175-185 Market St 15 500 pi² 100% Loué Industriel Immeuble San Rafael, CA 94901 4 807 219 $ CAD (310,14 $ CAD/pi²) 5,50% Taux de capitalisation

The property includes two connected Butler metal warehouses totaling about 15,500 SF on a 0.46-acre parcel. Built in 1959, the buildings were recently improved with a new TPO roof, LED lighting, skylights, insulation, and upgraded bathrooms. The clear-span bays reach 21' at the center, with multiple grade-level doors and 400-amp, 3-phase power. Parking is available along the frontage.
175–185 Market is now a true “sleep-at-night” industrial hold: fully leased cash flow from day one, with upside you can actually point to. You’re buying in-place income at a reset basis, with staggered lease expirations (one shorter-term rollover, the rest longer-dated) that create a defined rent-reset opportunity—without underwriting a lease-up.
The tenant mix is service/auto oriented—uses that need industrial zoning, can’t be done remotely, and tend to stay put. The location is pure infill/last-mile (quick access to US-101), which supports liquidity and re-tenanting.
Add in recent major capex, and you’re inheriting a cleaner capital stack with less “surprise” spending. It’s also the most liquid part of the industrial market—small bay space—driving steady demand from local operators and 1031 buyers.
Bottom line: a simple, durable Marin industrial story—cash flow today, controlled rollover risk, and a clear path to future rent growth.