Mixed-Use

859 Diablo Ave

859 Diablo Ave, Novato, CA 94947

Listing Price: $2,695,000

Cap Rate
3.77%
Number of Units
8
Occupancy
100.0%
Price/Unit
$336,875
Price/Gross SF
$498.61
Gross SF
5,405

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 859 Diablo Avenue, Novato, CA. 859 Diablo Avenue is an upscale boutique, mixed-use building located in the Novato’s downtown district. This is a rare opportunity for an investor to own a completely remodel, high-quality mixed-use property, in one of the Bay Area’s strongest rental markets. This property provides investors the opportunity to acquire a quality asset in the coveted market of Novato. Completely remodeled in 2019, the property is situated on a 0.1 acre lot and consists of 5,405 net rentable square feet. The property has benefitted from an extensive remodel, including the reconfiguration into a mixed-use property, including three high-end residential units. There are an additional five commercial units that are designated as live-works units. There is a common area kitchen, bathroom and a conference room. The property is separately metered for the residential units and has solar power supplied commercial units. 859 Diablo Avenue benefits from air-conditioning throughout the property. Lastly, there are seventeen off-street parking spots. The property’s flexible use, upgrades and premier location, make 859 Diablo Avenue the most compelling mixed-use offering in Marin County. Ideally situated at the northern tip of Marin County, Novato is surrounded by pristine open space, teeming wetlands, and rolling coastal hills. Residents and visitors alike need not leave Novato’s city limits to experience some of the North Bay's best food & drink, accommodations, outdoor leisure, and entertainment values. Voted as one of the top 30 cities in the U.S. for healthy lifestyles, Novato has over 2,600 acres of open space with beautiful hiking & scenic cycling trails. You can hit the links on a premiere 18-hole golf courses, stroll Grant Avenues quaint boutiques & eateries in historic Old Town or sip award-winning local vintages by a cozy fire pit. 859 Diablo Avenue is a high-quality asset in Marin County. This investment offers investors a rare opportunity to acquire a mixed-use asset of this size, location and quality. In addition, this investment offers attractive current income, combined with significant upside in rents and income. As such, 859 Diablo Avenue offers a compelling investment opportunity in the desirable Novato market.

Investment Highlights

  • Highly Sought-After Novato Location
  • Significant Value-Add Opportunities, With Strong Rental Upside
  • Compelling Valuation and Attractive Financing Options

Exclusively Listed By

Listing Price: $2,695,000

Cap Rate
3.77%
Number of Units
8
Occupancy
100.0%
Price/Unit
$336,875
Price/Gross SF
$498.61
Gross SF
5,405

Investment Highlights

  • Highly Sought-After Novato Location
  • Significant Value-Add Opportunities, With Strong Rental Upside
  • Compelling Valuation and Attractive Financing Options

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 859 Diablo Avenue, Novato, CA. 859 Diablo Avenue is an upscale boutique, mixed-use building located in the Novato’s downtown district. This is a rare opportunity for an investor to own a completely remodel, high-quality mixed-use property, in one of the Bay Area’s strongest rental markets. This property provides investors the opportunity to acquire a quality asset in the coveted market of Novato. Completely remodeled in 2019, the property is situated on a 0.1 acre lot and consists of 5,405 net rentable square feet. The property has benefitted from an extensive remodel, including the reconfiguration into a mixed-use property, including three high-end residential units. There are an additional five commercial units that are designated as live-works units. There is a common area kitchen, bathroom and a conference room. The property is separately metered for the residential units and has solar power supplied commercial units. 859 Diablo Avenue benefits from air-conditioning throughout the property. Lastly, there are seventeen off-street parking spots. The property’s flexible use, upgrades and premier location, make 859 Diablo Avenue the most compelling mixed-use offering in Marin County. Ideally situated at the northern tip of Marin County, Novato is surrounded by pristine open space, teeming wetlands, and rolling coastal hills. Residents and visitors alike need not leave Novato’s city limits to experience some of the North Bay's best food & drink, accommodations, outdoor leisure, and entertainment values. Voted as one of the top 30 cities in the U.S. for healthy lifestyles, Novato has over 2,600 acres of open space with beautiful hiking & scenic cycling trails. You can hit the links on a premiere 18-hole golf courses, stroll Grant Avenues quaint boutiques & eateries in historic Old Town or sip award-winning local vintages by a cozy fire pit. 859 Diablo Avenue is a high-quality asset in Marin County. This investment offers investors a rare opportunity to acquire a mixed-use asset of this size, location and quality. In addition, this investment offers attractive current income, combined with significant upside in rents and income. As such, 859 Diablo Avenue offers a compelling investment opportunity in the desirable Novato market.

Exclusively Listed By

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