Marin County · CA
Commercial Real Estate in San Rafael
San Rafael is the county seat and commercial center of Marin, carrying the county's largest concentration of office space and its most active downtown.
San Rafael holds Marin County's deepest office market, spread between a walkable downtown around Fourth Street and the Northgate and Terra Linda areas to the north. It is also the county's civic center, which sustains professional-services demand — legal, financial, medical — that other Marin cities do not carry at the same scale.
Industrial and flex inventory is comparatively limited and concentrated in the Canal district and along Francisco Boulevard, where it commands a premium relative to Sonoma County product because so little of it exists.
Key San Rafael commercial corridors: Downtown / Fourth Street · Northgate · Terra Linda · Canal District · Francisco 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 San Rafael comparables call 707-591-0570 or request a market briefing. All figures should be independently verified before use in a transaction.
Recently Sold in San Rafael
Closed San Rafael sale transactions will appear here as they are recorded. Ask us for recent comparables in the meantime.
Recently Leased in San Rafael
Completed San Rafael lease transactions will appear here as they are recorded.
Common Questions
San Rafael Commercial Real Estate FAQ
Is there commercial office space in San Rafael?
San Rafael carries Marin County's largest office inventory, concentrated downtown around Fourth Street and in the Northgate and Terra Linda areas. It ranges from walkable downtown suites to suburban office and medical office product.
How does San Rafael pricing compare to Sonoma County?
San Rafael generally prices above comparable Sonoma County space, particularly for industrial and flex product, because Marin has far less of it. Operators who can locate either side of the county line often compare a San Rafael requirement against Novato or Petaluma for that reason.