Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 42 Miller Ave in Mill Valley, California. 42 Miller Ave offers a unique opportunity to acquire a commercial property in Mill Valley’s best location with the benefit of significant development upside potential. The property offers a total of 4,419 square feet of boutique office space, offering wonderful owner/user and investor opportunities. In addition, the location has been designated as one of the City's preferred development sites, offering the owner the ability to create the City's premier residential properties in the future. 42 Miller Ave simply offers the best boutique office building in Southern Marin, with the benefit of offering development opportunities for a premier residential complex in Marin Country’s most desirable bedroom communities. This is a rare opportunity for an investor to purchase Mill Valley’s best boutique owner/user office building, in Mill Valley’s best location. The location offers a serene, private setting, located just steps from Mill Valleys Lytton Square and Mill Valley Depot Café. 42 Miller Ave would offer the owner/user an unmatched location to unmatched a private business of family office. Additionally, the current office configuration, with current cash-flow, allows investors a 3.57% return on pro forma rental income. And finally, the in-fill location would offer developers a rare buildable site in downtown Mill Valley. 42 Miller Ave is in Mill Valley’s downtown district, allowing for easy access to transportation, employment, entertainment, retail, and schooling. The subject property is located on a 24,225 square foot lot. Under current Mill Valley development guidelines, up to a maximum density of twenty residential units on site. The ultimate number of units allowed will depend on design and consultation with the City of Mill Valley. At this time, there are no plans or development proposals filed with the City. 42 Miller Ave offers the owner/user, investors, and developers an exceptional opportunity to acquire a well-located income property with excellent development potential. This property simply offers the best owner/use/development opportunity in Southern Marin.