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8 Circle Rd 8,192 SF Health Care Building Offered at $4,440,000 at a 6.55% Cap Rate in San Rafael, CA 94903
Investment Highlights
- Lease Through October 31, 2035
- 2% Annual Rent Increases Beginning November 1, 2027
- Tenant Operating at the Property Since 2021
- Current Base Rent of $30,000 per Month
- Personal Guaranty Through October 31, 2030
- One Five-Year Extension Option at Mutually Agreed Fair Market Rent
Executive Summary
Keegan & Coppin is pleased to present the opportunity to acquire 8 Circle Road, a fully leased single-tenant behavioral healthcare investment in San Rafael, California.
The property consists of an approximately 5,910-square-foot residential-style healthcare facility situated on approximately 1.15 acres in the established Los Ranchitos area of Marin County. The property is leased to Heartwood House, LLC through October 31, 2035, with contractual rent increases beginning in November 2027.
The offering combines two distinct sources of value: substantial underlying Marin residential real estate and long-term income from an established behavioral healthcare use. At the current asking price, the property is offered at approximately $751 per building square foot, below the price-per-square foot level of several nearby larger residential sales.
The property consists of an approximately 5,910-square-foot residential-style healthcare facility situated on approximately 1.15 acres in the established Los Ranchitos area of Marin County. The property is leased to Heartwood House, LLC through October 31, 2035, with contractual rent increases beginning in November 2027.
The offering combines two distinct sources of value: substantial underlying Marin residential real estate and long-term income from an established behavioral healthcare use. At the current asking price, the property is offered at approximately $751 per building square foot, below the price-per-square foot level of several nearby larger residential sales.
Property Facts
| Price | $4,440,000 | Building Class | B |
| Price Per Bed | $740,000 | Lot Size | 1.15 AC |
| Sale Type | Investment | Building Size | 5,190 SF |
| Cap Rate | 6.55% | No. Beds | 6 |
| Property Type | Health Care | No. Stories | 1 |
| Property Subtype | Rehabilitation Center | Year Built/Renovated | 1999/2005 |
| Zoning | A2-B4 - Permits agricultural uses, single-family residential, and select accessory or commercial uses, with additional uses allowed subject to a Use Permit. | ||
| Price | $4,440,000 |
| Price Per Bed | $740,000 |
| Sale Type | Investment |
| Cap Rate | 6.55% |
| Property Type | Health Care |
| Property Subtype | Rehabilitation Center |
| Building Class | B |
| Lot Size | 1.15 AC |
| Building Size | 5,190 SF |
| No. Beds | 6 |
| No. Stories | 1 |
| Year Built/Renovated | 1999/2005 |
| Zoning | A2-B4 - Permits agricultural uses, single-family residential, and select accessory or commercial uses, with additional uses allowed subject to a Use Permit. |
Amenities
- Smoke Detector
1 1
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 179-191-05 | Improvements Assessment | $1,091,827 |
| Land Assessment | $1,421,650 | Total Assessment | $2,513,477 |
Property Taxes
Parcel Number
179-191-05
Land Assessment
$1,421,650
Improvements Assessment
$1,091,827
Total Assessment
$2,513,477
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8 Circle Rd
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