Cold Storage Warehouse Distribution
For Sale
$5,500,000
5980 State Farm Dr., Rohnert Park, CA 94928
Cold storage warehouse on 3.02 acres with development potential.
Property Size21,773 SF
Lot Size3.02 Acres
Price / SF$252.61
Days on Market163
Property Features for 5980 State Farm Dr.
General Information
Standard status
Active
Size
21,773 SF
Lot size
3.02 Acres
Property subtype
Industrial - Warehouse/Distribution
Building Details
Building Size
21,773 SF
Year Built
1997
Listing Agency:
North Bay Commercial Real Estate
Listed By:
Michael Mazanec · License #1968962
(707) 521-3500
Source:
Commercialcafe
Added: Mar 26
Changed: Sep 2
Last Checked: Sep 1 at 5:55PM
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 North Bay Commercial Real Estate
Investment Insights
Based on property information with market context.
This commercial property features a heavily developed cold storage warehouse distribution facility situated on a 3.02-acre parcel, offering excess land for additional development. The warehouse includes a 3,972-square-foot dry storage room, a 1,384-square-foot cooler, and a 6,255-square-foot freezer. It is equipped with eight dock-high roll-up doors and one drive-in roll-up door. The building has 1200 amp 277v 3-phase power. Additionally, the warehouse incorporates 1,500 square feet of office space complete with a full kitchen. The building is currently occupied by Buchanan Food Service, and the business is also for sale.
Key Highlights
- Heavily developed cold storage warehouse distribution facility.
- ±3.02 acre parcel offering excess land for additional development.
- Includes ±3,972 SF Dry Storage, ±1,384 SF cooler, and ±6,255 SF Freezer.
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
$389,938
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
7.09%
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%
$7,798,760
$7.8M
Cap Rate 7%
$5,570,543
$5.6M
Cap Rate 9%
$4,332,644
$4.3M
Market Conditions
NOI Build-Up for 21,773 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
$493.8K $22.68/SF
− Vacancy
−$35.1K −$1.61/SF
EGI
$458.8K $21.07/SF
− OpEx
−$68.8K −$3.16/SF
NOI
$389.9K $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%
$7,798,760
Cap Rate 7%
$5,570,543
Cap Rate 9%
$4,332,644
Alternative Uses
Best Use
Warehouse
$5.57M
$4.87M – $6.50M
NOI $389,938 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.90M
$5.16M – $6.88M
NOI $412,999 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,310
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94928, CA
47,062
Population
17,449
Households
2.7
Avg Household Size
36
Median Age
30%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
6,112
Density / Sq Mi
$96,622
Median Household Income
$44,674
Median Earnings
$2,211
Median Rent
$634,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Cold storage warehouse on 3.02 acres with development potential.
Where is this warehouse located?
The property is located at 5980 State Farm Dr. Rohnert Park, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Heavily developed cold storage warehouse distribution facility.; ±3.02 acre parcel offering excess land for additional development.; Includes ±3,972 SF Dry Storage, ±1,384 SF cooler, and **±6,255 SF Freezer**.
