Two-Story Downtown Office
For Sale
$2,850,000
801 4th Street, Santa Rosa, CA 95404
Two-story office building with ground-floor Columbia Bank lease and a vacant second floor plus an adjacent parking lot.
Property Size9,500 SF
Price / SF$300
Days on Market93
Property Features for 801 4th Street
General Information
Standard status
Active
Size
9,500 SF
Total Parking Spaces
35
Amenities
Open, Assigned
Building Details
Building Size
9,500 SF
Year Built
1957
Buildings
1
Stories
2
Listing Agency:
San Francisco Office
(415) 302-2144
Listed By:
Erich M. Reichenbach · License #(S):CA:01860626
(415) 302-2144
Source:
Evrealestate
Added: May 28
Changed: Aug 26
Last Checked: Aug 28 at 8:04AM
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 San Francisco Office
Investment Insights
Based on property information with market context.
801 4th Street is a two-story office building in Downtown Santa Rosa with approximately 9,500 square feet of space. The first floor is leased to Columbia Bank and includes multiple offices, while the entire second floor is currently vacant and configured with private offices, a conference room, bullpen area, a large kitchen, and elevator access.
The property is located at the corner of Fourth and E Streets, about two blocks from Courthouse Square. It also includes an adjacent parking lot of approximately 8,700 square feet with approximately 35 on-site spaces, supporting convenient customer or employee parking in the downtown core.
In addition to the existing ground-floor lease through September 30, 2030, the arrangement includes two additional three-year extension options. The second floor vacancy offers a straightforward leasing opportunity for an owner-occupant or office tenant seeking to consolidate operations within the building.
The property is located at the corner of Fourth and E Streets, about two blocks from Courthouse Square. It also includes an adjacent parking lot of approximately 8,700 square feet with approximately 35 on-site spaces, supporting convenient customer or employee parking in the downtown core.
In addition to the existing ground-floor lease through September 30, 2030, the arrangement includes two additional three-year extension options. The second floor vacancy offers a straightforward leasing opportunity for an owner-occupant or office tenant seeking to consolidate operations within the building.
Key Highlights
- Two‑story office building built in 1957 in Downtown Santa Rosa, with prominent corner location at Fourth and E Streets
- Approx. 9,500 SF total: approx. 5,050 SF first floor fully leased to Columbia Bank through September 30, 2030
- First‑floor lease includes two additional three‑year extension options that could extend occupancy through 2036
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
$134,132
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
4.71%
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%
$2,682,640
$2.7M
Cap Rate 7%
$1,916,171
$1.9M
Cap Rate 9%
$1,490,356
$1.5M
Market Conditions
NOI Build-Up for 9,500 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
$210.9K $22.20/SF
− Vacancy
−$32.1K −$3.37/SF
EGI
$178.8K $18.83/SF
− OpEx
−$44.7K −$4.71/SF
NOI
$134.1K $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%
$2,682,640
Cap Rate 7%
$1,916,171
Cap Rate 9%
$1,490,356
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.24M
NOI $134,132 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.64M
$2.31M – $3.08M
NOI $184,757 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,021
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
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-story office building with ground-floor Columbia Bank lease and a vacant second floor plus an adjacent parking lot.
Where is this office building located?
The property is located at 801 4th Street Santa Rosa, CA.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Two‑story office building built in 1957 in Downtown Santa Rosa, with prominent corner location at Fourth and E Streets; Approx. 9,500 SF total: approx. 5,050 SF first floor fully leased to Columbia Bank through September 30, 2030; First‑floor lease includes two additional three‑year extension options that could extend occupancy through 2036
