Santa Rosa Office Building For
For Sale
$585,000
145 Wikiup, Santa Rosa, CA 95403
Two-story office building with modern upgrades and ample parking.
Property Size1,916 SF
Price / SF$305.32
Days on Market483
Property Features for 145 Wikiup
General Information
Standard status
Active
Size
1,916 SF
Building Details
Year Built
1977
Listing Agency:
FOWLER ASSOCIATES
4330405
Listed By:
TERRY O FOWLER
Source:
Corcoran
Added: May 6, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:08AM
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 FOWLER ASSOCIATES
Investment Insights
Based on property information with market context.
This two-story office building is located off Old Redwood Highway near Larkfield. The building features four offices, a copy room, and two conference rooms, one of which can be divided to create two additional large offices. Each level has a bathroom, and there is also a kitchenette. Recent upgrades include new paint, carpet, HVAC, and dual-pane windows. Window coverings are included. The property is situated on a landscaped half-acre lot with mature trees and a private patio. There are 12 on-site parking spaces. The building size is 1916 square feet.
Key Highlights
- Convenient location near Old Redwood Hwy and Larkfield.
- Move‑in ready with newer paint, carpet, HVAC, and dual pane windows.
- Functional layout with 4 offices, copy room, and 2 conference rooms (one divisible).
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
$27,052
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
4.62%
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%
$541,040
$541.0K
Cap Rate 7%
$386,457
$386.5K
Cap Rate 9%
$300,578
$300.6K
Market Conditions
NOI Build-Up for 1,916 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
$42.5K $22.20/SF
− Vacancy
−$6.5K −$3.37/SF
EGI
$36.1K $18.83/SF
− OpEx
−$9.0K −$4.71/SF
NOI
$27.1K $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%
$541,040
Cap Rate 7%
$386,457
Cap Rate 9%
$300,578
Alternative Uses
Best Use
Office B
$386.5K
$338.2K – $450.9K
NOI $27,052 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$532.3K
$465.8K – $621.1K
NOI $37,263 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
250
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 - Two-story office building with modern upgrades and ample parking.
Where is this office building located?
The property is located at 145 Wikiup Santa Rosa, CA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Convenient location near Old Redwood Hwy and Larkfield.; Move‑in ready with newer paint, carpet, HVAC, and dual pane windows.; Functional layout with 4 offices, copy room, and 2 conference rooms (one divisible).
