Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 802 B Street, a boutique mixed-use property situated in downtown San Rafael, CA. The property offers a gross building area of 10,488 square feet, including two-one bedroom, 1 bath units, 4 studios, 1 bath units and approximately 5,924 square feet of commercial space. The office space will be delivered vacant, offering owner/user opportunities for a new owner, or benefiting from strong leasing demand in the revitalized downtown district. Downtown San Rafael stands to benefit from new business coming to the district, including a new 140-room AC Marriot Hotel and major expansions of the BioMarin campus. San Rafael is the largest city in Marin County offering numerous local employment opportunities, in addition to providing an easy commute to employment in San Francisco. 802 B Street is located on a 4,836 square foot lot and has benefitted from recent upgrades and improvements. The transit-oriented location provides tenants convenient access to the downtown San Rafael SMART Train station and bus depot, as well as quick access to Highway 101. Abundant shopping, dining, and entertainment exists within short walking distance, including all the destinations of downtown. The six residential units, which are fulling leased, provide approximately 14.0% in rental upside achievable through more active management. The 5,924 square feet of office space offers an attractive configuration, that allows for single tenant occupancy or multiple tenants, offering additional upside in rental income. In addition, all units have private storage units, individual water heaters, central air conditioning and off-site covered parking spaces. This is a rare opportunity for an investor to own an excellent, well-located mixed-use building in a desirable downtown location. The property is currently cash flowing and has the potential to generate significant income with the right tenant in the commercial space. The property is located in one of Marin County’s strongest rental markets. With attractive long-term financing options are still available, one of Marin’s best locations, a well-maintained property and significant upside potential, this investment offers a compelling opportunity.