Active
150 Shoreline Hwy
Mill Valley CA, 94941
$4,800,000
$316.87 per sqft
Active
15,148 sqft
Commercial
Built in 1971
3-Buildings 24 or 48-Units 15,148 Square Feet Total First-Time on the Market in 50-Years LOTS of Potential Uses INVESTORS ... good cash-flow and 5% Cap-Rates with the current Tenants INVESTORS #2 ... 10% Cap-Rates by converting back to market-rate housing INVESTORS #3 ... Convert to affordable condos to sell individually or make into live/work spaces ... over $3-million upside potential YMBY (YES in My Backyard) ... Non-Profit Groups - convert to housing for Disabled Veterans, or other vital programs YMBY #2 ... Potential to double the number of units to 48 studio apartments ... upstairs units can be adapted to have separate entrances ... see the Matterport Tour for a sample of an upstairs studio COMPANY HEADQUARTERS ... High-Visibility Location, excellent parking, campus-like setting and immediate access to Highway-101 make this an interesting option. A FEW NUMBERS : $100,000 or $200,000 per unit 24-units (1-bedroom) or 48-units (studio apartments) Possibly build more units 3 buildings - about 5,000 square feet per building The asking price is $318 per square foot, which is way below what it would cost to build in today's market OK to drive around the buildings - but, please DO NOT ENTER BUILDINGS or DISTURB TENANTS
41042766
MLSⓇ ID
October 24, 2023
Listed
May 9, 2024
Updated
Map
150 Shoreline Hwy
Mill Valley CA, 94941
Interior Features
Floor Description
Carpet
Fireplace
No
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.86 Acres
Exterior Features
Greenbelt
Lot Features
Level, Premium Lot
Roof
Shingle
Sewer
Public Sewer
Other Property Details
Area Name
Mill Valley
Garage
No
Parking
Parking Lot, Uncovered Park Spaces 2
View
No
County
Marin
Water Source
Public
Pool
No
Waterfront
Yes
Buyer Agency Compensation
3%
Listed by Kevin Obrien with Re/Max Accord
Listing Contact: 925-595-0422
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