Prime Retail Asset in
For Sale
$2,100,000
22 Boyes, Sonoma, CA 95476
Retail property near Fairmont Sonoma Mission Inn & Spa.
Property Size9,265 SF
Lot Size0.27 Acres
Price / SF$226.66
Days on Market144
Property Features for 22 Boyes
General Information
Standard status
Active
Size
9,265 SF
Lot size
0.27 Acres
Property subtype
Commercial
Amenities
Central air
Sidewalk
Central Heating
Concrete Slab Flooring
Flat Roof
Gas Heating
Individual Air Cooling
Linoleum Flooring
Low Maintenance
Storm Drain
Street Lights
Tar/Gravel Roof
Tile Roof
Unfinished Flooring
Varies by Unit Cooling
Building Details
Year Built
1951
Listing Agency:
COMPASS
9399500
Listed By:
JEFF D LOKEY · License #01919531
Source:
Corcoran
Added: Mar 19
Changed: Aug 8
Last Checked: Aug 9 at 8:17AM
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 COMPASS
Investment Insights
Based on property information with market context.
Located in the commercial center of Boyes Hot Springs, the property at 22 Boyes Boulevard is a retail asset adjacent to the Fairmont Sonoma Mission Inn & Spa. Situated along Highway 12, this 9,265 square foot retail property occupies a corner location in Boyes Springs. The surrounding area serves as a gateway to Sonoma Valley, drawing tourism. Originally constructed in the early 1950s, the property has a multi-tenant layout with four suites, suitable for retail, restaurant, office, or service-oriented uses. With frontage, signage potential, and proximity to a signalized intersection, the site has exposure and accessibility. The asset is an investment or owner-user opportunity, with partial tenancy including a U.S. Post Office. Located on a 0.27-acre parcel with on-site parking, the property is positioned to capitalize on growth in the Springs submarket. Surrounded by retail, dining, and resort amenities, and minutes from the Sonoma Plaza, 22 Boyes Boulevard offers location, scale, and long-term potential.
Key Highlights
- Prime location directly adjacent to the Fairmont Sonoma Mission Inn & Spa.
- High‑visibility corner location on Highway 12.
- Flexible multi‑tenant layout with four suites suitable for various uses.
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
$84,591
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
4.03%
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%
$1,691,820
$1.7M
Cap Rate 7%
$1,208,443
$1.2M
Cap Rate 9%
$939,900
$939.9K
Market Conditions
NOI Build-Up for 9,265 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
$130.1K $14.04/SF
− Vacancy
−$9.2K −$1.00/SF
EGI
$120.8K $13.04/SF
− OpEx
−$36.3K −$3.91/SF
NOI
$84.6K $9.13/SF
Area
Sonoma County, CA
Vacancy
7.10%
Lease Rate
$14.04 /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%
$1,691,820
Cap Rate 7%
$1,208,443
Cap Rate 9%
$939,900
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.41M
NOI $84,591 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.51M
$2.20M – $2.93M
NOI $175,742 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95476, CA
34,575
Population
16,974
Households
2
Avg Household Size
50
Median Age
41%
College-Educated
90%
High-School Grad
107.8 sq mi
ZIP Area
321
Density / Sq Mi
$108,322
Median Household Income
$52,530
Median Earnings
$2,127
Median Rent
$882,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail property near Fairmont Sonoma Mission Inn & Spa.
Where is this storefront property located?
The property is located at 22 Boyes Sonoma, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Prime location directly adjacent to the Fairmont Sonoma Mission Inn & Spa.; High‑visibility corner location on Highway 12.; Flexible multi‑tenant layout with four suites suitable for various uses.
