Northgate Properties 1-55 Mitchell Blvd 75,248 SF 100% Leased Office Building San Rafael, CA 94903 $16,000,000 ($212.63/SF)

Available for purchase for the first time, Northgate Properties represents a generational opportunity to acquire an iconic multi-tenant commercial property at the gateway to the Northgate Industrial Park, situated on 5.25 acres with immediate access to Highway 101. The buildings have been meticulously maintained and constantly updated and historically enjoy high occupancy levels far above the market average, due to the buildings’ quality, amenities and campus-like environment. Both buildings are fully sprinklered, with ADA upgrades throughout, and all building systems are in pristine condition.
Currently 94% leased, the 67 tenant spaces attract a wide variety of small and medium-sized businesses that appreciate the comfortable, efficient and affordable location, the abundant parking, and the flexible floor plans. Under market rents provide future upside for a new owner. The offering also includes the leasehold of two adjacent parcels, which may present an interesting opportunity for a buyer. Northgate Properties represents an exceptionally stable asset, with pricing well below replacement cost, and, with its 5.25 flat acres, an opportunity for future development.