Versatile Mixed-Use Property in
For Sale
$3,999,999
145 3RD ST, Santa Rosa, CA 95401
Prime downtown location with retail, office, and warehouse space.
Property Size15,000 SF
Price / SF$266.67
Days on Market369
Property Features for 145 3RD ST
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Mixed Use
Amenities
3
24 Parking Spaces.
Building Details
Year Built
1990
Listing Agency:
eXp Realty of California, Inc
(707) 583-9433
Listed By:
Lenore Coronado · License #01371042
(707) 583-9433
Source:
Xome
Added: Aug 27, 2025
Changed: Aug 25
Last Checked: Aug 29 at 6:56AM
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 eXp Realty of California, Inc
Investment Insights
Based on property information with market context.
Located in the heart of Historic Railroad Square in downtown Santa Rosa, this property offers high visibility and convenient access near Hwy 101. The location is surrounded by restaurants, shops, hotels, and the SMART Train. The property includes two parcels: one with the building and a gated parcel providing on-site parking. The building provides over 15,000 sq ft with frontage and windows along Third Street and Davis Street. Configured for retail, storage, and office use, the space can function as one large operation or be divided into up to three tenant spaces. The warehouse/storage portion features a roll-up door suitable for small truck access. The office area includes three private offices, two conference rooms, stock/storage areas, and a main reception area. Common areas offer a lunch/break space, restrooms, and additional storage. The retail component is an open space ideal for a showroom. Zoned SMU (Station Mixed Use) and located within a historic district, this property benefits from foot traffic, proximity to hotels with conference facilities, and walkability to downtown Santa Rosa and the downtown mall. The property is offered for sale and presents an opportunity to secure downtown real estate with flexibility and visibility.
Key Highlights
- Prime location in Historic Railroad Square, downtown Santa Rosa, with exceptional visibility and easy access to Hwy 101.
- Flexible space: 15,000+ sq ft, configurable as one large space or divided into up to three tenant spaces.
- Valuable on‑site, gated parking included with the property.
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
$211,788
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
5.29%
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%
$4,235,760
$4.2M
Cap Rate 7%
$3,025,543
$3.0M
Cap Rate 9%
$2,353,200
$2.4M
Market Conditions
NOI Build-Up for 15,000 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
$333.0K $22.20/SF
− Vacancy
−$50.6K −$3.37/SF
EGI
$282.4K $18.83/SF
− OpEx
−$70.6K −$4.71/SF
NOI
$211.8K $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%
$4,235,760
Cap Rate 7%
$3,025,543
Cap Rate 9%
$2,353,200
Alternative Uses
Best Use
Office B
$3.03M
$2.65M – $3.53M
NOI $211,788 @ 7.0% cap · market cap 5.29%
Second Best
Warehouse
$2.68M
$2.35M – $3.13M
NOI $187,811 @ 7.0% cap · market cap 4.70%
Theoretical Best
Multifamily LT 5
$4.17M
$3.65M – $4.86M
NOI $291,722 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,555
Businesses Nearby
Explore this area
Business Placement
Demographics for 95401, CA
37,272
Population
14,281
Households
2.6
Avg Household Size
38
Median Age
28%
College-Educated
80%
High-School Grad
20.9 sq mi
ZIP Area
1,783
Density / Sq Mi
$93,513
Median Household Income
$45,630
Median Earnings
$1,978
Median Rent
$628,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - Prime downtown location with retail, office, and warehouse space.
Where is this mixed-use property located?
The property is located at 145 3RD ST Santa Rosa, CA.
What is the asking price?
The asking price for this property is $3,999,999.
What are key features of this property?
This property features: Prime location in Historic Railroad Square, downtown Santa Rosa, with exceptional visibility and easy access to Hwy 101.; Flexible space: 15,000+ sq ft, configurable as one large space or divided into up to three tenant spaces.; Valuable on‑site, gated parking included with the property.
