Corte Madera Plaza 21 Tamal Vista Blvd 50,428 SF 75% Leased Office Building Corte Madera, CA 94925 For Sale

Newmark’s Bay Area Private Capital Group is pleased to present the rare opportunity to purchase 21 Tamal Vista Boulevard, a ±51,000 square foot office building located in
Corte Madera, CA (the “Property”). 21 Tamal Vista is a two-story, garden style office building located in one of Marin County’s most desirable and supply-constrained submarkets. Positioned on an approximately 2.19 acre freeway facing site, the Property offers investors both stable in-place income with upside and significant long-term redevelopment potential within one of the Bay Area’s most affluent and highly sought-after communities.
Built in 1973, the Property is 50,867 square feet on two floors with 120 surface level parking spaces. The Property is 74% leased to 54 tenants, including 34 tenants in
the healthcare industry. The weighted average lease term is 1.89 years and many of the tenants have been located at the building for 10+ years. The vacant suites
provide investors the immediate opportunity to increase NOI through further leasing. Investors seeking to increase occupancy will benefit from an improving marketplace
and an office market with decreasing supply resulting from residential conversions.
The 2.19 acre site offers excellent future residential development potential. It is zoned MX-1 (Tamal Vista Mixed Use Corridor) which is intended to create residential
and mixed-use development, aligning with broader community planning initiatives focused on housing creation and walkable, transit-oriented design. With its prime
visibility, walkable amenities, and proximity to Highway 101 and Corte Madera Town Center, the site is uniquely positioned for future redevelopment into high-quality
residential or mixed-use housing, subject to entitlements.
The Property enjoys a superb location within walking distance of two of Marin County’s most successful retail destinations, Corte Madera Town Center and The Village at
Corte Madera, including Apple, Nordstrom and Restoration Hardware Headquarters as well as many gyms, restaurants and shops.
21 Tamal Vista represents a compelling investment opportunity for developers, owner/users, and value-add investors to acquire a high-quality office/medical building with future upside for long term residential development in one of Marin County’s most high-barrier to entry markets.