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Single Tenant Kaiser Medical Office 111 Smith Ranch Rd 27,200 SF Office Building San Rafael, CA 94903 $13,476,611 CAD ($495.46 CAD/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% Leased to Kaiser Permanente (S&P: AA- credit rating) - psychiatry and addiction medicine service. Term through 8/2031 with 2 x 5 year options
- Marin County ranks Top 5 nationally in household income - High barriers to entry for medical office space, strong demographics
- Kaiser extended its lease for an additional five years through August 2031 and have two additional five-year extension options
- Kaiser invested millions into tenant improvements in 2014 and 2019 (specialized interiors + IT infrastructure), demonstrating long term commitment
- ±0.5 miles from Kaiser’s 150,000 SF headquarters campus - 2.5 miles from Kaiser San Rafael Medical Center (116-bed hospital)
- Landlord installed 95.5kW Solar panels and infrastructure in 2023, along with recent roof replacement, resealed parking lot and resealed windows
EXECUTIVE SUMMARY
Kaiser invested millions into tenant improvements in 2014 and 2019 (specialized interiors + IT infrastructure), demonstrating Kaiser’s long term commitment to the Property. To access confidentiality agreement and detail offering memorandum click here: https://properties.nmrk.com/111-smith-ranch-road-san-rafael-sale
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Health Care and Social Assistance
- -
- -
- -
Kaiser Permanente is one of the nation’s largest not-for-profit health plans. At Kaiser Permanente, physicians are responsible for medical decisions. The Permanente Medical Groups, which provide care for Kaiser Permanente members, continuously develop and refine medical practices to help ensure that care is delivered in the most efficient and effective manner possible. Founded in 1945, Kaiser Permanente headquartered in Oakland, California, comprises: Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals and its subsidiaries, and The Permanente Medical Groups.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Health Care and Social Assistance | - | - | - |
PROPERTY TAXES
| Parcel Number | 155-251-74 | Improvements Assessment | $8,517,318 CAD |
| Land Assessment | $1,187,250 CAD | Total Assessment | $9,704,567 CAD |
PROPERTY TAXES
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Single Tenant Kaiser Medical Office | 111 Smith Ranch Rd
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