Team Overcomes Market Challenges and Secures Ideal Buyer for Property through Creative Marketing
Challenge: The property faced several challenges, including limited demand due to the scarcity of single tenant office users in the area, a large floor plan that was ideal for owner users but not suitable for most commercial tenants, reduced demand for large office footprints after the onset of COVID-19, and a long-term lease with an existing tenant. The property also lacked sufficient parking, which made it difficult to attract potential buyers.
Action: To overcome these challenges, the team took several proactive steps. They targeted medical providers in the downtown area and exposed the property to local apartment developers, medical service providers, nonprofit services, and the city and county. The team developed a high level of exposure through effective signage, online presence, cold calling, and held open houses to showcase the property’s potential.
Results: The team’s efforts paid off, as they received an offer to purchase the property from a nonprofit service provider that planned to use the property for medical and support services. The buyer needed to apply and go through a lengthy conditional use and building permit process, which the team supported them through. The seller and buyer agreed to hold the property off-market for a period using a paid option to purchase during the permitting process, which provided the buyer with the necessary time to obtain the required permits and financing.
- Downtown Warehouse Office to be converted to Medical
- 14,000 Square Feet.
- Change of use opportunity
Property Description
800 A Street is a Class B office building of about 13,963 sq ft, originally built in 1920 and renovated in 2010. It is single-story, with multiple tenants, and qualifies under San Rafael’s MUE 2/3 zoning, which allows a mixture of uses including office, retail, medical, residential, etc. Amenities include skylights, central heating, reception area, storage, monument signage, 24-hour access. Parking is limited (9 spaces).
Location Description
Located in the downtown area of San Rafael, 800 A Street offers a prime spot with great visibility and easy walking access. The property is close to bus lines and commuter rail stations, making it easy to get around. This location is surrounded by local businesses, restaurants, cafes, and civic buildings, so tenants will have plenty of services nearby.
The zoning allows for many different types of businesses, giving tenants flexibility in how they use the space. Whether for retail, office, or other services, this property can meet a variety of needs. The building combines modern finishes with the charm of its historic design, making it a great choice for tenants who want a mix of old and new. It’s a perfect location for anyone looking to be in the heart of San Rafael’s growing and busy downtown.
Highlights
- Class B office building with recent high-end renovation (2010)
- Downtown location with walkability and exposure
- Multi-tenant layout enabling diversified income stream
- Zoning (MUE 2/3) allows wide range of uses (office, medical, retail, residential care, etc.)
- Amenities: skylights, storage, reception, monument signage, 24-hour access
- Limited but usable on-site parking (9 spaces)
Testimonial: “Ces was instrumental in helping us find the right buyer for our property. From pricing to marketing to closing the deal, he was with us every step of the way. His dedication and expertise made all the difference, and we couldn’t have been happier with the outcome. We highly recommend Ces to anyone who is looking to sell their investment property. Thank you, Ces!.”– Kurt Leswing and Elsa Leung, Owners