Refrigerated Warehouse with Manufacturing
For Sale
Contact for pricing
2090 Marina Ave, Petaluma, CA 94954
Includes freezer, refrigerated warehouse, packaging room, and manufacturing room with nitrogen sensor and floor drains.
Property Size72,612 SF
Price / SF$227.99
Days on Market109
Property Features for 2090 Marina Ave
General Information
Standard status
Active
Size
72,612 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Cold Storage
Yes
Freezer
1,240 SF
Cooler
4,020 SF
Listing Agency:
Cushman & Wakefield | Larkspur
(415) 485-0500
Listed By:
Steven Leonard · License #00909604
(415) 451-2434
Source:
Moodyscre
Added: May 28
Changed: Aug 27
Last Checked: Sep 13 at 4:24AM
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 Cushman & Wakefield | Larkspur
Investment Insights
Based on property information with market context.
This industrial facility is built for controlled processes and integrated operations, featuring approximately 1,240 SF of freezer space, 4,020 SF of refrigerated warehouse space, and a 1,764 SF packaging room. The property also includes an approximately 7,596 SF manufacturing room and a dry goods warehouse, along with an R&D test kitchen. Site and process support systems include a nitrogen sensor system, epoxy floors, floor drains, and a hot water boiler system, as well as sanitary soap and waste water collection systems.
Located at 2090 Marina Ave in Petaluma, California, the building totals approximately 72,612 SF and is offered for sale.
Located at 2090 Marina Ave in Petaluma, California, the building totals approximately 72,612 SF and is offered for sale.
Key Highlights
- Dry goods warehouse plus freezer space totaling 1,240 SF
- Refrigerated warehouse of 4,020 SF
- Packaging room with 1,764 SF
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
$1,300,427
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
7.86%
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%
$26,008,540
$26.0M
Cap Rate 7%
$18,577,529
$18.6M
Cap Rate 9%
$14,449,189
$14.4M
Market Conditions
NOI Build-Up for 72,612 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
$1.65M $22.68/SF
− Vacancy
−$116.9K −$1.61/SF
EGI
$1.53M $21.07/SF
− OpEx
−$229.5K −$3.16/SF
NOI
$1.30M $17.91/SF
Area
Sonoma County, CA
Vacancy
7.10%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
15.00%
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%
$26,008,540
Cap Rate 7%
$18,577,529
Cap Rate 9%
$14,449,189
Alternative Uses
Best Use
Warehouse
$18.58M
$16.26M – $21.67M
NOI $1,300,427 @ 7.0% cap · market cap 7.86%
Second Best
Industrial
$15.30M
$13.39M – $17.85M
NOI $1,070,940 @ 7.0% cap · market cap 6.47%
Theoretical Best
Specialty Retail
$19.68M
$17.22M – $22.96M
NOI $1,377,333 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Explore this area
Business Placement
Demographics for 94954, CA
38,301
Population
15,147
Households
2.5
Avg Household Size
43
Median Age
37%
College-Educated
92%
High-School Grad
62.2 sq mi
ZIP Area
616
Density / Sq Mi
$107,564
Median Household Income
$58,362
Median Earnings
$2,405
Median Rent
$790,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Refrigerated & cold storage - Includes freezer, refrigerated warehouse, packaging room, and manufacturing room with nitrogen sensor and floor drains.
Where is this refrigerated & cold storage located?
The property is located at 2090 Marina Ave Petaluma, CA.
What is the asking price?
The asking price for this property is $16,555,000.
What are key features of this property?
This property features: Dry goods warehouse plus freezer space totaling 1,240 SF; Refrigerated warehouse of 4,020 SF; Packaging room with 1,764 SF
