Mixed-Use Property with Detached
For Sale
$2,050,000
Pending
4321 Sonoma Hwy, Santa Rosa, CA 95409
Two-parcel property combines flexible assembly, office, apartment, and garage improvements along a high-visibility corridor.
Property Size8,516 SF
Lot Size1.83 Acres
Days on Market236
Property Features for 4321 Sonoma Hwy
General Information
Standard status
Pending
Size
8,516 SF
Lot size
1.83 Acres
Zoning
R-3-18
Site & Location
Traffic Count
33,000 vehicles/day
Utilities to Site
Yes
Additional Details
Land Use
mixed-use
Amenities
detached garage
Building Details
Year Built
1964
Buildings
2
Listing Agency:
North Bay Property Advisors
5232700
Listed By:
William Severi · License #01000344
5232700
Source:
Exprealty
Added: Jan 6
Changed: Aug 30
Last Checked: Aug 30 at 2:48AM
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 North Bay Property Advisors
Investment Insights
Based on property information with market context.
This mixed-use property spans 1.83 acres across two parcels and includes an 8,516-square-foot main building with a lobby, assembly room, meeting or classroom areas, administrative offices, and a central restroom core. The upper level contains a 2-bedroom apartment, while a separate three-bay garage adds functional support space. Paved parking, site lighting, and adaptable interior areas serve the existing configuration.
The property is positioned along Sonoma Hwy with estimated traffic of 33,000 AADT and is near Montgomery Village, Spring Lake, schools, and shopping. City of Santa Rosa water and sewer serve the site, with an 8-inch sewer line along the northern edge. Infrastructure includes 400-amp electrical service, natural gas, packaged HVAC units on the lower level, and mini-split systems upstairs.
R-3-18 zoning and a Medium Density Residential General Plan designation support exploration of housing redevelopment, while continued similar use may be considered under the City’s non-conforming use provisions.
The property is positioned along Sonoma Hwy with estimated traffic of 33,000 AADT and is near Montgomery Village, Spring Lake, schools, and shopping. City of Santa Rosa water and sewer serve the site, with an 8-inch sewer line along the northern edge. Infrastructure includes 400-amp electrical service, natural gas, packaged HVAC units on the lower level, and mini-split systems upstairs.
R-3-18 zoning and a Medium Density Residential General Plan designation support exploration of housing redevelopment, while continued similar use may be considered under the City’s non-conforming use provisions.
Key Highlights
- 1.83‑acre property spanning two parcels
- 8,516‑square‑foot main building with assembly, meeting, classroom, office, and lobby areas
- Upper‑level 2‑bedroom apartment
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
$120,239
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
5.87%
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%
$2,404,780
$2.4M
Cap Rate 7%
$1,717,700
$1.7M
Cap Rate 9%
$1,335,989
$1.3M
Market Conditions
NOI Build-Up for 8,516 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
$189.1K $22.20/SF
− Vacancy
−$28.7K −$3.37/SF
EGI
$160.3K $18.83/SF
− OpEx
−$40.1K −$4.71/SF
NOI
$120.2K $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%
$2,404,780
Cap Rate 7%
$1,717,700
Cap Rate 9%
$1,335,989
Alternative Uses
Best Use
Office B
$1.72M
$1.50M – $2.00M
NOI $120,239 @ 7.0% cap · market cap 5.87%
Second Best
Mixed Use
$1.39M
$1.21M – $1.62M
NOI $97,165 @ 7.0% cap · market cap 4.74%
Theoretical Best
Multifamily LT 5
$2.37M
$2.07M – $2.76M
NOI $165,620 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
33,000 VPD
Traffic count
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
Explore this area
Business Placement
Demographics for 95409, CA
27,741
Population
12,499
Households
2.2
Avg Household Size
53
Median Age
50%
College-Educated
95%
High-School Grad
35.0 sq mi
ZIP Area
793
Density / Sq Mi
$105,736
Median Household Income
$59,003
Median Earnings
$2,346
Median Rent
$807,800
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?
Mixed-use property - Two-parcel property combines flexible assembly, office, apartment, and garage improvements along a high-visibility corridor.
Where is this mixed-use property located?
The property is located at 4321 Sonoma Hwy Santa Rosa, CA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: 1.83‑acre property spanning two parcels; 8,516‑square‑foot main building with assembly, meeting, classroom, office, and lobby areas; Upper‑level 2‑bedroom apartment
