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111 Smith Ranch Rd
San Rafael, CA 94903 Smith Ranch

$9,748,000 USD

Medical For Sale  •  27,767 SF

Property Details

  • Property Type Medical
  • Total Building Size 27,200 SF
  • Lot Size 1.7 AC
  • Building Class C
  • Year Built 1993
  • Cap Rate 6.25 %
  • Tenancy Single
  • Zoning PD
33 Transit Score
52 Walk Score

Highlights

100% Leased to Kaiser Permanente (S&P: AA- credit rating) - psychiatry and addiction medicine service. Term through 8/2031 with 2 x 5 year options
Kaiser invested millions into tenant improvements in 2014 and 2019 (specialized interiors + IT infrastructure), demonstrating long term commitment
Marin County ranks Top 5 nationally in household income - High barriers to entry for medical office space, strong demographics
±0.5 miles from Kaiser’s 150,000 SF headquarters campus - 2.5 miles from Kaiser San Rafael Medical Center (116-bed hospital)
Kaiser extended its lease for an additional five years through August 2031 and have two additional five-year extension options
Landlord installed 95.5kW Solar panels and infrastructure in 2023, along with recent roof replacement, resealed parking lot and resealed windows

Property Flyers

Cap Rate: 6.25 %

Major Tenants

Tenant SF Occupied Lease End Date
Kaiser Permanente

Public Transportation

Commuter RailDriveWalkDistance
Marin Civic Center Smart (Main Line - Sonoma Marin Area Rail Transit) 3 min - 2.0 mi
Novato Hamilton Smart (Main Line - Sonoma Marin Area Rail Transit) 6 min - 3.5 mi
AirportDriveWalkDistance
San Francisco International 55 min - 35.0 mi
Metro Oakland International 47 min - 35.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 88
Type: Surface
Included in Rent: Yes
Mike Zylstra 925-963-9766 Newmark
Mike Zylstra 925-963-9766 Newmark