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    Property profile & analytics

    Novato, CA 94945

    • Specialty properties
    • 4.53 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-4311322
    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

    • Specialty properties

    Property Details

    Lot size
    4.53 lot acres
    Property type
    Specialty properties
    APN
    157-091-29
    APU
    15709129

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Novato
    County
    Marin
    State
    California
    Longitude
    -122.507
    Latitude
    38.1079
    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
    2022
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3.32 Acres

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    • Value Estimation by Request
      0.32 Acres

      878 Sweetser Ave

      SBE - SPECIAL ASSESSMENTS • 0.32 Acres
      878 Sweetser Ave, Novato, CA 94945-2429
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    • Value Estimation by Request
      0.78 Acres

      8127 Binford Rd

      SBE - SPECIAL ASSESSMENTS • 0.78 Acres
      8127 Binford Rd, Novato, CA 94945-1414
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    • Value Estimation by Request

      Novato, CA 94945

      SBE - SPECIAL ASSESSMENTS
      Novato, CA 94945
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    • Value Estimation by Request
      0.72 Acres

      8141 Binford Rd

      SBE - SPECIAL ASSESSMENTS • 0.72 Acres
      8141 Binford Rd, Novato, CA 94945-1414
      View Details
    • Value Estimation by Request
      8.00 Acres

      Airport Rd

      Land • 8.00 Acres
      0 Airport Rd, Novato, CA 94945
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,640 SF

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      Modern Manufacturing Space, Excellent Location
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    • $525,000

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      Well-Maintained Office Building For Sale

      Two-story office building with four suites and medical use permits.
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      Vacant lot near shops and cafes, suitable for house and ADU.
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    Similar Nearby for Lease

    • $71 SF/Yr
      12,889 SF

      Novato Office Space for Lease

      Modern Office Suites, Coworking Available
      7250 Redwood Dr 300, Novato, CA 94945
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    • $33 SF/Yr
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    • $27 SF/Yr
      4,176 SF

      Class A Office Space Novato

      Multi-tenant office park with freeway access and mature landscaping.
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    • $2 SF/Yr

      Novato Office Space with Views

      Premier office environment with views and planned upgrades.
      7200 Redwood Blvd, Novato, CA 94945
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    • $2 SF/Yr
      10,109 SF

      Office Space with Freeway Access

      Office space with excellent freeway access and recent renovations.
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    • $24 SF/Yr
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      Novato Office Space: 744 sq ft

      Two-building office complex, ideal for small business.
      7595 Redwood Blvd, Novato, CA 94945
      View Details
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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.

    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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