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 £6,534,653 (£277/SF) 7.29% Net Initial Yield
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 | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
£476,129
|
£20.17
|
Financial Summary (Pro forma - 2019)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | £476,129 |
| Annual Per SF | £20.17 |
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
£6,534,653
Price Per SF
£277
Net Initial Yield
7.29%
NOI
£476,129
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
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 | £2,586,984 (2023) |
| Land Assessment | £2,672,854 (2023) | Total Assessment | £5,259,838 (2023) |
PROPERTY TAXES
Parcel Number
020-034-14
Land Assessment
£2,672,854 (2023)
Improvements Assessment
£2,586,984 (2023)
Total Assessment
£5,259,838 (2023)
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Shops at Magnolia | 1133-1143 Magnolia Ave
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