88 Rowland Way - Medical FOR SALE


Novato, CA 94945
$12,250,000 USD
415-526-7649
88 Rowland Way, Novato, CA for Sale
$12,250,000 USD
Medical - FOR SALE
1/10
null | Request Cap Rate

88 Rowland Way
Novato, CA 94945


HIGHLIGHTS

  • Secure Cash Flow – Long-Term Tenancies
  • Hospital Campus Adjacency / Conversion to Medical Uses
  • Superb Marin County Location Adjacent to Rich Amenity BaseSuperb Marin County Location Adjacent to Rich Amenity Base
  • Future Upside through Lease-Up of Vacant Spaces | Owner-User Potential
  • Recovering Market Fundamentals

OVERVIEW

Access Data Room: https://platform.reverecre.com/project/393462b8-3c6d-401a-bf64-4e1e5fdcc868 Newmark’s Bay Area Private Capital Group is pleased to present the opportunity to acquire the fee-simple interest in 88 Rowland Way, a +/-65,000 square foot office / medical offering located in Novato in highly desirable Marin County California (the “Property”). Currently 55% leased with a weighted average lease term of 4.2 years, the Property offers a stable in-place income base with significant income upside through the lease-up of remaining vacancies at a historically attractive basis. Built in 1995, the Property is a three-story modern office building with 235 surface parking stalls (3.65/1,000 SF) providing ample parking. Positioned adjacent to Highway 101, 88 Rowland Way is next to the Sutter Health Novato Community Hospital Campus, a 47-bed short-term acute care facility and 170,000+ square foot medical office campus with orthopedic and surgery centers and adjacent medical office buildings. It is also across Rowland Way from MarinHealth/UCSF’s largest off campus facility, positioning the asset for future medical tenancies. The project also benefits from adjacency to the expansive Vintage Oaks Shopping Center, featuring a wide variety of dining and shopping options, outstanding nearby amenities that will help attract and retain tenants at the building.

FOR SALE DETAILS

PRICE

$12,250,000 USD

PRICE/SF

$190 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rowland Plaza

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

259

LAND DETAILS

LAND ACRES

3.16 AC

LAND SF

137,650 SF

ZONING

PD

APN/PARCEL ID

153-320-04,153-320-11

ASK ABOUT THIS PROPERTY

Haden OngaroNewmarkMore Info
415-526-7649

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Haden OngaroNewmarkMore Info
415-526-7649

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