Two-Story Commercial Building For
138 N Main, Sebastopol, CA 95472
Two-story commercial building with retail and office space available.
Type:Commercial
Property size:
7,448 SFLot size:
0.19 AcresPrice / SF:
$255/SF- Added:
- Nov 4, 2025
- Days on Market:
- 200
- Last Refresh:
- Apr 5 at 8:27 pm
Property Features for 138 N Main
General Information
- Standard status
- Active
- Size
- 7,448 SF
- Lot size
- 0.19 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1922
Listing agent WILLIAM SEVERI License #01000344
Listing office NORTH BAY PROPERTY ADVISORS 5232700
Listing date Nov 4, 2025
Source Corcoran
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 NORTH BAY PROPERTY ADVISORS
HighLights
- High‑traffic location on N. Main Street with ~28,400 daily traffic count.
- Significant retail space: 4,429 SF on the ground floor with high‑ceiling open space.
- Income‑generating property: Leased to a long‑term tenant (44+ years) generating $12,622.30 monthly.
- Recent upgrades: Full electrical replacement (2024) and new roof (September 2025).
- Zoned CD - Commercial Downtown, offering versatile usage options.
- Equipped with essential systems: Full fire sprinkler system and central HVAC.
Overview
The property at 138 N. Main Street is a two-story commercial building constructed around 1922, offering a total of 7,448 square feet. The ground floor comprises 4,429 square feet of retail space, which includes 2,811 square feet of open space with high ceilings, 1,358 square feet situated under a mezzanine, and an additional 1,275 square feet of office or support space at the rear. The upper level provides 3,019 square feet, incorporating a 1,634 square foot mezzanine and further office areas. The building is equipped with a full fire sprinkler system and central HVAC. It includes four parking spaces at the rear and benefits from readily available public parking in the vicinity. Situated on a 0.19 acre parcel (8,276 square feet) within the Commercial Downtown (CD) zoning district, the property faces N. Main Street, which sees approximately 28,400 vehicles daily. Its location offers convenient access to restaurants, retail establishments, and various community amenities. Recent upgrades include a complete electrical system replacement in 2024 and a new roof scheduled for September 2025. The property is currently leased to a tenant with a 44+ year history on a month-to-month basis, generating a monthly income of $12,622.30, which covers base rent, taxes, insurance, and maintenance, and includes standard annual increases and reimbursements.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.17M
NOI $105,160 @ 9.00% cap · cautious / downside scenario
Moderate
$1.50M
NOI $105,160 @ 7.00% cap · market / base-case scenario
Aggressive
$2.10M
NOI $105,160 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $165.3k | $22.20 |
| − Vacancy | −$25.1k | −$3.37 |
| EGI | $140.2k | $18.83 |
| − OpEx | −$35.1k | −$4.71 |
| NOI | $105.2k | $14.12 |
7,448 SF · lease $22.20/SF/yr · vacancy 15.20% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.50M
$1.31M – $1.75M
NOI $105,160 @ 7.0% cap · market cap 5.53%
Second Best
Retail
$971.5K
$850.0K – $1.13M
NOI $68,002 @ 7.0% cap · market cap 3.58%
Theoretical Best
Specialty Retail
$2.02M
$1.77M – $2.35M
NOI $141,277 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Copperfield's Books
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Sebastopol
- County
- Sonoma
- State
- California
- Longitude
- -122.825
- Latitude
- 38.4026
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Two-story commercial building with retail and office space available.
Where is this storefront property located?
The property is located at 138 N Main Sebastopol, CA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: High‑traffic location on N. Main Street with ~28,400 daily traffic count.; Significant retail space: **4,429 SF on the ground floor with high‑ceiling open space.**; Income‑generating property: Leased to a long‑term tenant (44+ years) generating $12,622.30 monthly.
