111 Smith Ranch Rd - Medical FOR SALE


San Rafael, CA 94903- Smith Ranch
$9,748,000 USD
925-963-9766
111 Smith Ranch Rd, San Rafael, CA for Sale
$9,748,000 USD
Medical - FOR SALE
1/2
null | 6.25% Cap Rate

111 Smith Ranch Rd
San Rafael, CA 94903
Smith Ranch


HIGHLIGHTS

  • 100% Leased to Kaiser Permanente (S&P: AA- credit rating) - psychiatry and addiction medicine service. Term through 8/2031 with 2 x 5 year options
  • Kaiser invested millions into tenant improvements in 2014 and 2019 (specialized interiors + IT infrastructure), demonstrating long term commitment
  • Marin County ranks Top 5 nationally in household income - High barriers to entry for medical office space, strong demographics
  • ±0.5 miles from Kaiser’s 150,000 SF headquarters campus - 2.5 miles from Kaiser San Rafael Medical Center (116-bed hospital)
  • Kaiser extended its lease for an additional five years through August 2031 and have two additional five-year extension options
  • Landlord installed 95.5kW Solar panels and infrastructure in 2023, along with recent roof replacement, resealed parking lot and resealed windows

OVERVIEW

111 Smith Ranch Road (the “Property”), is a ±27-200-square-foot, medical office building 100% leased to Kaiser Foundation Health plan Inc., (“Kaiser”). Kaiser with an S&P: AA- credit rating is one of the strongest healthcare foundations in the United States has occupied the entire building since 2006. With 19 years occupancy, they recently extended their lease for an additional five years through August 2031 and have two additional five-year extension options. Kaiser invested millions into tenant improvements in 2014 and 2019 (specialized interiors + IT infrastructure), demonstrating Kaiser’s long term commitment to the Property. To access confidentiality agreement and detail offering memorandum click here: https://properties.nmrk.com/111-smith-ranch-road-san-rafael-sale

FOR SALE DETAILS

PRICE

$9,748,000 USD

PRICE/SF

$351 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Single Tenant Kaiser Medical Office

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

A

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

88

LAND DETAILS

LAND ACRES

1.7 AC

LAND SF

74,052 SF

ZONING

PD

APN/PARCEL ID

155-251-74

ASK ABOUT THIS PROPERTY

Mike ZylstraNewmarkMore Info
925-963-9766

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Mike ZylstraNewmarkMore Info
925-963-9766

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