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242 Shoreline Hwy

3,186 SF 57% Leased Retail Building Mill Valley, CA 94941 £4,339,500 (£1,362/SF) 4.50% Net Initial Yield

Investment Highlights

  • Great Mill Valley location with high foot and vehicle traffic
  • Owner has authorization from the County of Marin to build an additional 1,500 sq ft building on the south side of the rear lot area
  • The automotive business is sold in conjunction with real estate and generates more than $900k of annual income

Executive Summary

Pacific West Advisory Group is excited to present this opportunity to purchase a
2-unit retail building in the prime Mill Valley retail corridor. This location provides
fantastic foot and vehicle traffic and allows a new owner to capture an audience
commuting to and from San Francisco and Sonoma, as it sits on the main access
to Highway 101. This is an opportunity to purchase an established automotive
repair business and building and land in the high traffic and high visibility Tam
Valley market only 1 mile from Highway 101 (south) and Mill Valley (north) MVAS
services vehicles from southern Marin and San Francisco. The building is 3,700 SF
and the parcel is 13,318 SF, and the sale comes with the permitted right to build an
additional 1,500 SF building.
The sale includes a newly refurbished and remodeled 1,380 SF of front retail or
office space, and the back of the building housing the automotive business with
Office, lobby and restroom. The automotive repair component has an open work
area with a roll up door, automotive lifts and storage. The lot has open space for
parking and storage. In addition, the name, customer list, phone number, web
site and all related assets of the business are included in the sale. The back of
the building was renovated in 2016 and the front space in 2022.
Over 32,285 vehicles pass by the property daily, as Shoreline Highway is the route
to Mill Valley, Muir Woods, and Stinson Beach. The property is in the County of
Marin (not the city of Mill Valley) and is zoned Planned Commercial (PC).
This is an opportunity for an owner-user or an investor looking to operate and
expand an existing successful business or to redevelop the property for another
use. Given the rare and desirable attributes of the business and property, it has
potential for more growth and revenue for the existing automotive repair use or as a development opportunity in the future.

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Auto Repair
Building Size
3,186 SF
Building Class
B
Year Built
1949
Price
£4,339,500
Price Per SF
£1,362
Net Initial Yield
4.50%
NOI
£195,277
Percent Leased
57%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.24
Land Acres
0.31 AC
Zoning
CP - Planned Commercial - Numerous retail and office uses
Frontage
73 ft on Shoreline Hwy

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1st Floor
  • 1,370 SF
  • Retail
  • -
  • Now

PacWest Commercial is excited to present you with an opportunity to lease retail space in one of Mill Valey's most active retail corridors. This location provides fantastic foot and vehicle traffic and allows you to capture an audience commuting to and from San Francisco, as it sits on the main access to Highway 101. This property is an attractive 2-tenant building that has been occupied and used as a grocery and liquor store and closing retailer before. Space recently underwent a major renovation, and it could be a plug-and-play situation with no TI needed. The space benefits from 1 ADA-compliant bathroom, a complete storage room, and dedicated parking. This property is zoned CP (Planned Commercial), which allows for various uses, including general retail and office, in addition to food service.

Space Size Space Use Position Available
1st Floor 1,370 SF Retail - Now

1st Floor

Size
1,370 SF
Space Use
Retail
Position
-
Available
Now

1st Floor

Size 1,370 SF
Space Use Retail
Position -
Available Now

PacWest Commercial is excited to present you with an opportunity to lease retail space in one of Mill Valey's most active retail corridors. This location provides fantastic foot and vehicle traffic and allows you to capture an audience commuting to and from San Francisco, as it sits on the main access to Highway 101. This property is an attractive 2-tenant building that has been occupied and used as a grocery and liquor store and closing retailer before. Space recently underwent a major renovation, and it could be a plug-and-play situation with no TI needed. The space benefits from 1 ADA-compliant bathroom, a complete storage room, and dedicated parking. This property is zoned CP (Planned Commercial), which allows for various uses, including general retail and office, in addition to food service.

Walk Score ®
Very Walkable (76)
Bike Score ®
Biker's Paradise (91)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
052-052-09
Land Assessment
£554,935
Improvements Assessment
£275,881
Total Assessment
£830,816
  • Listing ID: 31655073

  • Date on Market: 30/04/2024

  • Last Updated:

  • Address: 242 Shoreline Hwy, Mill Valley, CA 94941

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