Two-Story Office Building with
New
For Sale
$2,095,000
8733 Lakewood Dr, Windsor, CA 95492
Multi-tenant office property with elevator service, dedicated parking, and access from multiple roads.
Property Size12,890 SF
Price / SF$162.53
Days on Market7
Property Features for 8733 Lakewood Dr
General Information
Standard status
Active
Size
12,890 SF
Class
Class A
Total Parking Spaces
48
Elevators
Yes
Property subtype
Commercial
Additional Details
Road Access
Yes
Office Units
12
Building Details
Building Size
12,890 SF
Year Built
1989
Buildings
1
Stories
2
Construction
concrete block and mirrored glass
Tenancy
Multi
Listing Agency:
NORTH BAY PROPERTY ADVISORS
(707) 360-4455
Listed By:
Nick Abbott · License #01000344
Source:
Elliman
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 8 at 10:14AM
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 two-story Class A office property at 8733 Lakewood Dr in Windsor contains approximately 12,890+/- square feet, with roughly 6,000 square feet on each floor. The building uses a multi-suite configuration with five suites at ground level and seven on the second floor. A full-height lobby, glass double-door entry, elevator, stair access, slate stone finishes, glass sidelights, and light wood accents define the interior. The concrete block and mirrored-glass exterior adds a contemporary commercial presence.
The property fronts Lakewood Drive and is also visible from Old Redwood Highway at a major signalized intersection. Additional access is available from Edgewood Place through Brooks Road. Approximately 48 dedicated parking stalls and a monument sign serve the property. The location records a walk score of 71, Very Walkable, and a bike score of 69, Bikeable. Several tenants occupy month-to-month leases, allowing continued rental income alongside owner-occupancy flexibility.
The property fronts Lakewood Drive and is also visible from Old Redwood Highway at a major signalized intersection. Additional access is available from Edgewood Place through Brooks Road. Approximately 48 dedicated parking stalls and a monument sign serve the property. The location records a walk score of 71, Very Walkable, and a bike score of 69, Bikeable. Several tenants occupy month-to-month leases, allowing continued rental income alongside owner-occupancy flexibility.
Key Highlights
- Approximately 12,890+/- square feet of Class A office space
- Five ground‑floor suites and seven suites on the second level
- Approximately 48 dedicated parking stalls
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
$181,996
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
8.69%
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%
$3,639,920
$3.6M
Cap Rate 7%
$2,599,943
$2.6M
Cap Rate 9%
$2,022,178
$2.0M
Market Conditions
NOI Build-Up for 12,890 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
$286.2K $22.20/SF
− Vacancy
−$43.5K −$3.37/SF
EGI
$242.7K $18.83/SF
− OpEx
−$60.7K −$4.71/SF
NOI
$182.0K $14.12/SF
Area
Sonoma County, 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%
$3,639,920
Cap Rate 7%
$2,599,943
Cap Rate 9%
$2,022,178
Alternative Uses
Best Use
Office B
$2.60M
$2.27M – $3.03M
NOI $181,996 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.49M
$3.06M – $4.08M
NOI $244,503 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Explore this area
Business Placement
Demographics for 95492, CA
27,819
Population
10,013
Households
2.8
Avg Household Size
42
Median Age
35%
College-Educated
89%
High-School Grad
19.8 sq mi
ZIP Area
1,405
Density / Sq Mi
$131,022
Median Household Income
$54,001
Median Earnings
$2,149
Median Rent
$777,700
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 - Multi-tenant office property with elevator service, dedicated parking, and access from multiple roads.
Where is this office building located?
The property is located at 8733 Lakewood Dr Windsor, CA.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: Approximately 12,890+/- square feet of Class A office space; Five ground‑floor suites and seven suites on the second level; Approximately 48 dedicated parking stalls
