Four-Unit Upgraded Office
New
For Sale
$1,490,000
101 Wikiup Dr, Santa Rosa, CA 95403
Recently improved suites offer separate metering, flexible occupancy, and private onsite parking.
Property Size6,084 SF
Days on Market4
Property Features for 101 Wikiup Dr
General Information
Standard status
Active
Size
6,084 SF
Property subtype
Commercial
Additional Details
Office Units
4
Amenities
play structures
Building Details
Building Size
6,084 SF
Year Built
1988
Buildings
1
Stories
3
Listing Agency:
SOTHEBY'S INTERNATIONAL REALTY
(707) 235-6870
Listed By:
Todd Sheppard · License #01314350
(707) 235-6870
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 13 at 8:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
This four-suite office property provides a range of workspaces across three floors and is fully available for occupancy. The main level contains two suites of approximately 1,623 square feet each, while the upper levels include suites of about 2,178 square feet and 660 square feet. Each suite has its own meter, supporting independent occupancy and operating arrangements.
Recent improvements include new flooring, a replacement roof, five HVAC heat-pump zones, and refreshed rear landscaping with play structures. The property also includes private onsite parking. Built in 1988, the building can accommodate an owner-user, multiple office occupants, or a combination of the two.
Recent improvements include new flooring, a replacement roof, five HVAC heat-pump zones, and refreshed rear landscaping with play structures. The property also includes private onsite parking. Built in 1988, the building can accommodate an owner-user, multiple office occupants, or a combination of the two.
Key Highlights
- Four‑suite office building available for occupancy
- Main‑floor suites measure approximately 1,623 square feet each
- Upper‑floor suites measure about 2,178 square feet and 660 square feet
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
$85,901
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
5.77%
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%
$1,718,020
$1.7M
Cap Rate 7%
$1,227,157
$1.2M
Cap Rate 9%
$954,456
$954.5K
Market Conditions
NOI Build-Up for 6,084 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
$135.1K $22.20/SF
− Vacancy
−$20.5K −$3.37/SF
EGI
$114.5K $18.83/SF
− OpEx
−$28.6K −$4.71/SF
NOI
$85.9K $14.12/SF
Area
Santa Rosa, CA
Vacancy
15.20%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,718,020
Cap Rate 7%
$1,227,157
Cap Rate 9%
$954,456
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,901 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.69M
$1.48M – $1.97M
NOI $118,322 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Explore this area
Business Placement
Demographics for 95403, CA
44,705
Population
17,504
Households
2.6
Avg Household Size
39
Median Age
27%
College-Educated
87%
High-School Grad
21.5 sq mi
ZIP Area
2,079
Density / Sq Mi
$94,480
Median Household Income
$45,928
Median Earnings
$2,215
Median Rent
$651,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Recently improved suites offer separate metering, flexible occupancy, and private onsite parking.
Where is this office building located?
The property is located at 101 Wikiup Dr Santa Rosa, CA.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Four‑suite office building available for occupancy; Main‑floor suites measure approximately 1,623 square feet each; Upper‑floor suites measure about 2,178 square feet and 660 square feet
