1251 S Eliseo Dr Greenbrae-Sale-WUPimages1.loopnet.com/d2/9d-UIAud-kAMUTIpYY0Ka2bChwoQBiuvqcaB… · FOR SALE 1251 S ELISEO DR Greenbrae, CA 94904 LOCATION MAPS The information herein

Greenbrae, CA 949041251 S ELISEO DRFOR SALE

68 Mitchell Blvd., Suite 100San Rafael, CA 94903

(415) 451-4900www.meridiancommercial.com

Nick EgideBRE #01859524(415) 451- 4900 [email protected]

OFFERING SUMMARY

Property Type: Multifamily

Sale Price: $13,995,000

Number Of Beds: 34

Year Built: 1969

Building Size: ± 26,638 SF

Price / SF: $525.38

Located in the most sought after medical enclave in Marin County one block from Marin General Hospital (currently working on a $600 Millionrenovation and expansion that will further enhance the desirability of this medical community). Buildings for sale in this area are very rare.

LOCATION OVERVIEW

1251 South Eliseo Drive is a former skilled nursing facility current in need of extensive renovation.

The City of Larkspur in December 2016 issued an approval for a renovated acute care facility. This approval is still in place and allows for a muchfaster redevelopment track.

The Larkspur approval also also received preliminary approval for OSHPD Level I, with an ongoing dialogue.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Former skilled nursing facility with 43 treatment rooms

• Full kitchen and dining room facilities

• Private en suite bathrooms in all rooms

• Physical and occupational therapy rooms

• Laundry room

• Recreation area

• Tranquil park and creek-side setting

The information herein has not been independently verified by the real estate brokers. Interested parties should have experts of their choice inspect and verify all information. Real estate brokers are not experts with respect to building construction, environmental, legal, tax, and other such matters.




FOR SALE 1251 S ELISEO DRGreenbrae, CA 94904

EXECUTIVE SUMMARY






MARKET OVERVIEWMarin CountyMarin County serves primarily as a wealthy bedroom community for San Francisco andrelated Bay Area business centers. It is blessed with an excellent climate, unsurpassedscenery and recreational opportunities, low crime, and excellent schools. The county liesimmediately north of San Francisco across the Golden Gate Bridge. The county’scharacter is rural and it contains many parks, such as the Golden Gate NationalRecreation Area, Point Reyes National Seashore, and Mount Tamalpais State Park.Sonoma County to the north, the San Francisco Bay to the east, and San Francisco to thesouth, Pacific Ocean to the west border Marin County. Marin County contains anapproximate 521 square miles of which one-third is set aside for parks and open spacepreserves.

PopulationThe Bay Area has witnessed rapid growth during the last three decades and is recognizedas the fourth largest metropolitan area in the nation. The population of Marin Countyincreased from 223,400 in 1985 to 261,221 in 2014. Marin’s growth rate through the1990’s was relatively stable at approximately 0.7% annually.

Total Population Marin County

2011 2012 2013 2014253,040 254,790 255,056 261,221

IncomeMarin County is characterized by very high-income levels. While the population has grownonly slowly over the last 20 years, all indices of income have grown at a very rapid pace. Inessence, Marin County has been transformed over that period to an area of wealth andhigh disposable income. By way of example, average household income grew from$83,000 in 1990 to $91,529 in 2014. That number is expected to continuously climb.

Marin County Demographic OverviewTotal Population (2014): 261,221Population 65 and over: 20%Employed: 136,200Unemployed: 6,500

EmploymentAccording to the California State Economic and Development Department, as of February2016 Marin County’s unemployment rate was 3.2%. The unemployment rate in the SanFrancisco MSA was 5.2% in 2016. This compares with an unadjusted unemployment rateof 5.6% and 5.2% for California and for the nation during the same period.

Many research and development companies are choosing to locate or remain in Marindue to the quality of life available to the employees and the existence of more naturalenvironment, which fosters creativity. Other advantages include a much shorter and lesshectic commute to and from places of employment.

Lately, Marin has been a hot bed for pharmaceutical, biomedical and gaming companies.BioMarin, maker of orphan drugs have committed themselves further to the Marinmarket by purchasing the 350,000 square foot office project they occupy. Eighty percentof its 1,300 employees are based Marin County. In addition, the County houses the worldrenowned, Buck Center, devoted solely to research on aging and age-related diseases.The County has consistently had one of the lowest unemployment rates in the California.







LOCATION MAPS





POPULATION 1 MILE 2 MILES 3 MILES

Total population 11,428 39,788 83,274

Median age 47.2 44.8 42.1

Median age (male) 44.5 42.9 40.7

Median age (Female) 49.1 46.3 43.4

HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES

Total households 5,460 17,908 35,107

# of persons per HH 2.1 2.2 2.4

Average HH income $136,620 $143,217 $132,165

Average house value $953,965 $978,070 $953,037

* Demographic data derived from 2010 US Census


DEMOGRAPHICS MAP





Documents

1251 S Eliseo Dr Greenbrae-Sale-WUPimages1.loopnet.com/d2/9d-UIAud-kAMUTIpYY0Ka2bChwoQBiuvqcaB… · FOR SALE 1251 S ELISEO DR Greenbrae, CA 94904 LOCATION MAPS The information herein