Marin County · CA
Commercial Real Estate in Novato
Novato is northern Marin County's largest commercial market and the practical bridge between Marin and Sonoma County along US-101.
Novato carries Marin's deepest concentration of business-park, flex, and light-industrial product — inventory that is scarce elsewhere in the county. Bel Marin Keys, Hamilton, and the Ignacio corridor account for much of it, and the former Hamilton Air Force Base redevelopment added a distinctive stock of adaptive-reuse commercial space.
For operators, Novato often resolves a Marin problem: the county's southern cities have limited industrial and flex inventory and premium pricing, while Novato offers usable space with direct US-101 access and a shorter reach into Sonoma County.
Key Novato commercial corridors: Bel Marin Keys · Hamilton Landing · Ignacio Boulevard · Redwood Boulevard · Rowland Boulevard
Market Intelligence
Multifamily Market Indicators
Marin County · San Rafael — CA USA · Q2 2026 (April 1 – June 30, 2026) · Source: CoStar, as of 2026-07-17
Average Asking Rent / Unit
$2,986
Marin County multifamily
Vacancy Rate
4.2%
16,063 units of inventory
Market Sale Price / Unit
$445K
Market cap rate 4.7%
Q2 Sales Volume
$39,944,500
12 properties · 124 units
Q2 Price / Unit
$322,133
Volume ÷ units sold
Q2 Average Cap Rate
5.5%
Mean of 2 disclosed
Figures cover multifamily properties of five units or more across the Marin County market area — they are not a guide to industrial, office, or retail fundamentals, and not city-level. For asset-specific Novato comparables call 707-591-0570 or request a market briefing. All figures should be independently verified before use in a transaction.
Recently Sold in Novato
Closed Novato sale transactions will appear here as they are recorded. Ask us for recent comparables in the meantime.
Recently Leased in Novato
Completed Novato lease transactions will appear here as they are recorded.
Common Questions
Novato Commercial Real Estate FAQ
Are there multi-tenant investment buildings in Novato?
Novato has more multi-tenant office, flex, and light-industrial product than most of Marin County, concentrated around Bel Marin Keys, Hamilton Landing, and the Ignacio corridor. Availability changes; call 707-591-0570 for current and off-market opportunities.
Why do businesses choose Novato over southern Marin?
Inventory and price. Southern Marin has very limited industrial and flex space and premium pricing; Novato has usable inventory of both, direct US-101 access, and a shorter reach north into Sonoma County.