WINDSOR, CA, – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Star Station, a 17,000-square foot mixed-use property located in Windsor, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $3,150,000.
Erich Reichenbach, an investment specialist in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Erich Reichenbach.
Starr Station a 23-unit residential/office mixed-use property located at 9940 Starr Road, Windsor, California. The property presents an excellent opportunity to acquire a quality asset in a desirable location in Sonoma County.
Starr Station offers eleven garden-style residential units in a highly sought-after market including four three bedroom/two bath units a seven two bedroom/two bath units. The property’s amenities include private patios and balconies, updated units, abundant closet space, covered parking and an average of 975 square feet per unit.
Vacancy rates in Sonoma County are currently below 3.0% and this property offers substantial upside in the rents. In addition to the apartment units, the property includes twelve office spaces which are 100% occupied by established, long-term tenants. The offices units average 466 square feet and serve the local business community. This mixed-use property is a very well-maintained, recently renovated investment opportunity located in the heart of the Sonoma Wine Country, providing tenants with a superior living environment by any other Sonoma County property on the market. The buildings are two-story construction and are built on a concrete pier foundation.
About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 7,600 transactions in 2014 with a value of approximately $33.1 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.