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100% leased investment with upside opportunity - two-story, retail / mixed use /residential use building with three private parking stalls.
Marcus & Millichap has been selected to exclusively market for sale the Mi Pueblo Food Center, a freestanding 35,931 - square-foot single tenant NNN leased grocery store that was renovated for the tenant in 2009. This high quality single tenant grocery store is located in San Rafael, California, seventeen miles north of San Francisco. The asset provides an opportunity for an investor to procure a long-term NNN leased single tenant corporate guaranteed asset with annual rent increases. Conveniently located directly south of a densely populated Multi-Family neighborhood and the two major freeways in and out of San Rafael, the Mi Pueblo Food Center is the premiere grocer in the area.
Price Upon Req.33,514 SF
Marcus & Millichap as Exclusive Advisor is pleased to present the rare opportunity to acquire the fee-simple interest in the Marinwood Plaza ( Property ) located in Marin County, California. Marinwood Plaza is situated at the corner of Marinwood Avenue and Miller Creek Road with direct access and visibility to Highway 101. Marinwood Plaza is comprised of four separate contiguous parcels totaling 4.99-acres (217,573 SF) with a 33,514-square foot existing improvement. The northern most 15,190-square foot portion of the existing improvement is leased to Marinwood Market under a long-term lease. Marinwood Market is operating under a 15-year triple net lease that commenced on August 1, 2011 and runs through July 31, 2026. The lease incorporates annual consumer price index increases capped at 6.0% per annum throughout the base term and the first 10-year option and second 9-year option periods. Marinwood Market is required to pay as percentage rent 2.0% of gross sales in excess of the minimum monthly base rent.
1400 Fourth Street (also known as 1001 D Street) in San Rafael offers a fully leased investment opportunity in Marin County. The multi-tenant retail/office property is leased to five tenants with staggered lease expiration dates. The leases are below market with future upside in rents. The ground floor consists of two retail spaces and the second floor consists of three office tenants of which one is a dentist. The property provides 8± on-site parking spaces for tenants and clients.
The subject property is located in San Rafael, California, 10 miles north of San Francisco and the Golden Gate Bridge. With a population of 60,000, San Rafael is the largest city in Marin County. The Bay Area is one of the strongest economies in the world. Marin County, with a population of 260,000 has the lowest unemployment rate (3.9%) of any of the 53 counties in the state of California. The average household income (5 mile radius) is $124,100 annually. There is a high barrier to entry for a big box retailer in this area. The Best Buy store is highly visible and adjacent to Highways 101 and 580, with an average daily traffic count of approx. 150,000 vehicles. Biomarin Pharmaceutical Inc., Marin County's largest employer, has their 450,000 Sq. Ft. headquarters campus just 3 block north of the Best Buy location. Other major retailers in the immediate area are Office Depot, Staples, Home Depot, Target, Whole Foods and Trader Joes.
This property will be delivered vacant at COE. This historical stucco building fronts Fourth Street on Miracle Mile in San Rafael and houses Chrysanthemum Restaurant. The building was originally constructed as a church and has a stucco finish with windows to the front and to the interior patio space. This handsomely designed restaurant has two interior dining areas, two bathrooms and a well laid out and equipped kitchen. The outside patio could also be used for seating. Chrysanthemum Restaurant opened for business in 1989 and has always been a family owned and run restaurant. Many people consider Chrysanthemum' s offerings as the BEST Chinese food in Marin. The restaurant has a long time customer following. The price in this offering includes the real property, and the restaurant fixtures, furniture and equipment. Also included is an onsite beer and wine license. Although there is goodwill, the offering price is as an asset only sale. Some decorative and leased items are excluded from the sale. Please contact listing broker for a list of the items that are included. This is an excellent opportunity for a free standing building with parking, and monument signage.
26 Medway is an ideally located Neighborhood Commercial strip center comprised of 16 units and located one block from East Francisco Blvd. The property is in the perfect location to continually attract retail tenants to a desirable location near a large residential population. Very few buildings in the neighborhood offer the small size that is in high demand for small retail tenants. The buildings offer an opportunity for an investor to purchase a 94% occupied, income producing asset with strong upside potential. With many short term leases in place and the opportunity to retain some existing tenants, 26 Medway is situated as a property that will have very few vacancies and high demand for years to come.