San Rafael, CA (October 16, 2017) – Meridian Commercial President Matt Brown announced today that his firm represented the buyer and seller of a San Rafael retail investment property that traded for $1,705,000, or $235.43 per square foot.
Samuel Ko in Meridian’s San Rafael office was the only broker involved in the sale.
The property, a retail strip center located at 100 El Prado Avenue in San Rafael, has three stores totaling approximately 7,242 square feet. The property was 100 percent leased at the time of sale with three tenants that include the Dandy Market, Express Green Cleaners and Papillion Fitness.
The seller was the John A. Dawdy Revocable Trust & David E. Larrieu while the buyer was Moon Sik Jee & Mi Ye Jee.
Located in North San Rafael, the property is only 15 miles from San Francisco and the East Bay. It offers excellent Highway 101 access with public transportation including the new SMART train, which is within walking distance.
Nearby retailers and commercial services include Northgate Mall (the only indoor mall in Marin County), Northgate 2, Northgate 3, Marin County Civic Center and other local amenities and services.
About Meridian Commercial
Meridian Commercial is a locally owned real estate services firm dedicated to strengthening the economy through encouraging and advocating transactions that work for all parties. Located in San Rafael and Petaluma, California, Meridian Commercial real estate advisory serves clients in the leasing, sales and management, of light industrial, office retail and multifamily investment properties in Marin and Sonoma Counties. Founded in 2009, Meridian Commercial has 10 full-time advisors and two property managers.