Multi-Unit
For Sale
$2,550,000
33 S University Street S, Healdsburg, CA 95448
Industrial-zoned property with natural gas service and a secured, enclosed setting.
Property Size12,000 SF
Days on Market10
Property Features for 33 S University Street S
General Information
Standard status
Active
Size
12,000 SF
Total Parking Spaces
20
Zoning
Industrial
Lease Term
24 Months
Amenities
Clear Height, Clear Span Ceilings, Major Tenant, Manager's Office, Other Restroom Facilities, Over 18 Ft Ceilings, Reception Area, Restroom(s)-Private, See Remarks
Accessible Doors
Multi Units
Natural Gas
Enclosed, Private, Secured, On Street
Building Details
Building Size
12,000 SF
Year Built
1984
Buildings
1
Stories
1
Listed By:
Craig M. Enyart
Source:
Evrealestate
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 2:15PM
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 Craig M. Enyart
Investment Insights
Based on property information with market context.
Built in 1984, this multi-unit warehouse property has natural gas service and an enclosed, private, secured exterior. Industrial zoning supports its commercial-industrial classification. On-street parking is also noted.
The property sits at the corner of S. University Street and Exchange Avenue in Healdsburg. From northbound Hwy. 101, take Exit 502 for Healdsburg Avenue; the site is reached after crossing the Healdsburg Memorial Bridge.
The property sits at the corner of S. University Street and Exchange Avenue in Healdsburg. From northbound Hwy. 101, take Exit 502 for Healdsburg Avenue; the site is reached after crossing the Healdsburg Memorial Bridge.
Key Highlights
- Multi‑unit warehouse property built in 1984
- Zoned Industrial
- Natural gas service
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
$214,911
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
8.43%
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%
$4,298,220
$4.3M
Cap Rate 7%
$3,070,157
$3.1M
Cap Rate 9%
$2,387,900
$2.4M
Market Conditions
NOI Build-Up for 12,000 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
$272.2K $22.68/SF
− Vacancy
−$19.3K −$1.61/SF
EGI
$252.8K $21.07/SF
− OpEx
−$37.9K −$3.16/SF
NOI
$214.9K $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%
$4,298,220
Cap Rate 7%
$3,070,157
Cap Rate 9%
$2,387,900
Alternative Uses
Best Use
Warehouse
$3.07M
$2.69M – $3.58M
NOI $214,911 @ 7.0% cap · market cap 8.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.25M
$2.85M – $3.79M
NOI $227,621 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,327
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 95448, CA
16,245
Population
7,783
Households
2.1
Avg Household Size
48
Median Age
45%
College-Educated
88%
High-School Grad
184.8 sq mi
ZIP Area
88
Density / Sq Mi
$103,048
Median Household Income
$46,932
Median Earnings
$2,129
Median Rent
$1,030,100
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
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial-zoned property with natural gas service and a secured, enclosed setting.
Where is this warehouse located?
The property is located at 33 S University Street S Healdsburg, CA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Multi‑unit warehouse property built in 1984; Zoned Industrial; Natural gas service
