Current Use by Public Records
- Warehouses
Property Details for 2321-2329 Circadian Way
- Year built
- 1997
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a fully leased Class A industrial warehouse located within the prestigious Northpoint Business Park in Santa Rosa, CA. The property, encompassing 54,529 net rentable square feet, is situated on a 137,300 square foot lot and features a single-story, 12,210 - 42,319 square foot building constructed in 1997. The property boasts 4 loading docks, 4 dock-high doors, and a generous 25-foot ceiling height, ideal for various industrial uses. Ample parking is provided with 157 spaces. Currently housing two tenants under a Net Lease agreement with a corporate guarantee, the property offers a strong Net Operating Income (NOI) of $687,060. The lease terms include rent bumps and one lease expires April 1, 2024, with a new lease commencing May 2023. The property is zoned for Business Park use and benefits from excellent truck access. The building features private offices and workspace in the front for both tenants. This offering presents a rare chance to acquire a well-maintained, high-performing industrial asset in a prime location, with a purchase price of $13,632,000 ($250 per square foot). The property's construction includes a concrete tilt-up exterior, a 5-inch concrete slab, and a built-up roof. Utilities are provided by PG&E, with city water and sewer services. HVAC is installed in the office areas of both tenant spaces. This is a 1031 exchange eligible property.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Santa Rosa
- County
- Sonoma
- State
- California
- Longitude
- -122.755
- Latitude
- 38.422
