316-318 Miller Ave
Mill Valley, CA 94941
Retail Property For Sale

Please contact the exclusive listing agent, Jon Holmquist, for additional information and the complete offering memorandum. The subject property is well known to residents of Mill Valley for its high visibility location and unique English Tutor architecture and charm. The property was designed and built by Loyal Davis, a prominent architect and owner of Loyal Homes, who used the property as his central architectural office for many decades and thus took great care in the property's original construction. The steeply pitched composite roofs, and a large brick patio leading to the main entryway at street level give a grand and superior ambiance and feeling to the building that cannot be matched by most other nearby structures. The attractive construction style is reminiscent of Hansel and Gretel, with high-end brick work that was painstakingly completed with great attention to detail. The offering is being sold by the family of the original developer, for the first time since it was constructed nearly 57 years ago. The subject property benefits from high traffic frontage on Miller Avenue which leads to downtown Mill Valley, CA and thus several tenants have stayed at the property in excess of fifteen years. The offering is currently operated as a mixed-use office and residential property with the large front two story building rented to office tenants, and the rear building rented to two separate residential tenants. The front building contains seven different commercial/office suites which are currently leased to several dentist tenants, an educational tutoring company, and is partially occupied by the current owner as her real estate office. There have been a series of dentists that occupied the property as tenants for in excess of a decade, and other past tenants, or ideal uses of the front office are: Law Offices, Insurance Agency, Real Estate Office, Medical Office, Massage, and Educational Classes. This building is perfect for an owner user looking for high visibility. The second rear building has a large and spacious outdoor deck and contains a large three-bedroom/one bath residential unit upstairs, and a spacious studio downstairs. Nearly all tenants are long term occupants of the building, and each pay their own garbage and PG&E, with only one common area light that is $30 per month being billed to the owner. This offering represents a great opportunity for an owner user with potential for multiple different configurations of the various suites and residential spaces. Alternatively, a proactive investor may capitalize on the long-term tenants and rental upside to acquire an absolutely prime, low maintenance asset, in a high demand area.