1917 BridgewaySausalito, CA 94965

This exceptional investment opportunity presents two buildings situated on two lots in the heart of Sausalito, California, at the corner of Bridgeway and Spring Street. The property encompasses 2,666 square feet and boasts 10 parking spaces, a rare find in this desirable location. Currently housing three commercial tenants, the property offers a strong, stable income stream with 100% occupancy. The tenants include a well-established coffee shop, a spa, and another spa, all with varying lease terms and rent escalation clauses. The coffee shop, operating since 1966, enjoys a long-term lease with a significant rent escalation clause. The property's two buildings were constructed in 1917 and 1931, respectively, and are situated on a 3,000 square foot lot. The asking price is $3,400,000, representing a 5.00% cap rate. The property is offered as a 1031 exchange opportunity. The property's prime location, strong tenant occupancy, and potential for future development make it an attractive investment for discerning buyers. Property taxes for 2022 totaled approximately $35,736, and insurance costs were approximately $9,000. This is a unique chance to acquire a well-established, income-producing property in one of the most sought-after locations in Marin County. The property's address is 1917-1919 Bridgeway, Sausalito, CA 94965. Parcel numbers are 064-141-01 and 064-141-02.