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Downtown Novato Center 1761-1769 Grant Ave 93,405 SF 98% Leased Retail Building Novato, CA 94945 $24,762,335 ($265.11/SF) 6.25% Cap Rate
Investment Highlights
- Downtown Novato Center, co-anchored by Lucky California Grocer and CVS Pharmacy, is a trusted neighborhood destination
- The property received a new roof in 2018 with a 20-year warranty, LEED lighting, and improved signage and landscaping accents
- Highly affluent Marin County location, average home values in Marin exceed $1.5 million in May 2026 (Zillow)
- Recent leasing momentum at the center includes new 10 year leases from Icon Fit and Kitsch + Sync, as well as a new Dutch Bros ground lease (NAP)
- Both Lucky California and CVS Pharmacy are paying well below current market rents
- Offered at $265/sf, the property is priced significantly below the San Rafael market average of $419/sf (CoStar) and replacement cost
Executive Summary
Property Facts
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- CVS
- Retailer
-
99,999 SF
- -
-
Jan 0000
-
- Retailer
-
99,999 SF
- -
-
Jan 0000
Lucky was originally founded in San Leandro, California in 1935. The Lucky brand changed ownership many times over the years but in 2007 The Save Mart Companies acquired the Northern California division of Albertsons and converted the stores back to Lucky. There are now sixty-nine stores employing close to five thousand people in and around the San Francisco Bay and in 2015 the exciting new brand ‘Lucky California’ was born. Lucky California is a fresh take on the traditional grocery store. It offers a fusion of Bay Area culture, California-sourced foods and a variety of meal solutions – all at competitive prices. Lucky California brings people together around a shared love of food. They employ friendly people who understand your unique food needs and who are passionate about the diverse flavors that Californians love. They are not a specialty store.
- US Bank
- Retailer
-
99,999 SF
- -
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| CVS | Retailer | 99,999 SF | - | Jan 0000 | ||
|
|
Retailer | 99,999 SF | - | Jan 0000 | ||
| US Bank | Retailer | 99,999 SF | - | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1769B
- 1,555 SF
- Retail
- In-Line
- Now
| Space | Size | Space Use | Position | Available |
| 1769B | 1,555 SF | Retail | In-Line | Now |
1769B
| Size |
| 1,555 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Nearby Major Retailers
Property Taxes
| Parcel Number | 141-201-50 | Improvements Assessment | $4,343,670 |
| Land Assessment | $2,783,070 | Total Assessment | $7,126,740 |
Property Taxes
