Multi-Tenant Office Medical
For Sale
Contact for pricing
418 Aviation Blvd, Santa Rosa, CA 95403
Multi-tenant office/medical building built in 1991 with 85% occupancy and flexible suite configurations.
Property Size6,592 SF
Lot Size0.10 Acres
Price / SF$280.64
Days on Market213
Property Features for 418 Aviation Blvd
General Information
Standard status
Active
Size
6,592 SF
Class
B
Lot size
0.10 Acres
Property subtype
Office
Zoning
MP2
Occupancy
85%
Lease Type
NNN
Net Operating Income
$167,305
Building Details
Year Built
1991
Stories
2
Units
5
Tenancy
Multi
Listing Agency:
NAI Northern California
Listed By:
Seth Hubbert · License #CA 02158135
(510) 757-9929
Source:
Crexi
Added: Feb 3
Changed: Sep 2
Last Checked: Aug 31 at 1:46PM
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 NAI Northern California
Investment Insights
Based on property information with market context.
This multi-tenant office/medical building offers flexible suite configurations in a professional setting. Built in 1991, the property totals 6,592 SF and sits on 10.10 acres, with current occupancy at 85% and approximately 1,500 SF available. The parking ratio is 6.0 per 1,000 SF, supporting tenant and visitor access.
Located at 418 Aviation Blvd within the Airport Business Center in the Santa Rosa submarket, the property benefits from a business-oriented surroundings and ongoing leasing activity referenced in the area market. The listing notes recent submarket leasing that is associated with competitive asking rents of $24.60–$36.00/SF MG, creating value-add or owner-user leasing opportunities.
For prospective tenants and buyers, the existing multi-suite setup and available space support a range of occupancy needs within a dedicated office/medical environment.
Located at 418 Aviation Blvd within the Airport Business Center in the Santa Rosa submarket, the property benefits from a business-oriented surroundings and ongoing leasing activity referenced in the area market. The listing notes recent submarket leasing that is associated with competitive asking rents of $24.60–$36.00/SF MG, creating value-add or owner-user leasing opportunities.
For prospective tenants and buyers, the existing multi-suite setup and available space support a range of occupancy needs within a dedicated office/medical environment.
Key Highlights
- 6,592 SF multi‑tenant office/medical building built in 1991 on 0.10 acres
- Current occupancy is 85%, with approximately 1,500 SF available for lease
- Flexible suite configurations for a range of office/medical tenant needs
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
$93,074
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
5.03%
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%
$1,861,480
$1.9M
Cap Rate 7%
$1,329,629
$1.3M
Cap Rate 9%
$1,034,156
$1.0M
Market Conditions
NOI Build-Up for 6,592 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
$146.3K $22.20/SF
− Vacancy
−$22.2K −$3.37/SF
EGI
$124.1K $18.83/SF
− OpEx
−$31.0K −$4.71/SF
NOI
$93.1K $14.12/SF
Area
Santa Rosa, CA
Vacancy
15.20%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,861,480
Cap Rate 7%
$1,329,629
Cap Rate 9%
$1,034,156
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $93,074 @ 7.0% cap · market cap 5.03%
Second Best
Healthcare Medical
$1.26M
$1.10M – $1.47M
NOI $88,249 @ 7.0% cap · market cap 4.77%
Theoretical Best
Multifamily LT 5
$1.83M
$1.60M – $2.14M
NOI $128,202 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Explore this area
Business Placement
Demographics for 95403, CA
44,705
Population
17,504
Households
2.6
Avg Household Size
39
Median Age
27%
College-Educated
87%
High-School Grad
21.5 sq mi
ZIP Area
2,079
Density / Sq Mi
$94,480
Median Household Income
$45,928
Median Earnings
$2,215
Median Rent
$651,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office/medical building built in 1991 with 85% occupancy and flexible suite configurations.
Where is this office building located?
The property is located at 418 Aviation Blvd Santa Rosa, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 6,592 SF multi‑tenant office/medical building built in 1991 on 0.10 acres; Current occupancy is 85%, with approximately 1,500 SF available for lease; Flexible suite configurations for a range of office/medical tenant needs
