Renovated Mixed-Use Commercial
For Sale
Contact for pricing
3201 Cleveland Ave. & 799 Piner Rd, Santa Rosa, CA 95403
Recently renovated commercial property with retail and office spaces.
Property Size46,000 SF
Price / SF$125
Days on Market788
Property Features for 3201 Cleveland Ave. & 799 Piner Rd
General Information
Standard status
Active
Size
46,000 SF
Total Parking Spaces
70
Property subtype
Retail, Office, Industrial
Zoning
CG – General Commercial District
Lease Type
NNN
Net Operating Income
$288,332
Building Details
Year Built
1967
Year Renovated
2019
Stories
2
Tenancy
Multi
Listing Agency:
Keegan & Coppin Co. Santa Rosa
(707) 664-1400
Listed By:
Rhonda Deringer · License #CA 01206401
Source:
Crexi
Added: Jul 5, 2024
Changed: Aug 27
Last Checked: Aug 29 at 12:29AM
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 Keegan & Coppin Co. Santa Rosa
Investment Insights
Based on property information with market context.
This recently renovated commercial property features a mix of retail spaces and professional office suites. The first floor is occupied by three long-term anchor tenants. The second floor, accessible by elevator and stairway, includes recently updated small office suites, a common kitchen, restrooms, conference rooms, and a lobby. There is additional opportunity for value-add in the unfinished second-floor retail, office, and flex spaces. The property has a total size of 46000 square feet.
Key Highlights
- Recently renovated, state‑of‑the‑art commercial property.
- Blend of highly visible retail spaces and professional office suites.
- First floor houses three esteemed long term anchor tenants.
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
$524,849
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
9.13%
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%
$10,496,980
$10.5M
Cap Rate 7%
$7,497,843
$7.5M
Cap Rate 9%
$5,831,656
$5.8M
Market Conditions
NOI Build-Up for 46,000 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
$910.8K $19.80/SF
− Vacancy
−$71.0K −$1.54/SF
EGI
$839.8K $18.26/SF
− OpEx
−$314.9K −$6.85/SF
NOI
$524.8K $11.41/SF
Area
Santa Rosa, CA
Vacancy
7.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
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%
$10,496,980
Cap Rate 7%
$7,497,843
Cap Rate 9%
$5,831,656
Alternative Uses
Best Use
Office B
$9.28M
$8.12M – $10.82M
NOI $649,483 @ 7.0% cap · market cap 11.30%
Second Best
Mixed Use
$7.50M
$6.56M – $8.75M
NOI $524,849 @ 7.0% cap · market cap 9.13%
Theoretical Best
Multifamily LT 5
$12.78M
$11.18M – $14.91M
NOI $894,613 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 95403, CA
44,705
Population
17,504
Households
2.6
Avg Household Size
39
Median Age
27%
College-Educated
87%
High-School Grad
21.5 sq mi
ZIP Area
2,079
Density / Sq Mi
$94,480
Median Household Income
$45,928
Median Earnings
$2,215
Median Rent
$651,900
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?
Mixed-use property - Recently renovated commercial property with retail and office spaces.
Where is this mixed-use property located?
The property is located at 3201 Cleveland Ave. & 799 Piner Rd Santa Rosa, CA.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Recently renovated, state‑of‑the‑art commercial property.; Blend of highly visible retail spaces and professional office suites.; First floor houses three esteemed long term anchor tenants.
