Mill Valley Mixed-Use Building Sells for $1.655MM

MILL VALLEY, CA, April 25, 2017 – 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 a 3,170-square foot mixed-use property located in Mill Valley, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $1,655,000.

The buyer, a partnership, was secured and represented by Erich Reichenbach, an investment specialist in Marcus & Millichap’s San Francisco office.

The subject property is located at 154 Almonte Boulevard in Mill Valley, a unique opportunity with a single-family home and a fully leased commercial building on one parcel. Located in highly desirable Mill Valley with easy access from Miller Avenue and Tam Valley. The property is located only 15 minutes from San Francisco and the East Bay with convenient Highway 101 access in addition to public transportation.

The mixed-use property included a commercial building and a residential building. The commercial space is approximately 2,005 square feet and has been continuously operating as relaxation spa for over 15+ years. The current operator is Simply Inspired Spa who provides massage services, outdoor private hot tub rentals and saunas. The sale also included a single-family home residence.

About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing 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 9,000 transactions in 2016 with a value of approximately $42.3 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

West Coast Commercial Real Estate News