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    Property profile & analytics

    2371 Corby Ave Santa Rosa, CA 95407-7501

    • Apartment buildings
    • 6,240 SF
    • 1.24 lot acres
    OFF-MARKET
    Value Estimations
    $1,740,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0175786
    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

    • Apartment buildings

    Property Details for 2371 Corby Ave

    Year built
    1985
    Construction
    WOOD
    Lot size
    1.24 lot acres
    Property size
    6,240 SF
    Property type
    Apartment buildings
    APN
    043-053-055-000
    APU
    43053055000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,815,000
      6.5%
      $1,675,000
      7%
      $1,555,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,072,000
      Market price range: $193k - $1.57M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,775,000
      Current use
      MEDICAL BUILDING
      $2,295,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa
    County
    Sonoma
    State
    California
    Longitude
    -122.718
    Latitude
    38.4165
    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
    $70,931
    $1,367,057
    $2,886,862
    $4,253,919
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.83 Acres

      586 Arrowood Dr

      APARTMENT HOUSE (100+ UNITS) • 0.83 Acres
      586 Arrowood Dr, Santa Rosa, CA 95407-7575
      View Details
    • Value Estimation
      $7,935,000
      58,140 SF

      310 Butterfly Ln

      APARTMENT HOUSE (100+ UNITS) • 58,140 SF
      310 Butterfly Ln, Santa Rosa, CA 95407-7998
      View Details
    • Value Estimation
      $11,070,000
      87,012 SF

      3000 Crk Park Ln

      APARTMENT HOUSE (100+ UNITS) • 87,012 SF
      3000 Crk Park Ln, Santa Rosa, CA 95407
      View Details
    • Value Estimation
      $750,000
      3,520 SF

      1500 Ww Ave

      APARTMENT HOUSE (100+ UNITS) • 3,520 SF
      1500 Ww Ave, Santa Rosa, CA 95407-7480
      View Details
    • Value Estimation
      $620,000
      2,643 SF

      822 Ww Ave

      APARTMENT HOUSE (100+ UNITS) • 2,643 SF
      822 Ww Ave, Santa Rosa, CA 95407-7270
      View Details
    • Value Estimation
      $805,000
      5,092 SF

      670 Boyd St

      APARTMENT HOUSE (100+ UNITS) • 5,092 SF
      670 Boyd St, Santa Rosa, CA 95407-7088
      View Details

    Similar Nearby for Sale

    • $2,400,000

      Sonoma County Multifamily Development Site

      Permit-ready 50-unit development site in Santa Rosa.
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      32,751 SF

      Santa Rosa Townhome-Style Apartments

      Santa Rosa townhomes with recent renovations and high occupancy.
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      121-Unit Condominium Community For Sale

      121-unit condominium community with retail spaces in Santa Rosa, CA.
      3751 Sebastopol Rd, Santa Rosa, CA 95407
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    • $1,295,000

      Santa Rosa Development Opportunity

      Two parcels totaling 1.37 acres, ideal for multi-family development.
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      View Details
    • $899,000
      1,989 SF

      Santa Rosa Triplex For Sale

      Triplex with units, yards, parking, and stable tenants.
      487 Hearn Ave, Santa Rosa, CA 95407
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    Similar Nearby for Lease

    • Contact for pricing

      Well-Maintained Building in Business Park

      Ready for occupancy in Northpoint Business Park.
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      19,500 SF

      Retail Box Opportunity in Santa Rosa

      Retail space with loading dock and monument signage available for rent.
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      24,000 SF

      Food Production Space Available Now

      Food production space with freezer/cooler available for sublease.
      256 Sutton Pl, 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
    • $1.75 SF/Yr
      5,000 SF

      Retail Space with High Visibility

      Ground floor retail space featuring excellent natural light and ample parking.
      2510 Santa Rosa Ave, Santa Rosa, CA 95407
      View Details
    • Contact for pricing

      Industrial Space Near Sonoma Airport

      Industrial space for lease, conveniently located near Sonoma County Airport.
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      View Details
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    2371 Corby Ave
    Santa Rosa, CA 95407-7501
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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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