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    Property profile & analytics

    2010 Pioneer Way Santa Rosa, CA 95403

    • Apartment buildings
    • 3,912 SF
    • 2.87 lot acres
    For Sale
    View listing
    $62,300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-5051204
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • 2010 Pioneer Way Apartments / Apartment Building
    • Pioneer 2000 Apartments / Apartment Complex
    • Bay Area Home Improvement / Contractor

    Property Details for 2010 Pioneer Way

    Year built
    1985
    Construction
    WOOD
    Lot size
    2.87 lot acres
    Property size
    3,912 SF
    Property type
    Apartment buildings
    APN
    034-021-021-000
    APU
    34021021000

    Description

    This exceptional 178-unit apartment community, situated on 8.6 acres in Santa Rosa, CA, presents a compelling investment opportunity. The property, located at 2010 Pioneer Way, boasts 100 one-bedroom/one-bathroom units and 78 two-bedroom/one-and-a-half-bathroom units. Recent improvements include a fresh coat of paint in a contemporary color scheme and newer roofing. The grounds are beautifully landscaped, featuring manicured lawns, mature trees, and flowering bushes. Residents enjoy a peaceful community setting with stunning vistas. Unit amenities include individual hot water heaters, all-electric appliances, full-length mirrored closet doors, fireplaces, and many units offer balconies or patios. Community amenities are extensive, encompassing a pool with a spa, a fitness center, assigned covered parking, and a pet play area. The property also benefits from on-site management and laundry facilities. Sidewalk concrete repairs have been completed. This well-maintained property offers significant upside potential in rental income. The asking price is $62,300,000. This is a rare opportunity to acquire a substantial, high-quality multifamily asset in a desirable California location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $480,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $624,000
      Market price range: $101k - $624k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa
    County
    Sonoma
    State
    California
    Longitude
    -122.76
    Latitude
    38.4688
    CBSA code
    42220
    CBSA name
    SANTA ROSA-PETALUMA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $122,666
    $3,491,621
    $7,403,126
    $10,894,747
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $350,000
      3.70 Acres

      1598 Becky Ct

      APARTMENT HOUSE (100+ UNITS) • 3.70 Acres
      1598 Becky Ct, Santa Rosa, CA 95403-2573
      View Details
    • Value Estimation
      $395,000
      1.86 Acres

      3018 Coffey Ln

      APARTMENT HOUSE (100+ UNITS) • 1.86 Acres
      3018 Coffey Ln, Santa Rosa, CA 95403-2500
      View Details
    • Value Estimation
      $430,000
      0.69 Acres

      1751 Dorado Ct

      APARTMENT HOUSE (100+ UNITS) • 0.69 Acres
      1751 Dorado Ct, Santa Rosa, CA 95403
      View Details
    • Value Estimation
      $435,000
      0.19 Acres

      2601 Mcbride Ln

      APARTMENT HOUSE (100+ UNITS) • 0.19 Acres
      2601 Mcbride Ln, Santa Rosa, CA 95403-2762
      View Details
    • Value Estimation
      $365,000
      0.83 Acres

      825 Russell Ave

      APARTMENT HOUSE (100+ UNITS) • 0.83 Acres
      825 Russell Ave, Santa Rosa, CA 95403-2151
      View Details
    • Value Estimation
      $890,000
      38,896 SF

      5215 Old Redwood Hwy

      APARTMENT HOUSE (100+ UNITS) • 38,896 SF
      5215 Old Redwood Hwy, Santa Rosa, CA 95403-7820
      View Details

    Similar Nearby for Sale

    • $42,500,000

      Marlow Apartments: Santa Rosa

      116-Unit Apartment Community, CA
      3076 Marlow Rd, Santa Rosa, CA 95403
      View Details
    • $5,575,000
      10,825 SF

      Santa Rosa Investment Portfolio

      Seven single-family homes in Sonoma County Wine Country.
      2010 Ravello Way, Santa Rosa, CA 95403
      View Details
    • Contact for pricing

      Santa Rosa Apartment Complex

      178-unit community, prime location.
      2010 Pioneer Way, Santa Rosa, CA 95403
      View Details
    • $5,825,000
      1,000 SF

      Stonegate Mobile Home Park

      70-site mobile home community in Santa Rosa, California.
      Whispering Creek Dr, Santa Rosa, CA 95403
      View Details
    • $290,000

      Larkfield Estates Land Opportunity

      Spacious lot in Santa Rosa's desirable Larkfield Estates neighborhood.
      160 Dorchester Ct, Santa Rosa, CA 95403
      View Details
    • $199,950

      Residential Lot with Golf Course Views

      Residential lot with golf course views, ready for new construction.
      5740 Fairway Knoll Ct, Santa Rosa, CA 95403
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    Similar Nearby for Lease

    • Contact for pricing
      21,780 SF

      Santa Rosa Ground Lease Opportunity

      High-Visibility Retail Pad Site, Excellent Location
      3746 Airway Dr, Santa Rosa, CA 95403
      View Details
    • Contact for pricing
      1,048 SF

      Class A Office Space Available

      Two-story office building near Santa Rosa Airport for lease.
      3843 Brickway Blvd, Santa Rosa, CA 95403
      View Details
    • Contact for pricing
      5,933 SF

      Class A Office Space Available

      Two-story office building in Fountaingrove submarket with highway visibility.
      3700 Old Redwood Hwy, Santa Rosa, CA 95403
      View Details
    • Contact for pricing
      2,936 SF

      Class A Office/Medical Building

      Office and medical building near Kaiser Permanente Santa Rosa.
      3333 Mendocino Ave, Santa Rosa, CA 95403
      View Details
    • Contact for pricing
      4,507 SF

      Santa Rosa Office Space Available

      Office space with highway visibility and ample parking.
      3883 Airway Dr, Santa Rosa, CA 95403
      View Details
    • $1.60 SF/Yr
      1,500 SF

      Retail Space with Flexible Layout

      Retail space featuring a flexible layout and customizable flooring.
      1331 Guerneville Rd, Santa Rosa, CA 95403
      View Details
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    2010 Pioneer Way
    Santa Rosa, CA 95403
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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