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1905 Novato Blvd 5,000 SF Office Building Novato, CA 94947 $1,799,850 CAD ($359.97 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 |
$180,029
|
$36.01
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$180,029
|
$36.01
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$69,398
|
$13.88
|
| Net Operating Income |
$110,631
|
$22.13
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $180,029 |
| Annual Per SF | $36.01 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $180,029 |
| Annual Per SF | $36.01 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $69,398 |
| Annual Per SF | $13.88 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $110,631 |
| Annual Per SF | $22.13 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
5,000 SF
Building Class
C
Year Built
1973
Price
$1,799,850 CAD
Price Per SF
$359.97 CAD
Cap Rate
6.15%
NOI
$110,631 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 | $1,216,125 CAD |
| Land Assessment | $1,083,126 CAD | Total Assessment | $2,299,252 CAD |
PROPERTY TAXES
Parcel Number
140-011-66
Land Assessment
$1,083,126 CAD
Improvements Assessment
$1,216,125 CAD
Total Assessment
$2,299,252 CAD
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1905 Novato Blvd
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