Offering Summary
175–185 Market Street is a 100% leased, multi-tenant industrial property in San Rafael’s Canal District totaling approximately 15,500 SF (about 15,400 RSF) on a 0.46-acre parcel. The property is leased to four tenants with staggered expirations (2026–2031), providing in-place income today and a defined near-term rollover event.
Property Description
The property includes two connected Butler metal warehouses originally built in 1959. Recent improvements include a new TPO roof, LED lighting, skylights, insulation, and upgraded bathrooms—supporting a clean, “buy it and run it” ownership profile.
The buildings offer functional small-bay utility with clear-span bays reaching approximately 21’ at the center, multiple grade-level doors, 400-amp, 3-phase power, and frontage parking. Now that the asset is fully leased, the story is simple: stabilized cash flow day one, with rollover spread across multiple tenants rather than concentrated in a single lease.
Location Description
175–185 Market Street is located in San Rafael’s Canal District, an infill, last-mile industrial pocket where land is scarce and replacement supply is difficult. The site is approximately two minutes from the US-101 / Andersen Drive interchange and under 20 minutes to the Golden Gate Bridge, providing efficient access to San Francisco, the East Bay (via I-580), and the broader North Bay.
Highlights
- 100% Leased / Stabilized — ~15,400 RSF leased to 4 tenants; diversified rent roll
- Scheduled Rent $282,306/ Net Operating Income $192,262/ Cap Rate 5.47%/ $225psf.
- Defined rollover profile — lease expirations 2026–2031 (one near-term rollover; balance longer-dated)
- Functional industrial utility — ~21’ center height, multiple grade-level doors, 400-amp 3-phase power
- Recent capital work — TPO roof + building upgrades completed in recent years
- Infill / last-mile location — quick US-101 access for strong re-tenanting and long-term liquidity
- Reset pricing story — positioned as a stabilized investor offering (no lease-up narrative)
- Illustrative Year-1 depreciation — up to $404,481 via cost segregation + 100% bonus depreciation on eligible components under the One Big Beautiful Bill Act (buyer to verify with CPA).
Tax estimates are illustrative only and depend on purchase allocation, timing/placed-in-service rules, entity structure, and taxpayer-specific limitations. Buyer to verify with tax advisor.
Testimonial: “Ces Cecchin is the best! With his efficiency, hard work, and outstanding marketing he stirred up multiple offers in a tough market and got us in contract in less than ten days! I highly recommend Ces. You can trust him, and he’ll get the work done!” — Wendy E., Partner Owner