Flex Space with
For Sale
$899,995
1145 Petaluma Hill Road, Santa Rosa, CA 95404
Commercial Sale, Santa Rosa, CA
Property Size5,000 SF
Lot Size0.15 Acres
Price / SF$179
Days on Market74
Property Features for 1145 Petaluma Hill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Hwy 101 to Colgan Ave East, left on Petaluma Hill Rd, building is on the left side corner of Frazier Ave.
Subdivision
Santa Rosa-Southeast
Standard status
Active
APN
038112024000
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1945
Floors in Building
1
Flooring type
Concrete
Building materials
Block, Frame
Listing Agency:
Keller Williams Realty
(707) 708-8157
Listed By:
Christine Adams · License #02016680
(707) 322-8448
Added: Jul 1
Changed: Sep 2
Last Checked: Sep 12 at 10:06PM
MLS# 325091387
Copyright © 2026 Bay Area Real Estate Information Services, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,000 sqft flex property is arranged around a large warehouse area, supporting a combination of storage, workspace, and commercial operations. Approximately 4,000 sqft is devoted to open warehouse space with high ceilings, while about 1,000 sqft at the rear provides office and storage areas. The building also includes a designated office of approximately 355 sqft, an additional storage room, two bathrooms, and a second-story loft offering roughly 800 sqft of storage. A roll-up door and a standard garage door support access to the building, which has concrete flooring and block-and-frame construction.
The property occupies a 0.15-acre corner lot on Petaluma Hill Road in Santa Rosa. It is positioned along a main business thoroughfare near freeways and retailers including Costco, Target, and Best Buy. Public water and public sewer serve the property. The exterior has been freshly painted, and the building dates to 1945.
The property occupies a 0.15-acre corner lot on Petaluma Hill Road in Santa Rosa. It is positioned along a main business thoroughfare near freeways and retailers including Costco, Target, and Best Buy. Public water and public sewer serve the property. The exterior has been freshly painted, and the building dates to 1945.
Key Highlights
- 5,000 sqft commercial flex building on a 0.15‑acre corner lot
- Approximately 4,000 sqft of open warehouse space with high ceilings
- About 1,000 sqft of rear office and storage area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,604
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,252,080
$1.3M
Cap Rate 7%
$894,343
$894.3K
Cap Rate 9%
$695,600
$695.6K
Market Conditions
NOI Build-Up for 5,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$76.8K $15.36/SF
− Vacancy
−$3.1K −$0.63/SF
EGI
$73.7K $14.73/SF
− OpEx
−$11.0K −$2.21/SF
NOI
$62.6K $12.52/SF
Area
Santa Rosa, CA
Vacancy
4.10%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,252,080
Cap Rate 7%
$894,343
Cap Rate 9%
$695,600
Alternative Uses
Best Use
Warehouse
$894.3K
$782.6K – $1.04M
NOI $62,604 @ 7.0% cap · market cap 6.96%
Second Best
Retail
$777.9K
$680.6K – $907.5K
NOI $54,451 @ 7.0% cap · market cap 6.05%
Theoretical Best
Multifamily LT 5
$1.39M
$1.22M – $1.62M
NOI $97,241 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95404, CA
38,034
Population
16,850
Households
2.3
Avg Household Size
43
Median Age
45%
College-Educated
90%
High-School Grad
75.4 sq mi
ZIP Area
504
Density / Sq Mi
$102,802
Median Household Income
$57,388
Median Earnings
$1,890
Median Rent
$865,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Corner-lot commercial property combines open warehouse capacity with office, storage, and service-oriented building features.
Where is this flex space located?
The property is located at 1145 Petaluma Hill Road Santa Rosa, CA.
What is the asking price?
The asking price for this property is $899,995.
What are key features of this property?
This property features: 5,000 sqft commercial flex building on a 0.15‑acre corner lot; Approximately 4,000 sqft of open warehouse space with high ceilings; About 1,000 sqft of rear office and storage area
