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Solano and Irwin 2 Office Properties Offered at $11,977,000 in Multiple Locations
Investment Highlights
- Invest in a 100% occupied two-property portfolio and tap into 34% rent growth upside potential and recent capital improvements
- Positioned for growth, both assets have newly modernized turnkey suites and common areas, recent capital improvements, and stabilized occupancy
- 851 Irwin Street is a 29,923 SF three-story office building with professional offices, community organizations, and creative users as tenants, ideally
- The Solano Professional Building is an 18,819 SF three-story mixed-use asset with 19 office suites and diversified professional tenancy
- Spread across walkable and vibrant Bay Area urban neighborhoods with easy connections to transit, commuting routes, and amenities — including a Walker
Executive Summary
NAI NorCal is pleased to exclusively offer the opportunity to acquire a two-property office portfolio strategically located across the San Francisco Bay Area's most dynamic submarkets. This fully stabilized, 100% occupied portfolio totaling ±48,742 square feet and 59 units represents a rare opportunity to acquire institutional-quality assets in Berkeley and San Rafael — two of the region's most sought-after office markets.
The portfolio has been substantially upgraded under current ownership with comprehensive capital improvement programs completed across both properties, including HVAC modernization, interior renovations, security enhancements, and building system upgrades. These recent investments have positioned the portfolio for continued strong performance with minimal near-term capital requirements while creating significant rent growth upside as leases roll in each market.
Each property benefits from exceptional location fundamentals: the Solano Avenue asset sits in Berkeley Hills' historic main thoroughfare with a Walker's Paradise Score of 94/100; and the Irwin Street building provides unmatched regional connectivity adjacent to Highway 101 and the San Rafael Transit Center.
With current in-place rents averaging $3.21/SF/month — well below the market rate of $4.30/SF/month — diversified professional tenancy across 59 units, and 100% occupancy, this turnkey investment opportunity offers investors immediate cash flow stability combined with substantial 34% rent growth upside through strategic lease management and operational efficiency.
The portfolio has been substantially upgraded under current ownership with comprehensive capital improvement programs completed across both properties, including HVAC modernization, interior renovations, security enhancements, and building system upgrades. These recent investments have positioned the portfolio for continued strong performance with minimal near-term capital requirements while creating significant rent growth upside as leases roll in each market.
Each property benefits from exceptional location fundamentals: the Solano Avenue asset sits in Berkeley Hills' historic main thoroughfare with a Walker's Paradise Score of 94/100; and the Irwin Street building provides unmatched regional connectivity adjacent to Highway 101 and the San Rafael Transit Center.
With current in-place rents averaging $3.21/SF/month — well below the market rate of $4.30/SF/month — diversified professional tenancy across 59 units, and 100% occupancy, this turnkey investment opportunity offers investors immediate cash flow stability combined with substantial 34% rent growth upside through strategic lease management and operational efficiency.
Sale Flyer
Property Facts
| Price | $11,977,000 | Number of Properties | 2 |
| Price / SF | $270.87 / SF | Individually For Sale | 2 |
| Cap Rate | 7.84% | Total Building Size | 44,217 SF |
| Sale Type | Investment | Total Land Area | 0.90 AC |
| Status | Active |
| Price | $11,977,000 |
| Price / SF | $270.87 / SF |
| Cap Rate | 7.84% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 2 |
| Total Building Size | 44,217 SF |
| Total Land Area | 0.90 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Solano Professional Building
1758-1760 Solano Ave, Berkeley, CA 94707 |
Office | 16,486 SF | 1966 | $5,497,000 |
| 851 Irwin St, San Rafael, CA 94901 | Office | 27,731 SF | 1982 | $6,480,000 |
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Sale Advisors
Sale Advisors
James Kilpatrick, President, Chief Operating Officer
James Kilpatrick is the President of NAI Northern California. His career began in 1998 with a major national firm specializing in investment property brokerage where he received numerous achievement awards. He has been involved in investment transactions exceeding $1 Billion across most product categories and oversees the day to day operations, strategic expansion of the firm and large account management.
