2001-2009 Bridgeway

Description

Rare Sausalito Investment Opportunity!

2001-2009 Bridgeway OR 2007/2009 Bridgeway

BridgewayTreasures.com

A Sausalito Landmark with Three Trophy Buildings, Three Parcels & Beloved Restaurant OR One Parcel -2007/2009, the Restaurant Business & Building ONLY– For Sale!

All Three Offered at $3,497,000 

or One Parcel – 2007/2009 offered at $2,200,000 including business/inventory

Three highly visible buildings with an established business on three separate parcels – together OR one building, restaurant business! An amazing opportunity for investors, developers or owner/user!  This property is in a hugely popular tourist destination, with super support from the local residential community. The sellers are extremely loved in the community and goodwill is considerable for a new owner. 

2007 - 2009 Bridgeway - APN 064-135-29 Commercial Restaurant NC-1. FOR SALE SEPARATELY – Offered at $2,200,000 – Includes iconic local Restaurant business, inventory, real estate & liquor license.  Originally a four story hotel that burned in the 40's, this iconic building has been the site for two beloved restaurants - in the 80's - early 2000's Guernica, a French Basque restaurant owned by the Scoma family, and most recently the famous Saylor's Bar and restaurant, winning many local awards for best Margaritas, Business of the year and Best Mexican Restaurant in Marin and even Best Marin Bartender! After over 25 years, the owners of this Sausalito Treasure are retiring. This is an amazing opportunity! The restaurant with its amenities can be included in the sale, as well as the full liquor license.. According to the Wall Street Journal Restaurants are the Unlikely New Real-Estate Darling. Check out the article here.

2005 Bridgeway - APN 064-135-26 Zoned Neighborhood Commercial NC-1. This  Craftsman cottage (also built in 1920) is currently used as a residential property with a large finished storage area below. It has previously been a hair salon & chiropractors office. This 2BR (including converted attic) building has been significantly remodeled/updated with open kitchen, hardwood floors, remodeled bathroom and has front and back porches. The lower floor has been used for storage and has had small kitchen and bathroom added (unpermitted).  New tenant has a one year lease term through February 2025 @ $3250/mo. (Photos have been virtually staged).

2001-2003 Bridgeway - APN 064-135-01 Zoned Mixed-use Commercial. This turn of the century two-story, mixed-use building (built in 1920) and completely renovated in 2014 anchors the corner of Spring/Bridgeway with high visibility.  Long term tenants have leases through October 2024 for a luxury real estate office on the first floor and remodeled 2BR residence above.  2001 Bridgeway: Approximate 850 sq. ft. of prime accessible commercial space with white oak floors, AC, full kitchen & conference room, leased for $3024/mo.  2003 Bridgeway is accessed from the shared parking lot, up one flight of stairs. Remodeled in 2014 with an open concept kitchen, full size washer/dryer, 2BR/1 BA, 2 balconies and large finished attic, leased for $4888/mo.  Photos of the residence (2003) have been virtually staged. This building also has a large basement/storage room accessed from the parking lot that is shared with the restaurant and the commercial tenant.

All three parcels currently share a large parking lot (11 spaces) behind the properties. If restaurant parcel sells separately, the owner is willing to grant a parking easement for restaurant parking, during their ownership. There is abundant street parking that does not require a permit. Each of the units (2001, 2003 & 2005) are currently occupied with long term tenants. All tenants, except for the retiring restaurant owner in 2007/2009, wish to remain and are willing to sign new leases. Current rents are outlined above and total $10,362.00/mo. for the 3 units.

The property may be developed for other use, subject to use permit. Currently zoned Neighborhood Commercial (NC-1) and possibly other use, grandfathered in. It would be ideal for a new restaurant owner/operator to take over the existing restaurant business. Present owners do not operate for breakfast or lunch and are open 6 days a week for dinner only. Huge upside potential for big increase of income here. The restaurant has a full liquor license that will be negotiated with the sale. This property is located in a hugely popular tourist destination, with super support from the local residential community. The Sellers are beloved in the community and goodwill is considerable for a new owner. Much of the staff would like to stay and support the new owner...

Sausalito, California is an iconic town only a few miles north of San Francisco and across the Golden Gate Bridge. Long a home to artists and a bohemian lifestyle, along with a vibrant waterfront with boating, kayaking and other water activities, the town is a highly desirable destination! Tripadvisor names it one of the top destinations in the World, year after year!  Check out the article here.

Great opportunity for several buyer profiles: 

Passive Investor looking for an income producing property;

Owner/User who is looking to take over restaurant w/income from other 3 units; or just purchase 2007/2009 Bridgeway, business and have no landlord.

Developer! Housing? Hotel?

Seller financing is available. 

This rare offering is represented by First California Realty, Inc. owners, Sherrie & Dane Faber. The Faber’s are also the tenants in 2001 Bridgeway and welcome the opportunity to continue their occupancy.

A Disclosure Package is available upon request. Please contact Sherrie Faber @ 415.339.9200 to request a private showing. All showings require 24 hrs notice, after review of disclosures and signed confidentiality  agreement. This is an As Is sale. 

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