Medical Office Suite with Flexible
For Sale
$580,000
B-465 March Avenue, Healdsburg, CA 95448
Permitted remodel includes private offices, reception, exam space, storage, and an ADA-compliant restroom.
Property Size1,200 SF
Price / SF$483.33
Days on Market90
Property Features for B-465 March Avenue
General Information
Standard status
Active
Size
1,200 SF
Zoning
Medical/Professional
Additional Details
HOA Fee
$574.14
Amenities
wet-bar stations
on-site laundry area
storage
Listing Agency:
Sonoma Realty Group
8887117
Listed By:
David J. Hunt · License #02129551
8887117
Source:
Exprealty
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 4:20AM
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 Sonoma Realty Group
Investment Insights
Based on property information with market context.
This 1,200-square-foot medical office suite occupies a double unit within a professional complex and has a permitted remodeled layout. The interior includes three private offices, reception and waiting areas, an open exam area, and a versatile open room suitable for a gym, boardroom, studio, or collaborative workspace. Cherry cabinetry, stone-counter wet-bar and sink stations, recessed LED lighting, commercial carpet, and garden-view windows are among the interior improvements. A permitted ADA-compliant restroom, laundry area, and substantial storage support daily operations.
The property is zoned Medical/Professional and is currently arranged for a physical therapy practice, while the flexible configuration can accommodate other professional, wellness, studio, or office uses identified in the property information. The suite is next door to Healdsburg District Hospital and minutes from Healdsburg Plaza, with nearby restaurants and hotels contributing to the surrounding setting.
The property is zoned Medical/Professional and is currently arranged for a physical therapy practice, while the flexible configuration can accommodate other professional, wellness, studio, or office uses identified in the property information. The suite is next door to Healdsburg District Hospital and minutes from Healdsburg Plaza, with nearby restaurants and hotels contributing to the surrounding setting.
Key Highlights
- 1,200‑square‑foot double medical office unit at B‑465 March Avenue, Unit B
- Three private offices plus reception, waiting, open exam, and flexible open‑room areas
- Permitted remodel with recessed LED lighting, cherry cabinetry, stone counters, and commercial carpet
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
$16,943
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
2.92%
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%
$338,860
$338.9K
Cap Rate 7%
$242,043
$242.0K
Cap Rate 9%
$188,256
$188.3K
Market Conditions
NOI Build-Up for 1,200 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
$26.6K $22.20/SF
− Vacancy
−$4.0K −$3.37/SF
EGI
$22.6K $18.83/SF
− OpEx
−$5.6K −$4.71/SF
NOI
$16.9K $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%
$338,860
Cap Rate 7%
$242,043
Cap Rate 9%
$188,256
Alternative Uses
Best Use
Office B
$242.0K
$211.8K – $282.4K
NOI $16,943 @ 7.0% cap · market cap 2.92%
Second Best
Healthcare Medical
$214.5K
$187.7K – $250.3K
NOI $15,016 @ 7.0% cap · market cap 2.59%
Theoretical Best
Specialty Retail
$325.2K
$284.5K – $379.4K
NOI $22,762 @ 7.0% cap · market cap 3.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95448, CA
16,245
Population
7,783
Households
2.1
Avg Household Size
48
Median Age
45%
College-Educated
88%
High-School Grad
184.8 sq mi
ZIP Area
88
Density / Sq Mi
$103,048
Median Household Income
$46,932
Median Earnings
$2,129
Median Rent
$1,030,100
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?
Medical Office Space - Permitted remodel includes private offices, reception, exam space, storage, and an ADA-compliant restroom.
Where is this medical office space located?
The property is located at B-465 March Avenue Healdsburg, CA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 1,200‑square‑foot double medical office unit at B‑465 March Avenue, Unit B; Three private offices plus reception, waiting, open exam, and flexible open‑room areas; Permitted remodel with recessed LED lighting, cherry cabinetry, stone counters, and commercial carpet
