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8 Circle Road, San Rafael, CA 94903, San Rafael, 94903 - 7 bed, 5 bath

8 Circle Road, San Rafael, CA 94903 home-pic-0
ACTIVE$5,250,000$8,192/sqft
8 Circle Road, San Rafael, CA 94903
7Beds
5Baths
8,192Sqft
49,998Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 49998, living area = 8192.
Top Cons:
Single Tenant Risk: Reliance on a single commercial tenant for all income introduces a higher risk profile compared to multi-tenant properties, should the tenant default or vacate.

Compared to the nearby listings

Price:$5.25M vs avg $1.33M (+$3,920,000)98%
Size:8,192 sqft vs avg 1,818 sqft99%
Price/sqft:$641 vs avg $76527%

More Insights

Built in 1999 (27 years old).
Condition: Built in 1999, this property is well-maintained and functional, but the kitchens and bathrooms show signs of being outdated. The main kitchen features light wood cabinets and solid surface countertops, consistent with its era, while a secondary kitchen has tiled countertops and older white appliances. Bathrooms also feature light wood vanities and tiled surfaces, reflecting a style from 15-25 years ago. While move-in ready, the property has not undergone extensive modern renovations, placing it in the 'fair' category where major components are functional but show signs of being outdated.
Year Built
1999
Close
-
List price
$5.25M
Original List price
-
Price/Sqft
$641
HOA
$0
Days on market
-
Sold On
-
MLS number
325098886
Home ConditionFair
Features
Good View:
Pool
Patio
View-

About this home

This exclusive Marin County single-tenant offering delivers secure, predictable cash flow backed by a long-term lease and minimal management requirements. At an asking price of $5,250,000, the investment produces a strong 6.04 cap rate based on actual NOI, positioning it as a compelling value opportunity in one of the Bay Area's most supply-constrained markets. Single-family residence with a long-term commercial tenant in place (10-year lease). The tenant recently renewed through 2035, demonstrating stability and commitment to the site. Annual rent increases provide built-in, inflation-protected income growth. With a Modified NNN lease, the tenant covers nearly all operating expenses, leaving the landlord responsible only for property taxes and structural items. This low-maintenance structure, combined with a current NOI of $317,015, makes the asset ideal for 1031 exchange buyers, private investors, and those seeking stable long-term cash flow with minimal oversight. Offering a rare blend of location, yield, and long-term stability, this Marin County asset stands out as one of the few opportunities delivering both quality and cash flow in today's market.

P
Paul Cingolani
Listing Agent

Nearby schools

8/10
Sun Valley Elementary School
Public,•K-5•0.8mi
7/10
Vallecito Elementary School
Public,•K-5•1.1mi
5/10
Coleman Elementary School
Public,•K-5•1.4mi
7/10
Mary E. Silveira Elementary School
Public,•K-5•3.1mi
9/10
Dixie Elementary School
Public,•K-5•3.2mi
4/10
Venetia Valley Elementary School
Public,•K-8•1.0mi
5/10
James B. Davidson Middle School
Public,•6-8•2.0mi
6/10
Miller Creek Middle School
Public,•6-8•2.6mi
6/10
Terra Linda High School
Public,•9-12•0.8mi
5/10
San Rafael High School
Public,•9-12•2.1mi

Price History

Date
Event
Price
11/26/97
Sold
$500,000
07/15/04
Sold
$1,770,000
Condition Rating
Fair
Built in 1999, this property is well-maintained and functional, but the kitchens and bathrooms show signs of being outdated. The main kitchen features light wood cabinets and solid surface countertops, consistent with its era, while a secondary kitchen has tiled countertops and older white appliances. Bathrooms also feature light wood vanities and tiled surfaces, reflecting a style from 15-25 years ago. While move-in ready, the property has not undergone extensive modern renovations, placing it in the 'fair' category where major components are functional but show signs of being outdated.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 49998, living area = 8192.
Great Schools: Elementary School: Dixie Elementary School (9/10).
Secure Long-Term Cash Flow: The property offers secure and predictable cash flow backed by a long-term commercial lease, with the tenant recently renewing through 2035.
Attractive Investment Metrics: Priced at $5,250,000, it yields a strong 6.04% cap rate based on an actual Net Operating Income (NOI) of $317,015, positioning it as a compelling value opportunity.
Inflation-Protected Income: The lease includes built-in annual rent increases, providing inflation-protected income growth for the investor.
Minimal Landlord Management: A Modified NNN lease structure means the tenant covers nearly all operating expenses, significantly reducing landlord responsibilities and management requirements.
Prime Marin County Location: Located in Marin County, a highly desirable and supply-constrained market in the Bay Area, enhancing the asset's long-term value and stability.

Cons

Single Tenant Risk: Reliance on a single commercial tenant for all income introduces a higher risk profile compared to multi-tenant properties, should the tenant default or vacate.
High Entry Price Point: The asking price of $5,250,000 is substantial, which may limit the pool of potential buyers and require significant capital investment.
Potential for Non-Traditional Use/Zoning: Described as a 'single-family residence with a long-term commercial tenant,' this unique setup might present complexities for future re-tenanting or resale if the commercial use is highly specialized or requires specific zoning considerations.
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