Mr. Kilpatrick is a San Francisco Bay Area native with ownership, management, syndication and debt structuring experience across most product types. He has had various positions from board of directors appointments to President of various real estate organizations. He has also been a regular contributing writer for newsletters and trade journals of organizations such as the Berkeley Property Owners Association (BPOA) and RHA (Rental Housing Association of northern Alameda county). He is a member of the Rental Housing Owners Group (RHO), the Investment Marketing Forum (IMF) and Investment Property Marketing Group (IPMG). In addition to the above, Mr. Kilpatrick has experience in distressed asset sales, expert witness work, portfolio valuations, condominium and subdivision work, bankruptcy and trustee’s sales, sale leasebacks and other more complicated transactions.
Mr. Kilpatrick is a San Francisco Bay Area native with ownership, management, syndication and debt structuring experience across most product types. He has had various positions from board of directors appointments to President of various real estate organizations. He has also been a regular contributing writer for newsletters and trade journals of organizations such as the Berkeley Property Owners Association (BPOA) and RHA (Rental Housing Association of northern Alameda county). He is a member of the Rental Housing Owners Group (RHO), the Investment Marketing Forum (IMF) and Investment Property Marketing Group (IPMG). In addition to the above, Mr. Kilpatrick has experience in distressed asset sales, expert witness work, portfolio valuations, condominium and subdivision work, bankruptcy and trustee’s sales, sale leasebacks and other more complicated transactions.
Seth Hubbert, Investment Advisor
Seth is an Investment Advisor at NAI Northern California, specializing in transacting multifamily assets in the Bay Area. Seth has a strong leadership, analytical, and service background, providing the highest-level value to clients.
Seth has grown and led several successful businesses, including Five Iron Financial, a real estate investment firm renovating distressed property and operating housing in high-growth regions in the United States. He also previously served as the CEO of Tech Exchange, providing 45,000 computers to students and families during the height of the pandemic.
Holding degrees in Physics and Education, Seth masterfully blends quantitative analysis with client guidance and support. When not immersed in real estate, you’ll find Seth coaching youth sports, serving on community boards, and volunteering at his children’s school.
Seth has grown and led several successful businesses, including Five Iron Financial, a real estate investment firm renovating distressed property and operating housing in high-growth regions in the United States. He also previously served as the CEO of Tech Exchange, providing 45,000 computers to students and families during the height of the pandemic.
Holding degrees in Physics and Education, Seth masterfully blends quantitative analysis with client guidance and support. When not immersed in real estate, you’ll find Seth coaching youth sports, serving on community boards, and volunteering at his children’s school.
Damon Gerstein, Investment Advisor
Damon Gerstein specializes in office, multifamily, and industrial real estate across the Bay Area. Born and raised in Marin County, CA, Damon has spent his life immersed in the region’s unique communities and dynamic market. His local knowledge, combined with his academic background, provides clients with both insight and strategy in navigating complex transactions. Damon earned his Bachelor of Science in Urban and Regional Development with a minor in Real Estate Development from the University of Arizona. This foundation equips him with a deep understanding of market analysis, urban planning, and investment strategy—tools he leverages to deliver value to his clients. At NAI NorCal, Damon is committed to learning from industry leaders while actively contributing to the team’s success. Outside of real estate, he is passionate about traveling and sports, enjoying everything from working out and snowboarding to hiking and exploring the outdoors.
Tim Marshall, Investment Advisory
Investment Advisor with a background in property management, operations, and client service. As founder of Marpensio LLC, Tim oversaw all aspects of property management including asset performance, tenant relations, leasing, and vendor coordination. Previous roles in operations and customer experience strengthened his leadership, process improvement, and client service skills.
Tim now applies this combined expertise to advising clients on commercial real estate investments. By leveraging market research and data-driven insights, he helps clients evaluate opportunities, maximize asset performance, and achieve long-term investment success with a client-first approach.
Tim now applies this combined expertise to advising clients on commercial real estate investments. By leveraging market research and data-driven insights, he helps clients evaluate opportunities, maximize asset performance, and achieve long-term investment success with a client-first approach.
Contacts
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James Kilpatrick -
Seth Hubbert -
Damon Gerstein -
Tim Marshall -
NAI Northern California
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