Grocery-Anchored Shopping
For Sale
Contact for pricing
1201 PINER RD, Santa Rosa, CA 95403
Two-building commercial property combines fully leased retail space with an education component and established occupants.
Property Size110,761 SF
Price / SF$152.58
Days on Market8
Property Features for 1201 PINER RD
General Information
Standard status
Active
Size
110,761 SF
Property subtype
Retail
Occupancy
96%
Additional Details
Cap Rate
8%
Anchor Co-Tenants
Harbor Freight
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Cushman & Wakefield - Sacramento, California
Listed By:
Rick Ryan · License #CA 01440204
(916) 633-0501
Source:
Crexi
Added: Sep 10
Changed: Sep 16
Last Checked: Sep 16 at 2:19PM
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 Cushman & Wakefield - Sacramento, California
Investment Insights
Based on property information with market context.
Palm Square is a two-building shopping center totaling 110,761 SF, with retail and education uses integrated within the property. Overall occupancy is 96.4%. Building A contains 55,000 SF and is fully leased to three retail tenants, including Harbor Freight, which ranks #1 in California according to the provided property information. Building B contains 55,761 SF and is leased to two schools, with one space currently available.
The asset can be acquired as a single offering, while the retail and education buildings may also be considered individually. Tenancy includes a Hispanic grocer, Harbor Freight, and established schools, providing a mix of retail and institutional occupancy. The property is located at 1201 Piner Rd in Santa Rosa, California, and is offered at an 8.0% cap rate.
The asset can be acquired as a single offering, while the retail and education buildings may also be considered individually. Tenancy includes a Hispanic grocer, Harbor Freight, and established schools, providing a mix of retail and institutional occupancy. The property is located at 1201 Piner Rd in Santa Rosa, California, and is offered at an 8.0% cap rate.
Key Highlights
- 110,761 SF two‑building grocery‑anchored retail and education property
- 96.4% leased overall
- 55,000 SF retail building is 100% leased to three tenants
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
$1,206,217
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
7.14%
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%
$24,124,340
$24.1M
Cap Rate 7%
$17,231,671
$17.2M
Cap Rate 9%
$13,402,411
$13.4M
Market Conditions
NOI Build-Up for 110,761 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
$1.89M $17.04/SF
− Vacancy
−$164.2K −$1.48/SF
EGI
$1.72M $15.56/SF
− OpEx
−$516.9K −$4.67/SF
NOI
$1.21M $10.89/SF
Area
Santa Rosa, CA
Vacancy
8.70%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$24,124,340
Cap Rate 7%
$17,231,671
Cap Rate 9%
$13,402,411
Alternative Uses
Best Use
Retail
$17.23M
$15.08M – $20.10M
NOI $1,206,217 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$30.77M
$26.93M – $35.90M
NOI $2,154,091 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
96.4%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,488
Businesses Nearby
224k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 24%
Groceries 22%
Home Improvements & Furnishings 10%
Trader Joe's
Groceries
47,249 visits/mo
0.4 miles
Starbucks
Dining
27,425 visits/mo
0.5 miles
Jo-Ann Fabric and Craft
Shops & Services
22,653 visits/mo
0.3 miles
Harbor Freight Tools
Home Improvements & Furnishings
21,546 visits/mo
0.1 miles
Dollar Tree
Shops & Services
17,810 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Rosewood Village — 3080 Marlow Rd, Santa Rosa, CA 95403
- Cleveland Square — 3401 Cleveland Ave, Santa Rosa, CA 95403
Frequently Asked Questions
What type of property is this?
Shopping center - Two-building commercial property combines fully leased retail space with an education component and established occupants.
Where is this shopping center located?
The property is located at 1201 PINER RD Santa Rosa, CA.
What is the asking price?
The asking price for this property is $16,900,000.
What are key features of this property?
This property features: 110,761 SF two‑building grocery‑anchored retail and education property; 96.4% leased overall; 55,000 SF retail building is 100% leased to three tenants
