Warehouse Flex with Roll-Up
For Sale
$925,000
964 Petaluma Hill, Santa Rosa, CA 95404
Flex warehouse with two roll-up doors, showroom-suitable facade, and an enclosed back patio with a single bathroom.
Property Size5,501 SF
Price / SF$168.15
Days on Market145
Property Features for 964 Petaluma Hill
General Information
Standard status
Active
Size
5,501 SF
Property subtype
Commercial
Zoning
CG
Site & Location
Road Access
Yes
Fenced Yard
Yes
Amenities
enclosed back patio
Metal Roof
Concrete Slab Flooring
Building Details
Year Built
1938
Listing Agency:
KEEGAN & COPPIN COMPANY, INC
5281400
Listed By:
STEVEN R GORDON
Source:
Corcoran
Added: Apr 14
Changed: Sep 4
Last Checked: Sep 5 at 9:28AM
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 COMPANY, INC
Investment Insights
Based on property information with market context.
This 5,500+/- square foot warehouse/flex space offers a versatile layout for a range of commercial uses. The property includes two roll-up doors for efficient loading and unloading and features a modern facade that supports showroom or other customer-facing operations. A single bathroom is included for tenant convenience, and the unit also has an enclosed back patio of approximately 1,400 SF.
The space benefits from excellent frontage on Petaluma Hill Road, providing convenient visibility for clients and easy access for deliveries, staff, and visitors.
Zoned General Commercial (CG), the property supports flexible use options. Access is designed to accommodate both loading activity and customer-facing operations, with the enclosed patio adding additional usable area behind the primary space.
The space benefits from excellent frontage on Petaluma Hill Road, providing convenient visibility for clients and easy access for deliveries, staff, and visitors.
Zoned General Commercial (CG), the property supports flexible use options. Access is designed to accommodate both loading activity and customer-facing operations, with the enclosed patio adding additional usable area behind the primary space.
Key Highlights
- 5,500+/- SF warehouse/flex space with a versatile layout for a variety of commercial uses
- Two roll‑up doors for loading and unloading efficiency
- Zoned General Commercial (CG) for flexible use options
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
$68,876
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
7.45%
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%
$1,377,520
$1.4M
Cap Rate 7%
$983,943
$983.9K
Cap Rate 9%
$765,289
$765.3K
Market Conditions
NOI Build-Up for 5,501 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
$84.5K $15.36/SF
− Vacancy
−$3.5K −$0.63/SF
EGI
$81.0K $14.73/SF
− OpEx
−$12.2K −$2.21/SF
NOI
$68.9K $12.52/SF
Area
Santa Rosa, CA
Vacancy
4.10%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
15.00%
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%
$1,377,520
Cap Rate 7%
$983,943
Cap Rate 9%
$765,289
Alternative Uses
Best Use
Warehouse
$983.9K
$861.0K – $1.15M
NOI $68,876 @ 7.0% cap · market cap 7.45%
Second Best
Industrial
$827.6K
$724.1K – $965.5K
NOI $57,930 @ 7.0% cap · market cap 6.26%
Theoretical Best
Multifamily LT 5
$1.53M
$1.34M – $1.78M
NOI $106,984 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,112
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse with two roll-up doors, showroom-suitable facade, and an enclosed back patio with a single bathroom.
Where is this flex space located?
The property is located at 964 Petaluma Hill Santa Rosa, CA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 5,500+/- SF warehouse/flex space with a versatile layout for a variety of commercial uses; Two roll‑up doors for loading and unloading efficiency; Zoned General Commercial (CG) for flexible use options
