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515 3rd St 28,318 SF Retail Building San Rafael, CA 94901 For Sale
Investment Highlights
- Prime downtown San Rafael location near major amenities.
- $3M in recent building improvements; 107 parking spaces.
- Long-term lease with United Markets through 2029.
- Zoned for high-intensity mixed-use and redevelopment potential.
Executive Summary
515 3rd Street is a high identity, standalone commercial building that has been the home of United Markets since its construction in 1955. Located in the heart of San Rafael
between 3rd Street and 2nd Street, on Grand Avenue, the Property is close to the Montecito Shopping Center. Both Whole Foods and Trader Joe’s are within a short walk, as is
the Transit Center and downtown San Rafael. Nearby are many eateries and amenities. Totaling ±28,318 square feet, the tenant in the building recently did over $3,000,000 of improvements in 2016 to the store. The lot is approximately 80,563 SF. United Markets is on a NNN lease to December 31, 2029, with one option to renew of 10 years. It has been reported the trade area does over $100,000,000 in annual grocery sales, with Trader Joe’s being one of the most successful stores in the chain. The property features 107 on-site parking spaces. It has an unbeatable location, with major signage visible to the patrons of Montecito Shopping Center, as well as great demographics with many high net-worth individuals who reside in the surrounding communities.
between 3rd Street and 2nd Street, on Grand Avenue, the Property is close to the Montecito Shopping Center. Both Whole Foods and Trader Joe’s are within a short walk, as is
the Transit Center and downtown San Rafael. Nearby are many eateries and amenities. Totaling ±28,318 square feet, the tenant in the building recently did over $3,000,000 of improvements in 2016 to the store. The lot is approximately 80,563 SF. United Markets is on a NNN lease to December 31, 2029, with one option to renew of 10 years. It has been reported the trade area does over $100,000,000 in annual grocery sales, with Trader Joe’s being one of the most successful stores in the chain. The property features 107 on-site parking spaces. It has an unbeatable location, with major signage visible to the patrons of Montecito Shopping Center, as well as great demographics with many high net-worth individuals who reside in the surrounding communities.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Supermarket
Building Size
28,318 SF
Building Class
B
Year Built
1955
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
1.85 AC
Zoning
T5N 40/60
Parking
107 Spaces (3.78 Spaces per 1,000 SF Leased)
Frontage
407’ on 3rd St
Amenities
- Pylon Sign
- Signalized Intersection
- Car Charging Station
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 014-126-06 | Improvements Assessment | $1,819,077 CAD |
| Land Assessment | $3,365,790 CAD | Total Assessment | $5,184,867 CAD |
Property Taxes
Parcel Number
014-126-06
Land Assessment
$3,365,790 CAD
Improvements Assessment
$1,819,077 CAD
Total Assessment
$5,184,867 CAD
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515 3rd St
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