264 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$65,263
Tax year 2024
Assessed value
$4,849,845
Assessed 2024
Previous assessed
$4,849,845
+0.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$1,592,934
Assessed improvement
$3,256,911
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Heating
NONE
Units
2
Total area
7,315 SF
Lot
0.25 ac (11,000 SF)
APN
020-261-05
UPID
US09-2823272
Jurisdiction
MARIN
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.8M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Units
2
Lot
0.25 ac
Current owner
From public records · entity-resolved
Barrett W Nicol
Individual
Mailing address
484 MAGNOLIA AVE STE 1E, LARKSPUR, CA 94939-2081
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2017
—
Barrett W Nicol
Nicol Barry & V E Trust
Quit Claim Deed
related
—
Mar 31, 2017
$2,900,000
Larkspur Garden LLC
Nicol,barrett W
Grant Deed
related
$2,465,000 · Barrett W Nicol
Nov 28, 2011
—
Nicol Barry & Vera E Trust
Nicol,barrett W
Quit Claim Deed
related
—
Feb 22, 2005
—
Stephen O Nicol
Nicol W D & L N 1987 Trust
Quit Claim Deed
related
—
Aug 21, 2002
—
Nicol,tr
Nicol,wilbur D & Linda
Quit Claim Deed
related
—
—
—
Robert S Nicol
—
Deed Of Trust
related
$550,000 · Westamerica Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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