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    Versatile Mixed-Use Building in Santa Rosa Title is generated by Realmo AI

    145 3rd Street, Santa Rosa, CA 95401

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    Claim this Listing
    For Sale
    $3,999,999

    Mixed Use - Santa Rosa, CA

    Type:Mixed Use
    Property size:
    14,525 SF
    Lot size:
    0.39 Acres
    Price / SF:
    $275/SF
    Added:
    Apr 29, 2026
    Days on Market:
    37
    Last Refresh:
    Jun 4 at 11:06 am

    Property Features for 145 3rd Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Parking
    24
    Standard status
    Active
    APN
    010-075-012-000
    Size
    14,525 SF
    Lot size
    0.39 Acres

    Building Details

    Year built
    1990
    Floors in Building
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    Lenore Coronado

    Listing agent Lenore Coronado License #01371042

    Listing office eXp Realty of California, Inc 2603 Camino Ramon #200, San Ramon, CA

    Listing date Apr 29, 2026

    MLS# 326002092 Listing URL

    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.

    HighLights

    • Prime location in Historic Railroad Square with high visibility and easy access to Hwy 101.
    • Flexible space: Can function as one large operation or be divided into up to three tenant spaces.
    • Valuable on‑site, gated parking included.
    • Zoned SMU (Station Mixed Use) in a historic district with strong foot traffic.
    • 15,000+ sq ft building with prominent frontage and windows on Third and Davis Streets.
    • Warehouse/storage area with roll‑up door for small truck access.

    Overview

    Located in the heart of Historic Railroad Square in downtown Santa Rosa, this mixed-use property offers high visibility and convenient access near Highway 101. The location is surrounded by restaurants, shops, hotels, and the SMART Train. The property includes two parcels: one with the building and a gated parcel for on-site parking. The building provides over 15,000 square feet with frontage and windows on Third Street and Davis Street. Currently configured for retail, storage, and office use, the space can operate as one large unit or be divided into up to three tenant spaces. The warehouse/storage area includes a roll-up door suitable for small truck access. The office area features three private offices, two conference rooms, stock/storage areas, and a main reception area. Common areas provide a lunch/break space, restrooms, and additional storage. The retail component is an open space suitable for a showroom. Zoned SMU (Station Mixed Use) and located within a historic district, the property benefits from foot traffic, proximity to hotels with conference facilities, and walkability to downtown Santa Rosa and the downtown mall. The lot size is 0.3857 acres.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $322.5k $22.20
    − Vacancy −$49.0k −$3.37
    EGI $273.4k $18.83
    − OpEx −$68.4k −$4.71
    NOI $205.1k $14.12
    14,525 SF · lease $22.20/SF/yr · vacancy 15.20% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $2.93M
    $2.56M – $3.42M (±1% cap)
    NOI $205,081 @ 7.0% cap · market cap 5.13%
    Second Best
    Warehouse
    $2.60M
    $2.27M – $3.03M (±1% cap)
    NOI $181,863 @ 7.0% cap · market cap 4.55%
    Theoretical Best
    Multifamily LT 5
    $4.04M
    $3.53M – $4.71M (±1% cap)
    NOI $282,484 @ 7.0% cap · market cap 7.06%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sole Desire Shoes Clothing & Fashion Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa
    County
    Sonoma
    State
    California
    Longitude
    -122.7192123
    Latitude
    38.4371746

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    FAQs

    What type of property is this?
    Mixed-use property - Prime mixed-use property in downtown Santa Rosa's Historic Railroad Square.
    Where is this mixed-use property located?
    The property is located at 145 3rd Street Santa Rosa, CA.
    What is the asking price?
    The asking price for this property is $3,999,999.
    What are key features of this property?
    This property features: Prime location in Historic Railroad Square with high visibility and easy access to Hwy 101.; Flexible space: Can function as one large operation or be divided into up to three tenant spaces.; Valuable on‑site, gated parking included.
    (707) 583-9433
    We can help!
    Listing Contact
    Lenore Coronado
    Real Estate License ID: 01371042
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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