Versatile Commercial Land with
For Sale
$4,950,000
23999 Arnold, Sonoma, CA 95476
10 acres with buildings near Sonoma and Napa Valleys.
Property Size10,656 SF
Lot Size10.00 Acres
Price / SF$464.53
Days on Market385
Property Features for 23999 Arnold
General Information
Standard status
Active
Size
10,656 SF
Lot size
10.00 Acres
Property subtype
Commercial
Building Details
Year Built
1970
Listing Agency:
W REAL ESTATE
5910570
Listed By:
RANDY WALLER · License #01795950
Source:
Corcoran
Added: Jul 21, 2025
Changed: Aug 8
Last Checked: Aug 9 at 8:35AM
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 W REAL ESTATE
Investment Insights
Based on property information with market context.
This property offers an exceptional opportunity in a prime location, spanning 10 acres across two separate parcels of versatile commercial land. The site includes three existing structures: one main building and two warehouse-style barns, providing immediate functionality and a variety of potential uses. This property provides ample space and flexibility for development, investment, or business expansion. It is located at the gateway to Sonoma and Napa Valleys. The property offers a rare combination of location, size, and strategic value. The total property size is 10656 square feet.
Key Highlights
- 10 acres of versatile commercial land across two parcels.
- Prime location at the gateway to Sonoma and Napa Valleys.
- Includes a main building and two warehouse‑style barns.
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
$190,841
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
3.86%
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%
$3,816,820
$3.8M
Cap Rate 7%
$2,726,300
$2.7M
Cap Rate 9%
$2,120,456
$2.1M
Market Conditions
NOI Build-Up for 10,656 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
$241.7K $22.68/SF
− Vacancy
−$17.2K −$1.61/SF
EGI
$224.5K $21.07/SF
− OpEx
−$33.7K −$3.16/SF
NOI
$190.8K $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%
$3,816,820
Cap Rate 7%
$2,726,300
Cap Rate 9%
$2,120,456
Alternative Uses
Best Use
Warehouse
$2.73M
$2.39M – $3.18M
NOI $190,841 @ 7.0% cap · market cap 3.86%
Second Best
Industrial
$2.25M
$1.96M – $2.62M
NOI $157,163 @ 7.0% cap · market cap 3.18%
Theoretical Best
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,127 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 10 acres with buildings near Sonoma and Napa Valleys.
Where is this commercial land located?
The property is located at 23999 Arnold Sonoma, CA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 10 acres of versatile commercial land across two parcels.; Prime location at the gateway to Sonoma and Napa Valleys.; Includes a main building and two warehouse‑style barns.
