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Price:$450,000
Size SqFt:8,732

Property Description

8,732 Sq Ft Lot in the City of Novato. Land has been permitted for a 2 story, 2,340 sq ft Mixed Use Property. Ground Level permitted for office space with apartment on the top floor. Property is located on the South East corner of Rolling Drive and Marin Valley Drive.

Novato is home to more than 2,500 businesses including corporate headquarters, state-of-the-art technology companies, and both specialty and large-scale retailers. Its economic drivers include healthcare, finance, technology, and biotech. Within the last few decades, Novato has developed a reputation as a biotechnology center.

Marin County sits just north of the San Francisco and is bordered on the north by Sonoma County, to the east by Solano and Contra Costa counties, and to the west by the Pacific Ocean. The area is served by only one major freeway, U.S. Highway 101, which roughly bisects the county running north and south. The other major transportation artery is Highway 580 which connects the East Bay to San Rafael in central Marin County. While other state highways and country roads provide access to the area, Highways 101 and 580 remain the only interstate highways linking the county with the other major arterials. The traffic on these freeways has steadily increased over the years with the growth of Novato Submarket – Novato is the northernmost city in Marin County, California, and is located approximately 29 miles north of San Francisco and 37 miles northwest of Oakland. Marin County’s population as of 2013 is estimated by the Federal Census Bureau at 258,365. Novato, which covers 28 square miles, has an estimated 2013 population of 54,194 and 21,158 households (2010 census). Novato’s population is 76% White, 21.3% Hispanic, 5.6% Asian, 2.7% and 4.9% all other. Market Trends – Like most everywhere else in the Bay Area, the residential real estate market has rebounded to pricing not seen since the peak in 2007. 2014’s median sales price in Marin was $999,000. It is a supply constricted market, with literally no new construction of any condominiums in many years. With long term interest rates near all time lows, employment very high, the near future looks to be a great time to come on the market with new product.

This is an ideal project for an investor or owner/builder, with proximity to San Francisco and Silicon Valley and with a large population today’s workforce working from home or owning their own business this provides unique opportunity in the rapidly tightening Marin County market.

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