Exclusively Listed FOR SALE by Coldwell Banker Commercial NRT NRT KAUFMAN BUILDING ±3,415 SF OFFICE BUILDING FOR SALE 1100 Sir Francis Drake Blvd., Kentfield, CA 94904 PREPARED BY: Coldwell Banker Commercial NRT Jonathan Davis 510-387-7792 jonathan.davis@cbnorcal.com 480 3rd Street, Oakland, CA 94607
THE PROPERTY 1100 Sir Francis Drake Blvd. Kentfield, CA 94904 OVERVIEW Price: $2,250,000 CAP Rate: 4 % Property Type: Office Size: ±3,415 SF Land: ±11,325 /.26 AC APN: 071-122-06 PROPERTY HIGHLIGHTS Rare office property for sale in prestigious Kentfield Average household incomes exceeds $157,000 100% Occupied Affluent Demographics Outstanding visibility Perfect owner/user or investor opportunity Situated on Sir Francis Drake Blvd., a major traffic artery, Traffic counts exceed 33,000 vehicles per day 90 feet of frontage on Sir Francis Drake Blvd. 125 feet of frontage along Altamira Ave. Zoned OP (planned office district) PROPERTY AND LOCATION DESCRIPTION Coldwell Banker Commercial as exclusive advisor is pleased to offer the unique opportunity to acquire 1100 Sir Francis Drake Blvd., Kentfield, California (Marin County, San Francisco Bay Area). The Property consists of 1 building totaling approximately ±3,415 square feet situated on an approximately ±11,325 square foot lot. Sir Francis Drake Blvd is a major thoroughfare with traffic counts of ±33,000 vehicles per day. Comprised of three distinct spaces, the building is currently 100% occupied by two medical tenants and one law firm. This centrally located property benefits from outstanding visibility and is an ideal purchase for either an owner/user or investor seeking to own in this highly affluent community ($157,000 average household income). Property has been well maintained and the units are separately metered for gas & electricity. Situated at the base of Mt. Tamalpais, Kentfield is town of 6,667 people. Surrounded by beautiful, green, rolling hills, Kentfield is a world away from the hustle and bustle of the big city, but only a short commute from just about everywhere. This site sits directly across the street from The College of Marin and is a short drive to Interstate 101. Forbes lists Kentfield as #60 in America s Most Expensive Zip Codes in the USA. The Median home value is $2,083,654. 2
PROFORMA OPERATING STATEMENT & RENT ROLL Price: $2,250,000 Current CAP: (Proforma as of 1/1/18) 4.17% Approx. Age: 1962 Approx. Lot Size: 11,326 Building Size: 3,415 Price/SF: $658.86 Annualized Expenses Property Tax $24,930 Maintenance & Repairs $5,000 Insurance $2,500 Gas & Electric $300 Total Expenses: $ 32,730 Annualized Operating Data Scheduled Gross Income: $126,480 Gross Operating Income: $126,480 Less Expenses: $32,730 25.88% Net Operating Income: $93,750 as of 1/1/2018 Rent Roll Size Rent $/SF Increases Start Date End date Options Benjamin Graves ±1,118 $2,801 $2.51 4%/year 11/12/2012 4/6/2021 5 year option * Cleanse Marin ±1,110 $3,354 $3.02 4%/year 4/1/2012 4/1/2018 5 year option Smooth Operations ±1,033 $4,109 $3.98 4%/year 1/1/2013 12/30/2018 None Total $10,264 Total as of 1/1/2018 $10,540 * New buyer has right to cancel lease for Benjamin Graves with 12 months notice. 3
PROPERTY PHOTOS 4
PROPERTY PHOTOS 5
FLOOR PLANS 6
PLAT MAP 7
