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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.
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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