Building Details

Building Size 72,612 SF

Listing Agency: Cushman & Wakefield | Larkspur

Listed By: Steven Leonard · License #00909604 Show Phone

Source: Cushmanwakefield

Added: Jul 28 Changed: Oct 16 Last Checked: Oct 16 at 6:29AM

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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.

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 / Yr

$1,300,427

Cap Rate

7.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$26,008,540 $26.0M

Cap Rate 7%

$18,577,529 $18.6M

Cap Rate 9%

$14,449,189 $14.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 72,612 SF

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 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 (±1% cap)

NOI $1,300,427 @ 7.0% cap · market cap 7.86%

Second Best

Industrial

$15.30M

$13.39M – $17.85M (±1% cap)

NOI $1,070,940 @ 7.0% cap · market cap 6.47%

Theoretical Best

Specialty Retail

$19.68M

$17.22M – $22.96M (±1% cap)

NOI $1,377,333 @ 7.0% cap · market cap 8.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Arkansas Strategic Wealth ... Consultant

Suggested Use

Top Pick Real Estate Agency Restaurant Dental Office Building Supply Spa & Massage Center Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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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 Avenue 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