For Sale: Warehouse & Office Condo · Peter Gettner (415) 269-3622 [email protected] Lic#: 00785623 Dirck Brinckerhoff (415) 446-4222 [email protected] Lic#: 00657732 For Sale: Warehouse

No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. The prospective purchaser/lessee should independently verify all information.

HL Commercial Real Estate70 Mitchell Blvd., Suite 202 San Rafael, CA 94903www.hlcre.com

Contact:Peter Gettner(415) [email protected]#: 00785623

Dirck Brinckerhoff(415) [email protected]#: 00657732

42 Digital Drive, Unit 13, Novato, CA

• One Roll-up Door• 18’ Clear Height • Office and Private Restroom• Legal Loft Area • Good Street Exposure• Owner/User Opportunity

For Sale: Warehouse & Office Condo

Asking Price: $850,000Price Per Sq. Ft.: $298Total Condominium Sq. Ft.: 2,850 +/-

Offering Summary

3/27/19

mailto:[email protected]






For Sale: Warehouse & Office Condo42 Digital Drive, Unit 13, Novato, CA 94949

Property Description:

This entire property consists of industrial condos developed by a local developer in 1990. The available Unit 13 is 2,850 +/- sq. ft. with an office and a private restroom. There is a legal loft area. The warehouse space has 18 foot ceilings and one 12 foot roll-up door. The construction is concrete tilt-up with silver top roof.

The site was designed with good on-site parking and a driveway capable of 40 foot truck traffic.

Location Description:

This property is conveniently located in Northern Marin, with easy access to both to Highway 101 and Highway 37.

Property Details:

Nearest Cross Street: Galli DriveTax Assessor’s Parcel #: 157-501-45Condominium Size: 2,850 +/- sq. (includes loft area) (the assessor’s record is source, agent has not verified square footage)Land Size: Industrial CondominiumParking Spaces: 3 unreserved spacesYear Built: 1990 +/-Stories: Ground floor plus loftConstruction: Concrete Tiltup construction with silver top roof and concrete foundationWarehouse Ceiling Height: 18 feetNumber of Roll-up Doors: OneElectrical and Mechanical: 100 ampFire Sprinklers: YesHeating & Air Conditioning: Yes (Office area only)Flood Zone Designation: Zone X (An area that is determined to be outside the 100- and 500-year floodplains)








Zoning:

Zoning/Permitted Uses: PD (Planned Development District)

Most uses that conform to LI/O (Light Industrial/Office are permitted in this district (i.e., assembly, manufacturing, cabinet shops, laundries, recycling, distribution and other related activities). No auto repair. - See the Novato Industrial Park Precise Development and Master Plan for particulars. Also, see the CC&Rs of the Condo Owner’s Association.

Financial Terms:

Price: $ 850,000 ($298 psf)Financing: SBA with 10% down may be possible to qualified buyer.Owner Assoc. Dues: $450 per month for 2019



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UPUP

Floor Plans Not to Scale

Mezzanine528 +/- sq. ft.

Ground Floor Office528 +/- sq. ft.

Warehouse1,798 +/- sq. ft.

42 Digital Dr., Unit 132,850 +/- sq. ft.








SBA 504 Loan ScenarioOwner-User Office Building Purchase Financing Scenario as of: 2/22/19

Own the Business? Own the Building.

Building Purchase Price $850,000 42 Digital Drive, #13, Novato, CAImprovements $0 Building Size 2,850 sfOther $0Total Project Costs $850,000 Price Per Sq. Ft. $298 psf

Property Contact:Peter F. Gettner

Senior Vice PresidentHL Commercial Real Estate

Direct: (415) [email protected]

Financing Package Amount Rate Term Amort Monthly PymtBank 1st Mortgage 50% 425,000$ 5.00% 25 Yrs 25 Yrs 2,485$ SBA 504 2nd Mortgage* 40% 352,000$ 4.76% 25 Yrs 25 Yrs 2,009$ Down Payment 10% 85,000$

4.89% $1.58 PSF 4,493$

PSF Monthly PSF MonthlyMortgage Payments $1.58 $4,493 Total Monthly Cost $1.87 5,343$ Property Taxes & Insurance $0.30 $850 Less: Tax Benefit - Depreciation (1,453)$

Less: Sub-Tenant Rental Income -$ Total Monthly Cost $1.87 PSF $5,343 Adjusted Monthly Cost $1.37 PSF $3,890

Cash Down Payment 10.0% $85,000Estimated Bank Fees 1.0% $4,250Total Cash Required $89,250

Assumptions: The following assumptions were made in the preparation of this sample. Please let us know if there are specific values you'd like to see.

● Bank rate, terms and fees are estimated and vary depending on lender. ● Operating costs, title and insurance are estimates.

● Depreciation is estimated at an 80% bracket over 39 years.

For more information contact:

Your SBA 504 Loan Expert:Anna O'BrienSVP, TMC Financing415.272.4544

[email protected]

● SBA Rate shown is as of Feb' 2018, actual rate will set at funding.

SBA 504 90% Loan to Value Financing

Monthly Costs Forcasted Ownership Benefits

Out of Pocket Expenses Invest in Your Future: Equity Over First 10 Years

● 90% LTV financing generally does not require additional collateral.

● Equity is based on a 2.0% annual appreciation rate.

*Includes financed SBA fee of $12,000

● SBA fee is 2.65% of the SBA Loan Amount, plus a $2,500 legal fee - all fees financed and included in loan above.

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Documents

For Sale: Warehouse & Office Condo · Peter Gettner (415) 269-3622 [email protected] Lic#: 00785623 Dirck Brinckerhoff (415) 446-4222 [email protected] Lic#: 00657732 For Sale: Warehouse