Shops at Magnolia | 1133-1143 Magnolia Ave
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Shops at Magnolia 1133-1143 Magnolia Ave
23,606 SF 100% Leased Retail Building Larkspur, CA 94939 $11,732,572 CAD ($497 CAD/SF) 7.29% Cap Rate
Investment Highlights
- Outstanding exposure & access on Magnolia Avenue
- One of Larkspur's most traveled thoroughfares
- Potential development opportunity
- https://buildout.com/website/Shops
Executive Summary
Coldwell Banker Commercial Realty is pleased to present the Shops of Magnolia, an 23,600 square foot neighborhood retail strip center that is only 42.18% occupied by 7 tenants and is being offered for just under $350 per square foot. Immediate upside exists in leasing up the 13,600 square feet of vacant space, which includes a 6,500 square foot anchor space. The property is well positioned for future development.
Financial Summary (Pro forma - 2019) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$854,861
|
$36.21
|
Financial Summary (Pro forma - 2019)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $854,861 |
| Annual Per SF | $36.21 |
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
23,606 SF
Building Class
C
Year Built
1948
Price
$11,732,572 CAD
Price Per SF
$497 CAD
Cap Rate
7.29%
NOI
$854,861 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.35
Lot Size
1.55 AC
Zoning
NEC Commercial
Parking
59 Spaces (2.5 Spaces per 1,000 SF Leased)
Frontage
460 ft on Magnolia Ave
Amenities
- Signage
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Gravity Salon LLC
- -
- 1,100 SF
- -
- -
- Larkspur Barber
- -
- -
- -
- -
- Lehrer Designs
- -
- -
- -
- -
- Painter's Place
- -
- 1,293 SF
- -
- -
- Rustic Bakery
- -
- 3,300 SF
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Gravity Salon LLC | - | 1,100 SF | - | - | ||
| Larkspur Barber | - | - | - | - | ||
| Lehrer Designs | - | - | - | - | ||
| Painter's Place | - | 1,293 SF | - | - | ||
| Rustic Bakery | - | 3,300 SF | - | - |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 020-034-14 | Improvements Assessment | $4,577,066 CAD (2023) |
| Land Assessment | $4,728,993 CAD (2023) | Total Assessment | $9,306,060 CAD (2023) |
PROPERTY TAXES
Parcel Number
020-034-14
Land Assessment
$4,728,993 CAD (2023)
Improvements Assessment
$4,577,066 CAD (2023)
Total Assessment
$9,306,060 CAD (2023)
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Shops at Magnolia | 1133-1143 Magnolia Ave
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