DEMOGRAPHICS Population 1-mi. 3-mi. 5-mi. Population 1-mi. 3-mi. 5-mi. Total Population (US Census 2010) 8,141 81,245 147,029 Total Population (Current Year) 8,468 84,928 152,628 Total Population (Five Year Projection) 8,614 86,877 155,333 Adult Population (US Census 2010) 6,109 64,063 116,541 Adult Population (Current Year) 6,488 67,101 121,441 Adult Population (Five Year Projection) 6,744 69,125 124,745 % Female Population (US Census 2010) 52.55% 51.02% 50.07% % Male Population (US Census 2010) 47.45% 48.98% 49.93% % Female Population (Current Year) 53.01% 51.39% 50.52% % Male Population (Current Year) 46.99% 48.61% 49.48% % Female Population (Five Year Projection) 53.09% 51.48% 50.58% % Male Population (Five Year Projection) 46.91% 48.52% 49.42% Total Daytime Population 10,120 96,797 171,459 Population aged 16 and under (Children) 2,360 15,812 29,862 Daytime population (Age 16+) 7,760 80,984 141,597 Civilian 16+, at Workplace 4,279 56,026 95,898 Retired population (Age 65+) 1,248 10,560 21,237 Homemakers (Age 16+) 982 6,357 11,074 Population Mosaic (Current Year) 1-mi. 3-mi. 5-mi. % Power Elite 37.35% 7.39% 8.82% % Flourishing Families 0% 3.29% 2.21% % Booming with Confidence 51.4% 48.91% 54.14% % Suburban Style 0% 0% 0% % Thriving Boomers 3.26% 24.45% 20.2% % Promising Families 0% 0% 0% % Young City Solos 0% 1.77% 0.98% % Middle-class Melting Pot 0% 1.5% 2.36% % Family Union 0% 0% 0% % Autumn Years 0% 0% 0.38% % Significant Singles 7.99% 2.74% 1.52% % Blue Sky Boomers 0% 0% 0% % Families in Motion 0% 0% 0% % Pastoral Pride 0% 0% 0% % Singles and Starters 0% 0% 0% % Cultural Connections 0% 9.88% 5.47% % Golden Year Guardians 0% 0.06% 0.24% % Aspirational Fusion 0% 0% 0% % Economic Challenges 0% 0% 0% % Unclassified 0% 0% 3.7% 8
DEMOGRAPHICS Income 1-mi. 3-mi. 5-mi. Per Capita Income (2010 US Census, based on Total Population) $73,190 $54,440 $56,434 Per Capita Income (Current Year, based on Total Population) $83,706 $61,273 $63,541 Per Capita Income (Five Year Projection, based on Total Population) $95,219 $70,746 $73,085 Average (Mean) Household Income (Current Year) $210,709 $149,166 $155,942 Median Household Income (Current Year) $128,920 $93,563 $100,591 % Households by Income (Current Year) 1-mi. 3-mi. 5-mi. % Household Income < $10,000 4.53% 4.09% 3.64% % Household Income $10,000-$14,999 1.87% 3.53% 3.1% % Household Income $15,000-$19,999 1.48% 3.16% 2.73% % Household Income $20,000-$24,999 2.33% 3.44% 3.12% % Household Income $25,000-$29,999 2.2% 2.81% 2.66% % Household Income $30,000-$34,999 2.49% 3.92% 3.34% % Household Income $35,000-$39,999 2.49% 3.02% 2.78% % Household Income $40,000-$44,999 1.61% 2.66% 2.57% % Household Income $45,000-$49,999 2.13% 3.42% 3.17% % Household Income $50,000-$59,999 4.73% 5.38% 5.28% % Household Income $60,000-$74,999 4.6% 6.61% 6.82% % Household Income $75,000-$99,999 9.16% 10.65% 10.53% % Household Income $100,000-$124,999 9.35% 10.28% 10.78% % Household Income $125,000-$149,999 5.37% 6.7% 7.24% % Household Income $150,000-$199,999 10.31% 9.58% 10.13% % Household Income $200,000-$249,999 10.28% 7.26% 7.91% % Household Income $250,000-$499,999 14.76% 8.11% 8.57% % Household Income $500,000+ 10.3% 5.36% 5.64% Education (Current Year) 1-mi. 3-mi. 5-mi. Education 1-mi. 3-mi. 5-mi. College undergraduate 642 4,670 8,182 Graduate or prof school 104 1,266 2,238 9
CONTACT INFORMATION For more information, please contact: JONATHAN S. DAVIS COLDWELL BANKER COMMERCIAL - NRT 480 3rd Street Oakland, CA 94607 Phone: (510) 387-7792 jonathan.davis@cbnorcal.com 10