Renovated Office Units with Retail
For Sale
$854,400
1617 4th, Santa Rosa, CA 95404
Flexible commercial layout combines upgraded offices with a separately configured service-oriented area and multiple customer-facing entry points.
Property Size2,848 SF
Price / SF$300
Days on Market167
Property Features for 1617 4th
General Information
Standard status
Active
Size
2,848 SF
Property subtype
Commercial
Amenities
ADA Lift
kitchenette
skylights
Composition Roof
Mid Block
Varies by Unit Flooring
Building Details
Year Built
1946
Buildings
1
Building Size
2,848 SF
Listing Agency:
KEEGAN & COPPIN COMPANY, INC
5281400
Listed By:
RHONDA DERINGER · License #01206401
Source:
Corcoran
Added: Mar 18
Changed: Aug 30
Last Checked: Aug 30 at 7:47PM
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 COMPANY, INC
Investment Insights
Based on property information with market context.
This 2,848-square-foot commercial building combines a substantially updated office component with a separate 530-square-foot area formerly used as a barber shop. The office portion includes private offices, two restrooms, a kitchenette, new or improved flooring, electrical and lighting work, brick facade walls, an ADA lift, large front windows, multiple doors, and eight skylights. The layout can be divided for separate occupancy or operational needs.
The smaller area includes a shampoo bowl, open front room, storage areas, and a restroom. Portions of the roof have been improved, and the interior and exterior were recently painted. Air conditioning and other building improvements are also in place. The property is located on a main corridor in East Santa Rosa at 1617 4th, Santa Rosa, California 95404, and was built in 1946.
The smaller area includes a shampoo bowl, open front room, storage areas, and a restroom. Portions of the roof have been improved, and the interior and exterior were recently painted. Air conditioning and other building improvements are also in place. The property is located on a main corridor in East Santa Rosa at 1617 4th, Santa Rosa, California 95404, and was built in 1946.
Key Highlights
- 2,848+/- SF commercial building with office and service‑oriented areas
- 2,318+/- SF office area with private offices, kitchenette, 2 restrooms, ADA lift, and 8 skylights
- 530+/- SF area includes a shampoo bowl, open front room, storage areas, and restroom
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
$40,211
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
4.71%
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%
$804,220
$804.2K
Cap Rate 7%
$574,443
$574.4K
Cap Rate 9%
$446,789
$446.8K
Market Conditions
NOI Build-Up for 2,848 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
$63.2K $22.20/SF
− Vacancy
−$9.6K −$3.37/SF
EGI
$53.6K $18.83/SF
− OpEx
−$13.4K −$4.71/SF
NOI
$40.2K $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%
$804,220
Cap Rate 7%
$574,443
Cap Rate 9%
$446,789
Alternative Uses
Best Use
Office B
$574.4K
$502.6K – $670.2K
NOI $40,211 @ 7.0% cap · market cap 4.71%
Second Best
Retail
$443.1K
$387.7K – $516.9K
NOI $31,015 @ 7.0% cap · market cap 3.63%
Theoretical Best
Multifamily LT 5
$791.3K
$692.4K – $923.1K
NOI $55,388 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,603
Businesses Nearby
Explore this area
Business Placement
Demographics for 95404, CA
38,034
Population
16,850
Households
2.3
Avg Household Size
43
Median Age
45%
College-Educated
90%
High-School Grad
75.4 sq mi
ZIP Area
504
Density / Sq Mi
$102,802
Median Household Income
$57,388
Median Earnings
$1,890
Median Rent
$865,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible commercial layout combines upgraded offices with a separately configured service-oriented area and multiple customer-facing entry points.
Where is this office units located?
The property is located at 1617 4th Santa Rosa, CA.
What is the asking price?
The asking price for this property is $854,400.
What are key features of this property?
This property features: 2,848+/- SF commercial building with office and service‑oriented areas; 2,318+/- SF office area with private offices, kitchenette, 2 restrooms, ADA lift, and 8 skylights; 530+/- SF area includes a shampoo bowl, open front room, storage areas, and restroom
