1131 Magnolia AveLarkspur, CA 94939

Property Details for 1131 Magnolia Ave

Year built

1925

Lot size

0.34 AC

Property size (Sq ft)

8,171 SF

Property type

Other commercial real estate

APN

020-034-06

APU

2003406

Description

This exceptional mixed-use investment opportunity in Larkspur, CA, presents a compelling value-add proposition. The property, located at 1131 Magnolia Ave, 94939, comprises three buildings situated on a 15,000 square foot lot in the thriving North Magnolia commercial area. The main structure, a 5,000 square foot CMU retail building, houses two established tenants: Balloon Delights and Gloss Beauty. An underutilized storage area offers expansion potential. A separate freestanding commercial building at 1129 Magnolia Ave is available for lease, adding to the income stream. Additionally, a residential duplex (1131) provides further diversification. The property boasts a total of 8,171 square feet, currently operating at 85% occupancy, generating a Net Operating Income (NOI) of $69,708.76, and a current cap rate of 2.32%. A pro-forma cap rate of 4.42% highlights the significant upside potential. The asking price is $3,000,000, translating to $367.15 per square foot. Built in 1925, this property benefits from its strategic location adjacent to the new Magnolia Village development, a key thoroughfare connecting Larkspur to neighboring communities. With five units and a remaining lease term of two years, this property offers a blend of immediate income and long-term growth prospects in a highly desirable Marin County location. The property's mixed-use nature, multiple buildings on a single parcel, and established tenants make it an attractive investment for discerning buyers seeking a value-add opportunity in a prime location.

• Alternative Use

  Use

  Valuation

  Residential

  $2,565,900

  Hospitality

  $2,350,351

  Educational

  $1,955,464

  Medical

  $2,022,716

  Retail

  $3,041,833

Location Insight

City

Larkspur

County

Marin

State

California

Latitude

37.9473

Longitude

-122.548

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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