Prime Industrial Property on Airport
For Sale
Contact for pricing
1400-1408 Airport Blvd, Santa Rosa, CA
Rare industrial property with significant frontage in Santa Rosa.
Property Size24,237 SF
Lot Size3.87 Acres
Price / SF$210.42
Days on Market278
Property Features for 1400-1408 Airport Blvd
General Information
Standard status
Active
Size
24,237 SF
Lot size
3.87 Acres
Property subtype
INDUSTRIAL
Listing Agency:
North Bay Commercial Real Estate
(707) 570-9390
Listed By:
Michael Mazanec · License #01968962
(707) 570-9390
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 14
Last Checked: Aug 28 at 7:19AM
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 Commercial Real Estate
Investment Insights
Based on property information with market context.
This industrial property is located in the Airport Business Corridor of Northern Santa Rosa. A notable feature is the 208 feet of frontage on Airport Blvd. The MP 2 AC AVG zoning allows for a wide range of uses, providing versatility for manufacturing, logistics, or distribution businesses. The property offers visibility and accessibility due to its frontage on a busy street. The property's scarcity makes it a unique opportunity in Sonoma County. This property of 24,237 square feet offers a strategic location within a thriving business community.
Key Highlights
- Rare MP 2 AC AVG zoning allows for a wide range of industrial uses.
- Exceptional 208 feet of prime frontage on Airport Blvd. provides high visibility and accessibility.
- One of the last remaining properties of its kind in Sonoma County, offering a unique and scarce opportunity.
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
$255,236
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
5.00%
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%
$5,104,720
$5.1M
Cap Rate 7%
$3,646,229
$3.6M
Cap Rate 9%
$2,835,956
$2.8M
Market Conditions
NOI Build-Up for 24,237 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
$381.0K $15.72/SF
− Vacancy
−$16.4K −$0.68/SF
EGI
$364.6K $15.04/SF
− OpEx
−$109.4K −$4.51/SF
NOI
$255.2K $10.53/SF
Area
Santa Rosa, CA
Vacancy
4.30%
Lease Rate
$15.72 /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%
$5,104,720
Cap Rate 7%
$3,646,229
Cap Rate 9%
$2,835,956
Alternative Uses
Best Use
Industrial
$3.65M
$3.19M – $4.25M
NOI $255,236 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.73M
$5.89M – $7.86M
NOI $471,364 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial property - Rare industrial property with significant frontage in Santa Rosa.
Where is this industrial property located?
The property is located at 1400-1408 Airport Blvd Santa Rosa, CA.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: Rare MP 2 AC AVG zoning allows for a wide range of industrial uses.; Exceptional 208 feet of prime frontage on Airport Blvd. provides high visibility and accessibility.; One of the last remaining properties of its kind in Sonoma County, offering a unique and scarce opportunity.
