Sprinklered Flex
New
For Sale
$2,900,000
409 Petaluma Blvd S, Petaluma, CA 94952
Multi-suite commercial property combining showroom and warehouse functionality with prominent boulevard frontage.
Property Size18,918 SF
Lot Size0.95 Acres
Days on Market4
Property Features for 409 Petaluma Blvd S
General Information
Standard status
Active
Size
18,918 SF
Lot size
0.95 Acres
Property subtype
Commercial
Additional Details
Road Access
Yes
Sprinkler System
Yes
Building Details
Building Size
18,918 SF
Year Built
1922
Listing Agency:
Keegan & Coppin Co. Petaluma
(707) 477-4396
Listed By:
Pearson Fillinger Group · License #01437146
(707) 477-4396
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 23 at 10:04AM
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 Keegan & Coppin Co. Petaluma
Investment Insights
Based on property information with market context.
Built in 1922, this Westside Petaluma flex property occupies a 0.95-acre lot along Petaluma Boulevard. The recently sprinklered building includes Suites A, B, and E, which can be combined into an approximately 11,800 SF contiguous showroom and warehouse configuration.
The property’s layout supports both showroom and warehouse use within one commercial asset. Its prominent boulevard frontage and location at 409 Petaluma Blvd S provide a visible setting, while the building’s multi-suite arrangement offers flexibility for an owner-user or investor.
The property’s layout supports both showroom and warehouse use within one commercial asset. Its prominent boulevard frontage and location at 409 Petaluma Blvd S provide a visible setting, while the building’s multi-suite arrangement offers flexibility for an owner-user or investor.
Key Highlights
- Approximately 11,800 SF contiguous showroom/warehouse configuration across Suites A, B and E
- 0.95‑acre lot with prominent Petaluma Boulevard frontage
- Recently sprinklered building
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
$172,725
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
5.96%
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%
$3,454,500
$3.5M
Cap Rate 7%
$2,467,500
$2.5M
Cap Rate 9%
$1,919,167
$1.9M
Market Conditions
NOI Build-Up for 18,918 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
$265.6K $14.04/SF
− Vacancy
−$18.9K −$1.00/SF
EGI
$246.8K $13.04/SF
− OpEx
−$74.0K −$3.91/SF
NOI
$172.7K $9.13/SF
Area
Sonoma County, CA
Vacancy
7.10%
Lease Rate
$14.04 /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%
$3,454,500
Cap Rate 7%
$2,467,500
Cap Rate 9%
$1,919,167
Alternative Uses
Best Use
Warehouse
$4.84M
$4.24M – $5.65M
NOI $338,807 @ 7.0% cap · market cap 11.68%
Second Best
Industrial
$3.99M
$3.49M – $4.65M
NOI $279,018 @ 7.0% cap · market cap 9.62%
Theoretical Best
Specialty Retail
$5.13M
$4.49M – $5.98M
NOI $358,844 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,695
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94952, CA
33,619
Population
14,794
Households
2.3
Avg Household Size
45
Median Age
47%
College-Educated
92%
High-School Grad
198.5 sq mi
ZIP Area
169
Density / Sq Mi
$115,097
Median Household Income
$56,650
Median Earnings
$2,272
Median Rent
$1,016,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-suite commercial property combining showroom and warehouse functionality with prominent boulevard frontage.
Where is this flex space located?
The property is located at 409 Petaluma Blvd S Petaluma, CA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Approximately 11,800 SF contiguous showroom/warehouse configuration across Suites A, B and E; 0.95‑acre lot with prominent Petaluma Boulevard frontage; Recently sprinklered building
