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1905 Novato Blvd 5,000 SF Office Building Novato, CA 94947 $1,300,000 ($260/SF) 6.15% Cap Rate
Investment Highlights
- Owner-User or Investment Opportunity
- ADA Ramps and Restrooms
- Location on Main Novato Thouroughfare
- Redevelopment Possibilities
Executive Summary
Keegan & Coppin Company is pleased to offer for sale an investment development opportunity or an owner-user property on a main thoroughfare in Novato, CA. The former owner user was an adult/child day care facility.
The current zoning has been modified to R-1 (7.5), so any business use similar will fall under a legal non-conforming business and can continue similar operations. Other uses would need to apply for a Conditional Use Permit.
The building is in very good condition, new roof in 2021. The parking was repaved in 2011. There are 2 large meeting rooms, kitchen, and private offices. It has an ADA ramp front and back and ADA restrooms. It is situated on a level one acre lot with immediate access to a major Novato traffic artery. The building was built in 1973 on Novato Blvd. with a large parking area. Investors will appreciate the site’s possibilities, either as an office property or as a site ideal for conversion to residential by redeveloping the property.
The current zoning has been modified to R-1 (7.5), so any business use similar will fall under a legal non-conforming business and can continue similar operations. Other uses would need to apply for a Conditional Use Permit.
The building is in very good condition, new roof in 2021. The parking was repaved in 2011. There are 2 large meeting rooms, kitchen, and private offices. It has an ADA ramp front and back and ADA restrooms. It is situated on a level one acre lot with immediate access to a major Novato traffic artery. The building was built in 1973 on Novato Blvd. with a large parking area. Investors will appreciate the site’s possibilities, either as an office property or as a site ideal for conversion to residential by redeveloping the property.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$130,032
|
$26.01
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$130,032
|
$26.01
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$50,125
|
$10.03
|
| Net Operating Income |
$79,907
|
$15.98
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $130,032 |
| Annual Per SF | $26.01 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $130,032 |
| Annual Per SF | $26.01 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $50,125 |
| Annual Per SF | $10.03 |
| Net Operating Income | |
|---|---|
| Annual | $79,907 |
| Annual Per SF | $15.98 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
5,000 SF
Building Class
C
Year Built
1973
Price
$1,300,000
Price Per SF
$260
Cap Rate
6.15%
NOI
$79,907
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,000 SF
Building FAR
0.11
Lot Size
1.02 AC
Zoning
RI (7.5) - Currently Nonconforming
Existing business Adult/Child Care
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Lifelong Medical Care
- Health Care and Social Assistance
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Lifelong Medical Care | Health Care and Social Assistance | - | - | - |
1 1
Property Taxes
| Parcel Number | 140-011-66 | Improvements Assessment | $863,045 |
| Land Assessment | $768,660 | Total Assessment | $1,631,705 |
Property Taxes
Parcel Number
140-011-66
Land Assessment
$768,660
Improvements Assessment
$863,045
Total Assessment
$1,631,705
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1905 Novato Blvd
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