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Property profile & analytics
OFF-MARKET
Estimated value
$4,630,000
Strip malls
3535 Industrial Dr Santa Rosa, CA 95403-2002
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-2355952
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Construction
WOOD
Total area
26,572 SF
Lot
1.45 ac (63,162 SF)
APN
148-041-023-000
UPID
US09-2355952
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Upper Cuts Hair Salon
-
Premier Productions Nightclub Music Venue
-
Ellington Hall Hotel & Motel Resort
-
Amerispec Home Inspector
-
Goodwill Vocational Services Business Service Center Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.44M
CAP Approach
CAP
$5.20M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.63M
Owner & transaction history
James Donaldson Connor
James Donaldson Connor
since 2026
Last sale
$3.8M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.6M
+366.9%
Commercial (general)
$3.5M
+355.5%
Industrial (general)
$3.5M
+349.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Santa Rosa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Rosa submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,920,000
ML approach
$4,435,000
CAP Approach
CAP Return
Estimation
6%
$5,630,000
6.5%
$5,195,000
7%
$4,825,000
Alternative Use
Use
Estimation
RESTAURANT
$3,625,000
Change: +367% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,535,000
Change: +356% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,495,000
Change: +350% · Conversion: Difficult
OFFICE BUILDING
$3,255,000
Change: +319% · Conversion: Moderate
Blend value · Realmo final
$4.63M
Range $4.17M – $5.09M · ±10% · vs last sale $3.80M (Feb 3 2021)
Last sale anchor
$3.80M
Feb 3 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$174 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$36,507
Tax year 2024
Assessed value
$3,130,562
Assessed 2024
Previous assessed
$3,130,562
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$1,034,677
Assessed improvement
$2,095,885
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1980
Construction
WOOD
Heating
CENTRAL
Cooling
YES
Stories
1
Total area
26,572 SF
Lot
1.45 ac (63,162 SF)
APN
148-041-023-000
UPID
US09-2355952
Jurisdiction
SONOMA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$3.6M
COMMERCIAL (GENERAL)
Est. value
$3.5M
INDUSTRIAL (GENERAL)
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.3M
RESTAURANT
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.45 ac
Current owner
From public records · entity-resolved
James Donaldson Connor
Individual
Mailing address
3020 CARBON PL STE #204, BOULDER, CO 80301-6169
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2026
—
James Donaldson Connor
3535 Industrial LLC
Deed
$4,620,000 · Redwood Cu
Feb 3, 2021
$3,800,000
3535 Industrial LLC
Andrew L Brown
Grant Deed
$3,656,250 · Independent Bank
Jul 11, 2002
—
Andrew L Brown
Brown,susan
Quit Claim Deed
related
$700,000 · Luther Burbank Savings & Loan
Feb 24, 1998
—
Rex G Strickland
Strickland,stella D
Quit Claim Deed
related
—
—
—
Brown Susan & Andrew Trust
—
Deed Of Trust
related
$700,000 · Redwood Cu
—
—
Rex Strickland
—
Deed Of Trust
related
$50,000 · Individual
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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