270 Miller Ave
4,800 SF Office Building Mill Valley, CA 94941 $3,800,000 ($792/SF) 8.05% Cap Rate
![270 Miller Ave, Mill Valley, CA for sale - Primary Photo - Image 1 of 27](https://images1.loopnet.com/i2/qGpedaHGuorJ6zAn_cVvkYoE3MlgcNrny_J9jwhDuHc/110/270-Miller-Ave-Mill-Valley-CA-Primary-Photo-1-Large.jpg)
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![](https://images1.loopnet.com/i2/A2HKVWSJwobp06MYGVkxTCBpjgfyPcOcywJBFhaDQt0/110/270-Miller-Ave-Mill-Valley-CA-Interior-Photo-19-Large.jpg)
EXECUTIVE SUMMARY
270 Miller Avenue presents a rare, single tenant NNN leased investment opportunity in the heart of Mill Valley. This cash-flowing asset generates $306,000 in annual net operating income, offering investors an 8.1% cap rate with built-in growth through 2% annual rent escalations. The property is secured by a long-term lease with 18 years remaining on a 25-year lease, providing exceptional income stability. Located along highly desirable Miller Avenue, the property benefits from strong frontage, excellent visibility, and proximity to downtown Mill Valley’s retail, dining, and lifestyle amenities. With recent renovations and flexible RM-P zoning, 270 Miller Avenue is a high-quality, low-maintenance investment in a premier market.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Office/Residential
Building Size
4,800 SF
Building Class
A
Year Built/Renovated
1947/2019
Price
$3,800,000
Price Per SF
$792
Cap Rate
8.05%
NOI
$306,000
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
4,800 SF
Building FAR
0.13
Lot Size
0.83 AC
Zoning
RM-P - RM-P (Multiple Family, Miller Avenue Parkway District)
General Plan land use category of MFR-1 (Multi-Family Residential – 1).
Parking
9 Spaces (1.88 Spaces per 1,000 SF Leased)
AMENITIES
- Atrium
- Signage
- Reception
- Atrium
- Reception
- Hardwood Floors
Walk Score®
Very Walkable (86)
PROPERTY TAXES
Parcel Numbers | Improvements Assessment | $945,000 | |
Land Assessment | $2,695,000 | Total Assessment | $3,640,000 |