Office For Sale
11,262 Sq Ft
Marcus & Millichap is pleased to exclusively present to investors and business owners the opportunity to acquire the fee simple interest in 695 De Long Avenue in Novato, California. The offering is an approximately 11,262 square-foot office building featuring two above-grade floors and a useable basement. Located immediately off the Highway 101 northbound De Long Avenue offramp, the subject property provides excellent freeway access and visibility. 695 De Long is 97 percent leased by eight tenants, the majority of which are individuals or small businesses 1-3 people in size and on terminable month-to-month leases. Four tenants with 29% of the rentable area are terminable with written notice and the largest tenant, Imperial Construction, who is leasing 68% of the rentable area, has already vacated and has expressed interest in terminating the lease before their December 2019 lease expiration date. Depending on the prospective purchaser’s desire, there is a probability to deliver the property on a path to vacancy.