Mixed-Use Investment
2321-2329 Circadian Way, Santa Rosa, CA 95407
Mixed-use property with existing tenant and expansion potential.
Type:Office, Industrial
Property size:
54,529 SFPrice / SF:
$249/SF- Added:
- Jul 25, 2023
- Days on Market:
- 1042
- Last Refresh:
- May 12 at 9:58 pm
Property Features for 2321-2329 Circadian Way
General Information
- Standard status
- Active
- Size
- 54,529 SF
- Property subtype
- Office, Industrial
Building Details
- Year Built
- 1997
Listing agent Barry Palma License #00901364
Listing office Newmark - San Rafael
Listing date Jul 25, 2023
Source Crexi
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 Newmark - San Rafael
HighLights
- ±42,319 sf building ideal for owner‑occupancy with income potential.
- Existing tenant leases ±12,210 sf until April 2026, offering immediate income.
- Located in Northpoint Business Park near Kaiser Permanente, Sonic, and the Veteran Administration.
- Opportunity to expand into leased space after April 2026.
- Heavy power: 1,600 amps of three‑phase power (277/480V).
- Situated in a Business Park (BP) zoning area for light manufacturing, office, and warehouse uses.
Overview
This investment offering features a mixed-use property suitable for a company aiming to occupy approximately 42,319 square feet while benefiting from additional income to offset mortgage expenses. Grow Strong Industries currently leases approximately 12,210 square feet at 2321 Circadian Way until April 2026. This arrangement provides the buyer with the flexibility to expand into the leased space upon its vacancy or to re-lease it to another tenant. Situated in Northpoint Business Park, established in 1986, the property is zoned BP (business park), accommodating light manufacturing, office, and warehouse uses. The business park hosts a variety of tenants, including a Kaiser Permanente Medical Office Building, Sonic (internet provider), a Veteran Administration Office Building, Amy’s Kitchen, County of Sonoma department offices, Medic Ambulance service for the County of Sonoma, Satellite Health Dialysis Office, and Info-Stor, a document storage facility. The building is equipped with 1,600 amps of three-phase power at 277/480 volts and is serviced by city water and sewer. The property's total size is 54,529 square feet.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.21M | $22.20 |
| − Vacancy | −$184.0k | −$3.37 |
| EGI | $1.03M | $18.83 |
| − OpEx | −$256.6k | −$4.71 |
| NOI | $769.9k | $14.12 |
54,529 SF · lease $22.20/SF/yr · vacancy 15.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$11.00M
$9.62M – $12.83M
NOI $769,906 @ 7.0% cap · market cap 5.65%
Second Best
Warehouse
$9.75M
$8.53M – $11.38M
NOI $682,741 @ 7.0% cap · market cap 5.01%
Theoretical Best
Multifamily LT 5
$15.15M
$13.26M – $17.67M
NOI $1,060,485 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Santa Rosa
- County
- Sonoma
- State
- California
- Longitude
- -122.7548634
- Latitude
- 38.4216935
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with existing tenant and expansion potential.
Where is this mixed-use property located?
The property is located at 2321-2329 Circadian Way Santa Rosa, CA.
What is the asking price?
The asking price for this property is $13,632,000.
What are key features of this property?
This property features: ±42,319 sf building ideal for owner‑occupancy with income potential.; Existing tenant leases ±12,210 sf until April 2026, offering immediate income.; Located in Northpoint Business Park near Kaiser Permanente, Sonic, and the Veteran Administration.
