Keegan & Coppin Company Represents Seller In $2.395MM Sale Of Copperfield’s Books Retail Property In Downtown San Rafael

Copperfield’s Books, San Rafael, Bay Area, Keegan & Coppin

Copperfield’s Books, San Rafael, Bay Area, Keegan & Coppin

SAN RAFAEL, CALIF. (September 12, 2016) — Keegan & Coppin Company, Inc-ONCOR International has brokered the sale of a 100% leased single-tenant retail property located at 850 4th Street in Downtown San Rafael. An undisclosed local private investor acquired the building from a Marin County family who had held it for generations. The property traded for the asking price of $2.395 million with a 4.62% cap rate.

Built in 1927 and reconstructed from slab to roof in 2013, 850 4th Street contains a total of 6,497 square feet on a 7,380 square foot lot. The property is currently occupied by regional bookstore operator, Copperfield’s Books, Inc., on a ten-year lease. Copperfield’s expanded to Marin in 2013 by opening the San Rafael location. Currently, the bookseller has eight locations in the North Bay, two in Marin County, and employs more than 100 people, half of whom are full-time.

The quality of the tenant, the condition of the building, and the property’s location within walking distance of the Downtown San Rafael SMART train station factored strongly in the buyer’s decision to purchase the retail site.

An adjacent 4,792 square foot lot located at 827 5th Avenue and leased to Copperfield’s Books, Inc. for employee parking was included in the sale.

Matt Storms and Nathan Ballard of Keegan & Coppin Company, Inc-ONCOR International represented the seller in the transaction.

About Keegan & Coppin Company, Inc.-ONCOR International
A dominant North Bay real estate firm since 1976, Keegan & Coppin Company, Inc.-ONCOR International provides a full range of services for tenants, property owners, and investors throughout Northern California. With more than 50 agents in four strategic offices in the North Bay – Santa Rosa, Petaluma, Napa, and Larkspur – Keegan & Coppin Company, Inc.-ONCOR International is the largest and most experienced commercial company in the North Bay. Affiliation with ONCOR International, an organization of the leading commercial real estate firms in major markets across the U.S., Europe, the Americas and Asia, facilitates the company’s regional and global capability.

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