Multi-Suite Office
New
For Sale
$1,100,000
659 Cherry St, Santa Rosa, CA 95404
Two-story professional office property with flexible occupancy for an owner-user and on-site parking.
Property Size4,875 SF
Price / SF$225.64
Days on Market1
Property Features for 659 Cherry St
General Information
Standard status
Active
Size
4,875 SF
Total Parking Spaces
7
Property subtype
Commercial
Occupancy
100%
Lease Term
Month-to-month
Additional Details
Office Units
14
Building Details
Building Size
4,875 SF
Stories
2
Units
14
Tenancy
Multi
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
Simon Raya · License #01924065
(707) 326-1117
Source:
Elliman
Added: Sep 15
Last Checked: Sep 15 at 2:20PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This two-story professional office building contains approximately 4,875 square feet arranged across 14 suites. The configuration supports an owner-user occupying a portion of the property while retaining rental income from other suites. The building was fully occupied according to the July 2026 rent roll, with tenancy comprising shorter-term and month-to-month arrangements where reflected in the lease schedule.
Located at 659 Cherry St in central Santa Rosa, the property is near College Avenue and downtown services. The site includes 7 parking spaces, 2 of which are covered. Walk Score is 87, Bike Score is 64, and Transit Score is 45, providing pedestrian, bicycle, and public-transit access within the surrounding area.
Located at 659 Cherry St in central Santa Rosa, the property is near College Avenue and downtown services. The site includes 7 parking spaces, 2 of which are covered. Walk Score is 87, Bike Score is 64, and Transit Score is 45, providing pedestrian, bicycle, and public-transit access within the surrounding area.
Key Highlights
- Approximately 4,875 SF professional office building over two stories
- 14‑suite configuration with flexible owner‑user occupancy potential
- Fully occupied as of the July 2026 rent roll
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
$68,831
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
6.26%
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%
$1,376,620
$1.4M
Cap Rate 7%
$983,300
$983.3K
Cap Rate 9%
$764,789
$764.8K
Market Conditions
NOI Build-Up for 4,875 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
$108.2K $22.20/SF
− Vacancy
−$16.5K −$3.37/SF
EGI
$91.8K $18.83/SF
− OpEx
−$22.9K −$4.71/SF
NOI
$68.8K $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%
$1,376,620
Cap Rate 7%
$983,300
Cap Rate 9%
$764,789
Alternative Uses
Best Use
Office B
$983.3K
$860.4K – $1.15M
NOI $68,831 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.35M
$1.19M – $1.58M
NOI $94,809 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
14
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,289
Businesses Nearby
Explore this area
Business Placement
Demographics for 95404, CA
38,034
Population
16,850
Households
2.3
Avg Household Size
43
Median Age
45%
College-Educated
90%
High-School Grad
75.4 sq mi
ZIP Area
504
Density / Sq Mi
$102,802
Median Household Income
$57,388
Median Earnings
$1,890
Median Rent
$865,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-story professional office property with flexible occupancy for an owner-user and on-site parking.
Where is this office building located?
The property is located at 659 Cherry St Santa Rosa, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 4,875 SF professional office building over two stories; 14‑suite configuration with flexible owner‑user occupancy potential; Fully occupied as of the July 2026 rent roll
