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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.
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
31681 Tiburon Blvd, Tiburon, CA
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.
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
41681 Tiburon Blvd, Tiburon, CA
SITE SURVEY
PROPERTY DETAILSERTY DETAILSAddress: 1681 Tiburon Blvd
Building SF: 2,600
Zoning: NC
Parcel Number: 058-171-10
Parking: 8 spaces
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
51681 Tiburon Blvd, Tiburon, CA
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
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
61681 Tiburon Blvd, Tiburon, CA
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
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
71681 Tiburon Blvd, Tiburon, CA
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
3
3
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
81681 Tiburon Blvd, Tiburon, CA
East Elevation
West Elevation
PROPERTY PHOTOS
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
91681 Tiburon Blvd, Tiburon, CA
East Elevation
West Elevation
PROPERTY PHOTOS
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
101681 Tiburon Blvd, Tiburon, CA
East Elevation
West Elevation
PROPERTY PHOTOS
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
111681 Tiburon Blvd, Tiburon, CA
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
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
121681 Tiburon Blvd, Tiburon, CA
RETAILER MAP
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
131681 Tiburon Blvd, Tiburon, CA
LOCATION MAP