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    Property profile & analytics

    2235 Challenger Way Santa Rosa, CA 95407-5458

    • Office buildings
    • 17,128 SF
    • 1.33 lot acres
    OFF-MARKET
    Value Estimations
    $3,005,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1232240
    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

    • Sonoma County Older Adult Team / County Government Office
    • Accountable Solutions / Accounting Firm / Tax Preparation
    • Cassidy Dalton / Physician
    • Angela Burt / Physician
    • Tess Lusher / Physician

    Property Details for 2235 Challenger Way

    Year built
    1987
    Construction
    TILT-UP CONCRETE
    Lot size
    1.33 lot acres
    Property size
    17,128 SF
    Property type
    Office buildings
    APN
    035-112-029-000
    APU
    35112029000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,300,000
      6.5%
      $3,970,000
      7%
      $3,685,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,223,000
      Market price range: $3.22M - $7.11M
      AI Estimate
      $1,815,000
      Market price range: $497k - $11.0M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,750,000
      Current use
      AUTO REPAIR, GARAGE
      $4,935,000
      Change: +4% Conversion: Difficult
      RETAIL STORES
      $4,760,000
      Change: +0% Conversion: Moderate
      RESTAURANT
      $4,700,000
      Change: -1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa
    County
    Sonoma
    State
    California
    Longitude
    -122.752
    Latitude
    38.4255
    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
    $14,566
    $422,201
    $784,089
    $1,206,290
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,655,000
      14,529 SF

      1000 Apollo Way

      OFFICE BUILDING • 14,529 SF
      1000 Apollo Way, Santa Rosa, CA 95407-5462
      View Details
    • Value Estimation
      $8,165,000
      37,943 SF

      2250 Apollo Way

      OFFICE BUILDING • 37,943 SF
      2250 Apollo Way, Santa Rosa, CA 95407-9115
      View Details
    • Value Estimation
      $2,155,000
      10,476 SF

      2875 Talmadge Dr

      OFFICE BUILDING (MULTI-STORY) • 10,476 SF
      2875 Talmadge Dr, Santa Rosa, CA 95407-5704
      View Details
    • Value Estimation by Request
      840 SF

      1700 Corby Ave

      OFFICE BUILDING • 840 SF
      1700 Corby Ave, Santa Rosa, CA 95407-6022
      View Details
    • Value Estimation by Request
      1.78 Acres

      111 Sebastopol Rd

      OFFICE BUILDING • 1.78 Acres
      111 Sebastopol Rd, Santa Rosa, CA 95407-6927
      View Details
    • Value Estimation by Request
      0.02 Acres

      4735 Luther Burbank Memorial Hwya

      OFFICE BUILDING • 0.02 Acres
      4735 Luther Burbank Memorial Hwya, Santa Rosa, CA 95407
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      54,529 SF

      Mixed-Use Investment Opportunity

      Mixed-use property with existing tenant and expansion potential.
      2321-2329 Circadian Way, Santa Rosa, CA 95407
      View Details
    • $1,550,000
      10,260 SF

      Santa Rosa Industrial Buildings For Sale

      Two industrial buildings totaling 10,260 SF on 0.8 acres.
      1599 Hampton Cir, Santa Rosa, CA 95407
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    • $3,418,000
      13,617 SF

      Santa Rosa Warehouse and Office

      Warehouse and office space available for lease in Santa Rosa.
      2331 Circadian Way, Santa Rosa, CA 95407
      View Details
    • Contact for pricing
      27,827 SF

      Industrial Property with Cash-Flow

      27,827 SF industrial property with cash-flow and vacancy.
      3005 Wiljan Ct, Santa Rosa, CA 95407
      View Details
    • $6,750,000
      39,986 SF

      Santa Rosa Warehouse with Secured Yard

      Warehouse with secured yard, office space, and multiple rooms.
      1800 Lombardi Ln, Santa Rosa, CA 95407
      View Details
    • $13,632,000
      54,529 SF

      Santa Rosa Warehouse For Sale

      54,529 SF warehouse in Santa Rosa's Northpoint Corporate Center.
      2321-2329 Circadian Way, Santa Rosa, CA 95407
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      35,841 SF

      Santa Rosa Office Sublease Opportunity

      Single-story office building available for sublease in Santa Rosa.
      1244 Apollo Way, Santa Rosa, CA 95407
      View Details
    • Contact for pricing

      Well-Maintained Building in Business Park

      Ready for occupancy in Northpoint Business Park.
      2349 Circadian Way, Santa Rosa, CA 95407
      View Details
    • Contact for pricing
      1,491 SF

      Class A Office Complex

      Five-building office complex in park-like setting with lakes.
      2225-2255 Challenger Way, Santa Rosa, CA 95407
      View Details
    • $1.25 SF/Yr
      4,370 SF

      Versatile Flex Space Available

      Adaptable flex space with office, showroom, and industrial features.
      2345-2349 Circadian Way, Santa Rosa, CA 95407
      View Details
    • Contact for pricing
      6,245 SF

      Santa Rosa Office Space Available

      Office space featuring conference rooms, natural light, and private offices.
      2300 Northpoint Pkwy, Santa Rosa, CA 95407
      View Details
    • $3,500 /Mo
      4,812 SF

      Santa Rosa Yard Space Available

      Fenced yard space for rent in Santa Rosa.
      2060 Llano Rd, Santa Rosa, CA 95407
      View Details
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    Santa Rosa, CA 95407-5458
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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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