1681 TIBURON BLVD - LoopNet...Office 510 $8.20 Leased 10/20 Subject Retail Office 2134 466 $3.12...

1681 TIBURON BLVDTiburon, CA 94920

FREE-STANDING RETAIL/OFFICE BUILDING Offered at $1,750,000

SCOTT GERBERManaging Director [email protected] #01138762

Kate RaphaelInvestment Associate [email protected] #02027825

The information set forth herein has been received by us from sources we believe to be reliable. We do not warrant its accuracy or completeness.

1681 TIBURON BLVD

21681 Tiburon Blvd, Tiburon, CA

Meridian Commercial (“Broker”) has been retained on an exclusive basis to market the property described herein (“1681 Tiburon”). Broker has been authorized by the Seller of the Property to prepare and distribute the enclosed Offering Memorandum for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller, its affiliates or Broker. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

All inquiries related to the property should be directed to the exclusive listing agent:

Scott GerberManaging Director [email protected] #01138762

711 Grand Ave Suite 290 San Rafael, CA 94901ph: 415.927.8888 fx: 415.451.4908www.scottgerber.com

OVERVIEW

Located one Block from Tiburon Main Street and one and a half blocks from the San Francisco Bay, 1681 Tiburon Boulevard is a fully leased 2,600 square foot free-standing retail and commercial building.

Conveniently located in proximity to all that makes Tiburon a world class destination, the property is priced below recent Tiburon sales comps and is being offered for the first time in 22 years.


1681 TIBURON BLVD


PROPERTY OVERVIEW

INVESTMENT SUMMARYERTY DETAILSPrice: $1,750,000

Building SF: 2,600

Price/SF: $673

Cap Rate: 4%

PROPERTY HIGHLIGHTS

• Fully Leased Downtown Tiburon Retail/Office

• Rare Free-standing building

• A+ Location

• Starting 4% Cap Rate

• Ample off street parking

• Currently zoned NC-Neighborhood Commercial

• High visibility along the main thoroughfare

• Located in one of the wealthiest cities in the U.S.


1681 TIBURON BLVD


SITE SURVEY

PROPERTY DETAILSERTY DETAILSAddress: 1681 Tiburon Blvd

Building SF: 2,600

Zoning: NC

Parcel Number: 058-171-10

Parking: 8 spaces


1681 TIBURON BLVD


OPERATING INFORMATION

Annual Scheduled Gross Income: $104,064Vacancy (5%) $5,203

Gross Operating Income: $98,861Taxes (New Rate: 1.0994% + $1,586.6) $20,826

Insurance $2,250

OnSite/Janitorial $0

Water & Sewer $3,403

Gas & Electric $0

Trash $0

Property Management $0

Maintenance/Repair (Est.) $2,080

Landscaping $0

Misc. $300

Total Expenses: (27.73%) $28,859Net Operating Income: $70,002

*Tenant is currently in default of their lease

Tenant Approx. SF Rent/SF Lease Term Monthly Income

Tiburon Cleaners 2134 $3.12 10/31/2022 + 3yr option* $6,650

Tideline Marine 466 $4.34 5/31/2021 + 1yr option $2,022

Total Monthly Scheduled Rent: $8,672


1681 TIBURON BLVD


Rent Comparables Use SF $/SF Availability1 Blackfield DrTiburon, CA

Retail 2,653 $3.50 Available

10-14 Main StTiburon, CA

RetailOffice

1,3201,540

$4.22$4.00

Leased 3/20Leased 10/20

55 Main StTiburon, CA

Office 510 $8.20 Leased 10/20

SubjectRetailOffice

2134466

$3.12$4.34

Leased

RENT COMPARABLES

1

1

2

2

3

3


1681 TIBURON BLVD


Sold Comparables Price Year Built SF Price/SF C.O.E.41 Main StTiburon, CA

$1,025,000 2005 1,383 $741 9/2019

27-33 Main StTiburon, CA

$8,000,000 1950 9,810 $815 2/2018

1601 Tiburon BlvdTiburon, CA

$5,950,000 1973 6,487 $917 OTM

Subject $1,750,000 1964 2,600 $675 OTM

SOLD COMPARABLES

1

1

2

2

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3


1681 TIBURON BLVD


East Elevation

West Elevation

PROPERTY PHOTOS


1681 TIBURON BLVD


TIBURON KEY FACTS

AVERAGE HOUSEHOLD INCOME

9,043POPULATION

$270,969Average Household Income

AVG. HOUSEHOLD SIZE

AVERAGE AGE

2.2

51.2

$270,969Tiburon

$157,468Marin County

$137,761San Francisco

MEDIAN HOME SALE PRICE

$3,412,000Tiburon

$1,200,000Marin County

$1,447,000San Francisco

DEMOGRAPHICS


1681 TIBURON BLVD


RETAILER MAP


1681 TIBURON BLVD


LOCATION MAP

1681 TIBURON BLVD - LoopNet...Office 510 $8.20 Leased 10/20 Subject Retail Office 2134 466 $3.12...

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