1099 D St - Medical FOR SALE


San Rafael, CA 94901- Downtown San Rafael
$17,000,000 USD
916-804-0262
1099 D St, San Rafael, CA for Sale
$17,000,000 USD
Medical - FOR SALE
1/9
null | 6.14% Cap Rate

1099 D St
San Rafael, CA 94901
Downtown San Rafael


HIGHLIGHTS

  • 100% Leased, Medical Office Building in Downtown San Rafael
  • Three Story Structure includes abundant parking with underground garage and surface spaces
  • Large Deck on Third Floor offers amazing views of City and San Francisco Bay
  • Strategically Located Between San Francisco and Sonoma Wine Country
  • Median Household Income in San Rafael Exceeds Income in Santa Clara, San Francisco and Orange County

OVERVIEW

Marcus & Millichap is pleased to present The American Building at 1099 D Street, a 100% leased, medical office building and surgery center located in the prosperous city of San Rafael, California. This three-story attractive building, ideally located in the downtown submarket, contains 26,147 square feet of rentable space (with an integrated approximate 24,460 sq. ft. parking structure). The anchor tenant, a multi-specialty surgery center with a consortium of long-established surgeons based in San Francisco, is expanding their operations into Marin County. They are funding the tenant improvements for an 11,000 sq. ft. surgery center at a cost of approximately $10 million which includes complete demolition and rebuild of the space that is currently in for permit. The renovations were designed by a nationally recognized healthcare architecture firm, Boulder Architects. The Property is highly accessible to visitors thanks to abundant on-site structured and secured parking, as well as the neighborhood’s impressive walkability scores of 98. Multiple public transportation are options are present, including ferry service to San Francisco and Oakland. Across D Street from the Property is the $36 million mission critical Public Safety Center (housing police, fire, EMT dispatchers, etc) and San Rafael City Hall. Stable occupancy and strong rent growth highlight The American Building’s appeal to tenants and its status as a compelling legacy MOB asset in supply constricted Marin County. Please contact Listing Agents for Additional Details.

FOR SALE DETAILS

PRICE

$17,000,000 USD

PRICE/SF

$637 USD /SF

CAP RATE

6.14%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The American Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

87

LAND DETAILS

LAND ACRES

0.54 AC

LAND SF

23,522 SF

ZONING

R-O-D, San Rafael

APN/PARCEL ID

011-204-20

ASK ABOUT THIS PROPERTY

Mark HefnerMarcus & MillichapMore Info
916-804-0262

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Mark HefnerMarcus & MillichapMore Info
916-804-0262

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.