Two Office Buildings For
For Sale
$2,195,000
Pending
703 Jefferson, Napa, CA 94559
Two office buildings on a high-profile corner lot.
Property Size3,727 SF
Lot Size0.32 Acres
Days on Market301
Property Features for 703 Jefferson
General Information
Standard status
Pending
Size
3,727 SF
Lot size
0.32 Acres
Property subtype
Commercial
Amenities
Central air
Carpet Flooring
Central Cooling
Central Heating
Composition Roof
Corner
Gas Heating
Landscape Front
Tile Flooring
Wood Flooring
Building Details
Year Built
1900
Listing Agency:
COLDWELL BANKER B OF V-COM DIV
2248454
Listed By:
MICHAEL J MOFFETT · License #00946472
Source:
Corcoran
Added: Oct 30, 2025
Changed: Aug 8
Last Checked: Jul 23 at 8:34AM
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 B OF V-COM DIV
Investment Insights
Based on property information with market context.
Two office buildings are available for sale, situated on a high-profile corner lot. The primary office building has 3,160 square feet, while the secondary building offers 567 square feet. The property includes 19 parking spaces. It is located within walking distance of downtown, the courthouse, and various restaurants. The HVAC units on the first and second floors are regularly maintained. The buildings can also be leased at a rate of $2.50 per square foot per month, NNN.
Key Highlights
- High‑profile corner lot location.
- Two office buildings (3,160 SF and 567 SF).
- Plentiful parking with 19 spaces.
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
$76,403
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
3.48%
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%
$1,528,060
$1.5M
Cap Rate 7%
$1,091,471
$1.1M
Cap Rate 9%
$848,922
$848.9K
Market Conditions
NOI Build-Up for 3,727 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
$143.1K $38.40/SF
− Vacancy
−$41.2K −$11.07/SF
EGI
$101.9K $27.33/SF
− OpEx
−$25.5K −$6.83/SF
NOI
$76.4K $20.50/SF
Area
Napa County, CA
Vacancy
28.82%
Lease Rate
$38.40 /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%
$1,528,060
Cap Rate 7%
$1,091,471
Cap Rate 9%
$848,922
Alternative Uses
Best Use
Office B
$1.09M
$955.0K – $1.27M
NOI $76,403 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.52M
$6.58M – $8.77M
NOI $526,464 @ 7.0% cap · market cap 23.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,555
Businesses Nearby
Explore this area
Business Placement
Demographics for 94559, CA
28,137
Population
11,599
Households
2.4
Avg Household Size
40
Median Age
37%
College-Educated
84%
High-School Grad
41.4 sq mi
ZIP Area
680
Density / Sq Mi
$100,559
Median Household Income
$52,247
Median Earnings
$2,044
Median Rent
$877,100
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 - Two office buildings on a high-profile corner lot.
Where is this office building located?
The property is located at 703 Jefferson Napa, CA.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: High‑profile corner lot location.; Two office buildings (3,160 SF and 567 SF).; Plentiful parking with 19 spaces.
