Four-Unit Upgraded Office
New
For Sale
$1,490,000
101 Wikiup, Santa Rosa, CA 95403
Separately metered suites support owner-user occupancy or leasing individual office spaces.
Property Size6,084 SF
Price / SF$244.90
Days on Market4
Property Features for 101 Wikiup
General Information
Standard status
Active
Size
6,084 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Office Units
4
Amenities
play structures
Central air
Sidewalk
Central Cooling
Composition Roof
Corner
Heat Pump Heating
Landscape Back
Landscape Front
Low Maintenance
Multi Zone Cooling
Multi Zone Heating
Building Details
Year Built
1988
Buildings
1
Stories
3
Tenancy
Multi
Owner Occupied
No
Listing Agency:
SOTHEBY'S INTERNATIONAL REALTY
9352288
Listed By:
TODD SHEPPARD · License #01314350
Source:
Corcoran
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 13 at 1:59AM
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 6,084-square-foot office building contains four separately metered suites arranged across the main, second, and third floors. The main level includes two suites of approximately 1,623 square feet each; the second-floor suite measures about 2,178 square feet, and the third-floor suite is approximately 660 square feet. Recent improvements include new flooring, a new roof, five zones of HVAC heat pumps, and rear landscaping with play structures.
Located at 101 Wikiup in Santa Rosa, the property offers private onsite parking and is fully available. Its four-suite configuration accommodates an owner-user seeking dedicated space or an operator planning to lease individual suites.
Located at 101 Wikiup in Santa Rosa, the property offers private onsite parking and is fully available. Its four-suite configuration accommodates an owner-user seeking dedicated space or an operator planning to lease individual suites.
Key Highlights
- 6,084‑square‑foot office building with four separately metered suites
- Main floor has two suites, each approximately 1623 square feet
- Second‑floor suite is about 2178 square feet; third‑floor suite is approximately 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
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
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 - Separately metered suites support owner-user occupancy or leasing individual office spaces.
Where is this office building located?
The property is located at 101 Wikiup 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: 6,084‑square‑foot office building with four separately metered suites; Main floor has two suites, each approximately 1623 square feet; Second‑floor suite is about 2178 square feet; third‑floor suite is approximately 660 square feet
