Street-Level Retail and
For Sale
Contact for pricing
2609 SONOMA BLVD, Vallejo, CA 94590
Two detached buildings on one lot offer street-level space plus separate residential units, delivered vacant and sold as-is.
Property Size2,200 SF
Price / SF$215.91
Days on Market62
Property Features for 2609 SONOMA BLVD
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Retail, Multifamily, Mixed Use
Zoning
Multi
Building Details
Year Built
1908
Buildings
2
Stories
1
Units
3
Listing Agency:
Reena Loans & Real Estate
(415) 866-3440
Listed By:
Reena Paleja · License #CA 01133785
Source:
Crexi
Added: Jun 9
Changed: Aug 7
Last Checked: Aug 9 at 2:55PM
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 Reena Loans & Real Estate
Investment Insights
Based on property information with market context.
This property consists of two detached buildings on a single lot, delivered 100% vacant and sold strictly as-is. The front building includes a street-level storefront of approximately 500 square feet with a bathroom and storage, with an additional 3-bedroom, 1-bath residential unit directly above. The rear building features a separate 3-bedroom, 2-bath residential unit.
The buildings are located along the high-visibility Sonoma Boulevard corridor. The configuration creates separate spaces that can support mixed-use objectives, with the storefront frontage paired with above and rear residential layouts.
For buyers or operators, the asset provides a clear option for re-tenanting retail/office use at the front while restoring and renting the existing residential units. The owner is currently working on architectural plans for an ADU addition, which may help the next owner plan additional income-producing space as part of the property’s overall redevelopment. As a fixer-upper sold as-is, it is best suited for buyers comfortable taking on deferred improvements and positioning the site for new occupancy.
The buildings are located along the high-visibility Sonoma Boulevard corridor. The configuration creates separate spaces that can support mixed-use objectives, with the storefront frontage paired with above and rear residential layouts.
For buyers or operators, the asset provides a clear option for re-tenanting retail/office use at the front while restoring and renting the existing residential units. The owner is currently working on architectural plans for an ADU addition, which may help the next owner plan additional income-producing space as part of the property’s overall redevelopment. As a fixer-upper sold as-is, it is best suited for buyers comfortable taking on deferred improvements and positioning the site for new occupancy.
Key Highlights
- Two detached buildings on a single lot with separate street‑level and residential spaces
- Front building: ~500 SF street‑level storefront with a bathroom and storage
- Front building includes a 3‑bedroom, 1‑bath unit above the storefront
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
$38,428
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
8.09%
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%
$768,560
$768.6K
Cap Rate 7%
$548,971
$549.0K
Cap Rate 9%
$426,978
$427.0K
Market Conditions
NOI Build-Up for 2,200 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
$73.4K $33.36/SF
− Vacancy
−$3.5K −$1.60/SF
EGI
$69.9K $31.76/SF
− OpEx
−$31.4K −$14.29/SF
NOI
$38.4K $17.47/SF
Area
Vallejo, CA
Vacancy
4.80%
Lease Rate
$33.36 /SF/Yr
Expense Ratio
45.00%
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%
$768,560
Cap Rate 7%
$548,971
Cap Rate 9%
$426,978
Alternative Uses
Best Use
Retail
$727.8K
$636.9K – $849.2K
NOI $50,949 @ 7.0% cap · market cap 10.73%
Second Best
Apartment 5plus
$549.0K
$480.4K – $640.5K
NOI $38,428 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$1.07M
$936.9K – $1.25M
NOI $74,950 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,685
Businesses Nearby
294k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 42%
Shops & Services 28%
Dining 24%
Apparel 4%
Seafood City
Groceries
51,104 visits/mo
0.2 miles
Walmart Neighborhood Market
Groceries
47,857 visits/mo
0.4 miles
Smart & Final
Groceries
23,427 visits/mo
0.5 miles
McDonald's
Dining
23,292 visits/mo
0.2 miles
dd's DISCOUNTS
Shops & Services
21,080 visits/mo
0.1 miles
Demographics for 94590, CA
39,981
Population
16,500
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
87%
High-School Grad
6.6 sq mi
ZIP Area
6,058
Density / Sq Mi
$66,957
Median Household Income
$43,383
Median Earnings
$1,768
Median Rent
$510,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - Two detached buildings on one lot offer street-level space plus separate residential units, delivered vacant and sold as-is.
Where is this storefront property located?
The property is located at 2609 SONOMA BLVD Vallejo, CA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two detached buildings on a single lot with separate street‑level and residential spaces; Front building: ~500 SF street‑level storefront with a bathroom and storage; Front building includes a 3‑bedroom, 1‑bath unit above the storefront
