1200-1250 BRIDGEWAY

1200-1250 BRIDGEWAY
SAUSALITO, CA
RESTAURANT OPERATOR
OWNER-USER
INVESTOR
DEVELOPER
OPPORTUNITY
33 New Montgomery Street, Suite 1230 • San Francisco, CA 94105 • 415.765.6900 • www.starboardnet.com
1200-1250
BRIDGEWAY
SAUSALITO, CA
CONTACT INFORMATION
Exclusively Listed By:
Susan Jordan
Broker Associate
Investment Sales & Leasing
415.477.84541
[email protected]
Starboard TCN Worldwide
33 New Montgomery, Suite1230
San Francisco, CA 94105
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction
1200-1250
BRIDGEWAY
SAUSALITO, CA
EXECUTIVE SUMMARY
LOCATION....................................................1200-1250 Bridgeway, Sausalito, California
PARCEL NUMBER................................................................................APN 065-034-01
LAND AREA ................................................................................±38,600 SF (.89 acre)
IMPROVEMENTS .........................................................7952 GLA (Gross Leasable Area)
Building One Paradise Bay Restaurant.............................................................±6,800 SF
Building Two North Point Café......................................................................±1,152 SF
PARKING...................................................................................................75 Spaces
YEAR BUILT.......................................................................................................1950
LATEST RENOVATION..................................................................................Year 2004
PURCHASE PRICE .....................................................................................$6,500,000
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction
1200-1250
BRIDGEWAY
SAUSALITO, CA
PROPERTY DESCRIPTION
INVESTMENT OVERVIEW
The subject property (“Property”) offers a rare opportunity for an investor to acquire waterfront property in
the prestigious city of Sausalito, CA. The parcel includes approximately 38,600 square feet (.89 acre) of
prime real estate. The intrinsic value of this property is inherent in the fact that commercial properties for
sale in Sausalito are rare and secondly, Sausalito maintains one of the highest property values in the
nation due to its location.
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Rare and one of a kind waterfront property
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Spectacular views of San Francisco and the Bay
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Rare opportunity to own full waterfront city block
The property has excellent frontage along Bridgeway, the main thoroughfare through Sausalito, and is
minutes from both the Ferry Building and Highway 101. The property benefits from high traffic counts
through mandatory access to Highway 101 and from high pedestrian traffic due to its proximity to the
waterfront shopping area, marinas and park.
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One of the only properties in Sausalito with its own parking
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Excellent frontage along Bridgeway, the main boulevard through town
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction
1200-1250
BRIDGEWAY
SAUSALITO, CA
POTENTIAL INVESTMENT SCENARIOS
This unique property has several excellent investment options:
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100% leased investment purchase with the option to develop additional building improvements.
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Purchase of existing business opportunities with or without the property.
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Flexibility to split existing property into two parcels for purchase with or without business
opportunities for future sale.
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Seller financing available
BUILDING IMPROVEMENTS & TENANT OVERVIEW
The property includes two building improvements with recent renovations completed in 2004. The buildings
are permitted for restaurant use and are occupied by separate tenants that both operate highly popular
restaurant destinations.
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction
1200-1250
BRIDGEWAY
SAUSALITO, CA
ZONING MAP
Subject Property
COMMERCIAL WATERFRONT (CW)
To protect the waterfront area, while promoting uses that benefit from and need a waterfront location.
* Source: City of Sausalito Planning Department http://www.ci.sausalito.ca.us/Index.aspx?page=38
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction
1200-1250
BRIDGEWAY
SAUSALITO, CA
PROPERTY PHOTOS
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction
1200-1250
BRIDGEWAY
SAUSALITO, CA
TENANTS OVERVIEW
PARADISE BAY RESTAURANT
Paradise Bay occupies 6,800 SF of building improvements, including 6,000 SF restaurant, 500 SF
mezzanine office space and 300 SF outdoor patio and bar overlooking the water. This tenant’s lease also
includes approximately 65 private parking spaces.
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction
1200-1250
BRIDGEWAY
SAUSALITO, CA
NORTH POINT CAFÉ
North Point Cafe occupies an 1,150 SF building improvement with an outdoor, waterfront patio of
approximately 1,600 SF and includes approximately 9 private parking spaces.
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction
1200-1250
BRIDGEWAY
SAUSALITO, CA
LOCATION OVERVIEW
SAUSALITO, CALIFORNIA
Sausalito is a prestigious waterfront community that lies across the Golden Gate Bridge from San Francisco.
Sausalito is often compared to a Mediterranean fishing village because its hillside homes have stunning
views of Alcatraz and the San Francisco cityscape. It is located on the southeastern tip of Marin County,
approximately 10 miles north of San Francisco and off Highway 101. Encompassing 1.9 square miles of
land and 0.3 square miles of surface water, Sausalito is situated between three bridges: the Golden Gate
Bridge which accesses San Francisco, the Richmond Bridge, which accesses the North Bay and the Bay
Bridge, accessing the East Bay.
Sausalito is considered to be an upscale tourist Mecca that boasts art galleries, unique boutiques, and an
esplanade and waterfront for strolling. In addition, it offers splendid restaurants that offer world class cuisine
with stunning waterfront views. Other highlights of Sausalito include:
• Walking Tours
• Marina and boat charter
• Kayak rentals
• Sausalito Art Festival
• Floating Home Tours
• Yacht Parade
• Sausalito Street Festival
• Bay Area Discovery Museum
• Hikes to Mount Tamalpais and Muir Woods
Sausalito has a population of 7,330. The City’s economic initiative is to promote and enhance economic
viability of all commercial areas throughout the City, while continuing to recognize residential needs, by
establishing distinct commercial districts that preserve the variety of uses serving residents and visitors. The
City of Sausalito assists prospective new businesses and attracts local and regional companies by providing
information on sites/facilities, demographics, resources and governmental services. The City of Sausalito is
also careful to preserve its one of a kind community and encourages and attracts unique retail businesses
and restaurants.
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction
1200-1250
BRIDGEWAY
SAUSALITO, CA
Renowned Art Galleries
Sausalito is home to the number one art festival in the nation – The Sausalito Art Festival. The city has long
been a haven of art and culture, featuring Artists Open Studios, Opera by the Bay and several world-class
art galleries.
World Class Cuisine
The City of Sausalito boasts waterfront dining with some of the best views of the San Francisco bay and
skyline. Scoma’s Restaurant is renowned for serving the freshest seafood in the San Francisco Bay area and
is a destination for locals, visitors and tourists. Gaylord India Restaurant is acclaimed as among the top ten
Indian restaurants in the world.
Spas and Hotels
Sausalito’s most famous hotel is nestled in the hillside and offers spectacular views of the water. Casa
Madrona was originally constructed in 1885 as a Victorian House and in 1980 was entered into the
National Register of Historical Places. Each room for accommodation has its own theme: Lilac and Lace,
Renoir and the Artist’s Loft. This famous Bed and Breakfast is the epitome of luxury for visitors and tourists
alike.
Waterfront Boutique Shopping
Sausalito is best known for its waterfront esplanade of unique shops and boutiques. Sausalito boasts some
of the most unique shopping around the world. Up and down Bridgeway and along the other connecting
streets lies boutiques that offer exquisite clothing for men, women and children, that most special gift, fine
jewelry and custom art pieces.
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction
1200-1250
BRIDGEWAY
SAUSALITO, CA
AREA MAP
1200-1250 BRIDGEWAY
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The information has been secured by Starboard TCN from sources believed to be reliable. It is not guaranteed, however, and should be verified prior to consummating any transaction