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1905 Novato Blvd 5,000 SF Office Building Novato, CA 94947 $1,781,234 CAD ($356.25 CAD/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 (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$178,167
|
$35.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$178,167
|
$35.63
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$68,680
|
$13.74
|
| Net Operating Income |
$109,487
|
$21.90
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $178,167 |
| Annual Per SF | $35.63 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $178,167 |
| Annual Per SF | $35.63 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $68,680 |
| Annual Per SF | $13.74 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $109,487 |
| Annual Per SF | $21.90 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
5,000 SF
Building Class
C
Year Built
1973
Price
$1,781,234 CAD
Price Per SF
$356.25 CAD
Cap Rate
6.15%
NOI
$109,487 CAD
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 | $1,182,527 CAD |
| Land Assessment | $1,053,203 CAD | Total Assessment | $2,235,730 CAD |
PROPERTY TAXES
Parcel Number
140-011-66
Land Assessment
$1,053,203 CAD
Improvements Assessment
$1,182,527 CAD
Total Assessment
$2,235,730 CAD
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1905 Novato Blvd
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